ANAPTYSBIO, INC
ANAB evidence brief
What we can confirm
- BioSniper Score:
- 6.2 / 10
- Market Cap:
- $1.68B
- Lead Asset:
- ANB033 (Phase 1)
What it means
What to watch
Prepared research question
What matters most for ANAB—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ANAB
ANAPTYSBIO, INC (ANAB) is a royalty management company that spun off its biopharma operations and now exclusively manages financial collaborations for Jemperli (with GSK) and imsidolimab (with Vanda), holding $133.8M in cash as of 2026-06-30 [sec].
Key risk: Partner-dependent revenue
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$1.68B
Cash Runway
—
Lead Asset
ANB033 (Phase 1)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 5 pipeline candidates · 8 clinical trials for ANAPTYSBIO, INC.
Similar companies
ANAPTYSBIO, INC (ANAB) is a royalty management company that spun off its biopharma operations and now exclusively manages financial collaborations for Jemperli (with GSK) and imsidolimab (with Vanda), holding $133.8M in cash as of 2026-06-30 [sec].
- Completed spin-off of First Tracks Biotherapeutics in April 2026, now exclusively manages GSK and Vanda financial collaborations [news · 2026-04-20].
- Cash and equivalents of $133.8M as of 2026-06-30 [sec].
- Eligible for tiered 4-8% royalties on worldwide net sales of Jemperli (dostarlimab) under GSK collaboration [pipeline].
- Eligible for 10% royalty on net sales of imsidolimab plus milestone payments from Vanda [pipeline].
- Pipeline includes early-stage candidates (ANB101, ANB033) and a Phase 2 candidate (rosnilimab) for ulcerative colitis [pipeline].
What works
- Strong cash position of $133.8M as of 2026-06-30 provides financial runway for royalty management operations [sec].
- Royalty streams from two partnered programs (Jemperli with GSK, imsidolimab with Vanda) provide recurring revenue potential without ongoing R&D costs [pipeline].
- Low operating expense model after spin-off, with limited FTEs and minimal operating expenses [news · 2026-04-20].
What to weigh
- No internal drug development pipeline remains after spin-off; all future revenue depends on partner success [news · 2026-04-20].
- Royalty rates are modest (4-8% for Jemperli, 10% for imsidolimab) and subject to competitive pressures in their respective markets [pipeline].
- Shareholders' equity is only $10.6M as of 2026-06-30, indicating thin equity cushion relative to cash [sec].
From the filings
Quoted directly from source documents.
Company completed spin-off and now exclusively manages GSK and Vanda collaborations
“AnaptysBio, Inc. (Nasdaq: ANAB), a royalty management company, today announced the completion of its spin-off of First Tracks Biotherapeutics, Inc., its former biopharma operations business. Anaptys will now exclusively manage”
News · April 20, 2026
Royalty terms for Jemperli collaboration
“Eligible to receive tiered 4-8% royalties related to worldwide net sales of products developed under the collaboration.”
Royalty terms for imsidolimab collaboration
“Eligible to receive a 10% royalty on net sales, as well as milestone payments.”
Risks & what to watch (3)›
Key risks
- Partner-dependent revenue — All revenue depends on GSK and Vanda commercial success; no internal drug development [news · 2026-04-20].
- Modest royalty rates — Jemperli royalties are 4-8% and imsidolimab 10%, subject to competitive erosion [pipeline].
- Thin equity cushion — Shareholders' equity of $10.6M as of 2026-06-30 is low relative to cash [sec].
What to watch
- Commercial performance of Jemperli (dostarlimab) in advanced endometrial cancer and its competitive position against GSK's own PD-1 inhibitors [pipeline].
- FDA BLA decision for imsidolimab in generalized pustular psoriasis and subsequent market uptake [pipeline].
- Progress of early-stage pipeline candidates (ANB101, ANB033) through Phase 1 trials [pipeline].
- Any new partnership or royalty acquisition announcements following the spin-off [news · 2026-04-20].
Sources: Catalysts · Competitor trials · News · Pipeline · Generated October 2, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 28.95
Lead: Approved
5 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
206
Total value held
$1.54B
| Holder | Shares | Value |
|---|---|---|
| ecor1 capital, llc | 7,880,094 | $437.0M |
| blackrock, inc. | 1,681,380 | $93.2M |
| tang capital management llc | 1,330,879 | $73.8M |
| morgan stanley | 993,905 | $55.1M |
| state street corp | 992,445 | $55.0M |
| affinity asset advisors, llc | 940,000 | $52.1M |
| vanguard capital management llc | 853,151 | $47.3M |
| palo alto investors lp | 638,161 | $35.4M |
| 683 capital management, llc | 625,000 | $34.7M |
| d. e. shaw & co., inc. | 579,296 | $32.1M |
Showing top 10 of 206 institutional holders of ANAPTYSBIO, INC. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 22.1%
- Days to cover
- 6.3
- Shares short
- 4,461,532
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ANAB short interestGovernance
Frequently asked questions
What is the AI investment thesis for ANAPTYSBIO, INC?
ANAPTYSBIO, INC (ANAB) is a royalty management company that spun off its biopharma operations and now exclusively manages financial collaborations for Jemperli (with GSK) and imsidolimab (with Vanda), holding $133.8M in cash as of 2026-06-30 [sec].
What is ANAPTYSBIO, INC's lead drug candidate?
ANAPTYSBIO, INC's most advanced tracked candidate is ANB033 (Phase 1) for celiac disease and eosinophilic esophagitis.
Who is the CEO of ANAPTYSBIO, INC?
Mr. Daniel R. Faga is the chief executive officer of ANAPTYSBIO, INC (ANAB).
Where is ANAPTYSBIO, INC headquartered?
ANAPTYSBIO, INC (ANAB) is headquartered in San Diego, CA, United States.
What therapeutic areas does ANAPTYSBIO, INC focus on?
ANAPTYSBIO, INC develops therapies across Oncology, Immunology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.