AnaptysBio Announces $75M Stock Repurchase Plan

By Tamara Parker • Monday, March 24 15:12 • Permanent Link

AnaptysBio, Inc. (NASDAQ: ANAB) has announced a stock repurchase plan, with the company authorized to repurchase up to $75,000,000 of its outstanding common stock. This decision comes as AnaptysBio continues to hold significant financial resources, with cash, cash equivalents, and investments exceeding $420 million as of December 31, 2024. Additionally, the company anticipates receiving a $75 million commercial sales milestone payment from GSK in 2025 or 2026.

It's important to note that despite the potential full execution of the stock repurchase plan, AnaptysBio has reiterated its previous cash runway guidance through year-end 2027 for the execution of its research and development plan, excluding potential future royalties from its GSK immuno-oncology financial collaboration.

The stock repurchase plan is scheduled to expire on December 31, 2025, and may be carried out through open market transactions or other means in accordance with certain regulations. The specific timing, number of shares repurchased, and prices paid for the stock will depend on various factors including business and market conditions, corporate and regulatory limitations, prevailing stock prices, and other considerations.

AnaptysBio, a clinical-stage biotechnology company, is focused on delivering innovative immunology therapeutics for autoimmune and inflammatory diseases. Its lead program, rosnilimab, is currently in a phase 2b trial for the treatment of rheumatoid arthritis and in a phase 2 trial for the treatment of ulcerative colitis. The company also has other antibodies in its portfolio, including anb033 and anb101, which are in different phases of clinical trials.

Furthermore, AnaptysBio has struck a financial collaboration with GSK for immuno-oncology, licensing multiple therapeutic antibodies that include a PD-1 antagonist and a TIM-3 antagonist.

For more information about AnaptysBio, visit www.anaptysbio.com or follow the company on LinkedIn. The market has reacted to these announcements by moving the company's shares 6.1% to a price of $18.12. For the full picture, make sure to review AnaptysBio's 8-K report.

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