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ANAB

AnaptysBio, Inc.

ANAB

AnaptysBio, Inc. • NASDAQ
$41.65 ▼ -1.21% (-0.51)
Market Cap $1.15 B
52w High $43.31
52w Low $12.21
Dividend Yield 0%
P/E -14.77
Volume 164.31K
Outstanding Shares 27.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $76.32M ▲ $10.209M ▼ $15.113M ▲ 19.802% ▲ $0.54 ▲ $38.238M ▲
Q2-2025 $22.263M ▼ $10.609M ▼ $-38.63M ▲ -173.517% ▼ $-1.34 ▼ $-18.384M ▲
Q1-2025 $27.771M ▼ $14.13M ▲ $-39.329M ▼ -141.619% ▼ $-1.28 ▼ $-20.618M ▼
Q4-2024 $43.113M ▲ $10.194M ▼ $-21.784M ▲ -50.528% ▲ $-0.77 ▲ $-3.806M ▲
Q3-2024 $30.017M $10.562M $-32.851M -109.441% $-1.14 $-16.842M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $248.956M ▼ $353.098M ▲ $382.514M ▲ $-29.416M ▲
Q2-2025 $265.71M ▼ $335.25M ▼ $379.983M ▼ $-44.733M ▼
Q1-2025 $339.936M ▼ $422.053M ▼ $388.032M ▼ $34.021M ▼
Q4-2024 $385.373M ▼ $483.834M ▼ $412.966M ▲ $70.868M ▼
Q3-2024 $430.117M $493.418M $409.051M $84.367M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $15.113M ▲ $-27.356M ▲ $103.282M ▲ $-10.391M ▲ $65.535M ▲ $-27.368M ▲
Q2-2025 $-38.63M ▲ $-40.244M ▼ $36.403M ▲ $-50.498M ▼ $-54.339M ▼ $-40.283M ▼
Q1-2025 $-39.329M ▼ $-10.7M ▲ $14.847M ▲ $-28.59M ▼ $-24.443M ▲ $-10.735M ▲
Q4-2024 $-21.784M ▲ $-66.672M ▼ $-29.396M ▼ $27.567M ▼ $-68.501M ▼ $-66.935M ▼
Q3-2024 $-32.851M $-10.09M $58.62M $71.23M $119.76M $-10.125M

Five-Year Company Overview

Income Statement

Income Statement AnaptysBio remains a classic clinical‑stage biotech story: almost no recurring product revenue and a cost base dominated by research and development and overhead. Over the past several years, losses have been consistent and have generally widened, with per‑share losses growing larger as the company has advanced its pipeline and restructured its portfolio. Profitability is not in sight yet, and results are highly sensitive to milestones, royalty accounting, and one‑time items, which can make year‑to‑year comparisons look lumpy even though the underlying pattern is a steady operating loss.

Balance Sheet

Balance Sheet The balance sheet shows a company that once held a very large cash cushion but has drawn that down meaningfully as development spending continued. Overall assets have drifted lower, shareholders’ equity has eroded, and the company now runs with a thinner capital buffer than a few years ago, although direct financial debt appears modest. The key question is how long current cash and royalty inflows can support operations before additional capital is needed, especially given the scale and duration of late‑stage clinical trials.

Cash Flow

Cash Flow Cash flow is firmly negative from operations and has stayed that way, reflecting ongoing spending on clinical programs and a lack of commercial income. Free cash flow closely matches operating cash flow because capital spending needs are minimal; the main use of cash is people, trials, and development activities. This pattern is typical for a development‑stage biotech, but it means the company is structurally cash‑consuming and depends on its existing cash, royalty streams, potential milestones, and future financing options to sustain its pipeline.

Competitive Edge

Competitive Edge AnaptysBio’s main competitive strength is its proprietary antibody discovery platform and its established role as a partner to larger pharma companies, evidenced by the Jemperli royalty stream with GSK. The focus on immune cell modulation and multiple shots on goal across inflammatory diseases give it diversification compared with single‑asset peers. At the same time, the company operates in highly competitive spaces—rheumatoid arthritis, celiac disease, and broader autoimmune indications—where several well‑funded players are pursuing similar pathways, so differentiation on efficacy, safety, and dosing will be critical. Dependence on a few key partnerships and legal uncertainties around collaboration agreements add another layer of competitive and strategic risk.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of AnaptysBio’s story. The SHM‑XEL platform gives it a sophisticated engine for generating antibodies that can be fine‑tuned for difficult targets, and this has already produced multiple clinical assets and external collaborations. The pipeline is relatively broad for a company of its size, spanning a PD‑1 agonist, a CD122 antagonist, and a BDCA2 modulator, each targeting important immune pathways. However, recent mixed clinical outcomes—such as discontinuation of one indication for rosnilimab—underline the scientific risk. The planned separation into a royalty‑focused entity and a pure‑play biotech may further concentrate R&D risk in the development arm, making future results more sensitive to trial outcomes.

Summary

Overall, AnaptysBio is a financially loss‑making but innovation‑rich biotech that is still in the value‑creation phase rather than the value‑harvesting phase. The company combines a sophisticated antibody discovery engine, a diversified early‑ and mid‑stage pipeline, and a meaningful royalty stream from partnered assets, but this is balanced by persistent operating losses, ongoing cash burn, a thinner equity cushion, and intense scientific and competitive uncertainty. Future performance will hinge on the success of key clinical programs, the durability and growth of royalty income, and the execution of its planned corporate split, all of which introduce both significant upside potential and material downside risk for stakeholders following the name.

NEWS

November 25, 2025 · 4:15 PM UTC

Anaptys Announces Participation in December Investor Conferences

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November 21, 2025 · 4:00 AM UTC

Anaptys Announces $100 Million Stock Repurchase Plan

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November 21, 2025 · 3:50 AM UTC

Anaptys Initiates Litigation Against Tesaro, a GSK Subsidiary

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November 10, 2025 · 9:00 AM UTC

Anaptys Announces Phase 2 Trial of Rosnilimab Did Not Meet Primary or Secondary Endpoints at Week 12 in Moderate-to-Severe Ulcerative Colitis

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November 4, 2025 · 4:15 PM UTC

Anaptys Announces Third Quarter 2025 Financial Results and Provides Business Update

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