AnaptysBio, Inc. reported its financial results for the first quarter of 2025, revealing a significant increase in collaboration revenue, which rose to $27.8 million from $7.2 million in the same period last year. This growth was primarily driven by an increase in royalty revenue from its collaboration with GlaxoSmithKline (GSK), which amounted to $18.1 million, compared to $7.2 million in the prior year. Despite this revenue growth, the company reported a net loss of $39.3 million for the quarter, a slight improvement from the $43.9 million loss recorded in the first quarter of 2024. The loss per share also improved to $(1.28) from $(1.64) year-over-year.
In terms of operational changes, AnaptysBio has made strategic moves to enhance its product pipeline. The company is advancing its lead program, rosnilimab, which is currently in Phase 2b trials for rheumatoid arthritis and Phase 2 trials for ulcerative colitis. Additionally, AnaptysBio entered into a new collaboration with Vanda Pharmaceuticals in January 2025, granting Vanda an exclusive license for imsidolimab, which includes an upfront payment of $10 million and potential future milestone payments. The company also completed a stock repurchase program, buying back approximately $5.4 million worth of its common stock.
As of March 31, 2025, AnaptysBio had total assets of $422.1 million, down from $483.8 million at the end of 2024. The decrease in assets was attributed to a reduction in cash and cash equivalents, which fell to $98.6 million from $123.1 million. The company’s liabilities also decreased, with total current liabilities at $44.0 million compared to $45.4 million at the end of the previous year. The company’s stockholders' equity decreased to $34.0 million from $70.9 million, primarily due to the net loss incurred during the quarter.
Looking ahead, AnaptysBio's management expressed confidence in the company's ability to meet its operational plans for at least the next 12 months, supported by its current cash reserves and ongoing collaborations. However, the company acknowledged the need for additional financing to support its research and development activities, particularly as it continues to advance its clinical programs. The management also highlighted the potential for fluctuations in revenue based on the timing of milestones and royalties from its collaborations, indicating that future financial performance may vary significantly.
About ANAPTYSBIO, INC
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