AnaptysBio Reports Increased Collaboration Revenue of $22.3 Million in Q2 2025

AnaptysBio, Inc. reported its financial results for the second quarter of 2025, revealing a significant increase in collaboration revenue, which reached $22.3 million for the three months ended June 30, 2025, compared to $11.0 million for the same period in 2024. For the first half of 2025, collaboration revenue totaled $50.0 million, up from $18.2 million in the prior year. The increase is primarily attributed to higher royalty revenue from the sales of GSK's Jemperli and Zejula, which amounted to $22.2 million and $40.4 million for the respective periods. Despite this revenue growth, AnaptysBio reported a net loss of $38.6 million for the second quarter, a decrease from a net loss of $46.7 million in the same quarter of 2024.

The company's total operating expenses for the second quarter were $48.4 million, down from $51.3 million in the prior year. This reduction was driven by a decrease in research and development expenses, which fell to $37.8 million from $42.0 million, primarily due to lower clinical expenses and outside services for manufacturing. General and administrative expenses increased to $10.6 million from $9.3 million, reflecting higher stock-based compensation and personnel costs. The overall decrease in operating expenses contributed to a smaller loss from operations, which was $26.2 million for the quarter, compared to $40.3 million in the previous year.

AnaptysBio's balance sheet as of June 30, 2025, showed total assets of $335.3 million, a decline from $483.8 million at the end of 2024. This decrease was largely due to a reduction in cash and cash equivalents, which fell to $44.3 million from $123.1 million. The company's liabilities also decreased, with total current liabilities at $35.5 million, down from $45.4 million at the end of 2024. However, the company reported a stockholders' deficit of $44.7 million, a significant decline from a positive equity position of $70.9 million at the end of the previous fiscal year.

Strategically, AnaptysBio has made notable advancements in its clinical pipeline, particularly with its lead program, rosnilimab, which is undergoing Phase 2 trials for rheumatoid arthritis and ulcerative colitis. The company also entered into a license agreement with Vanda Pharmaceuticals for the development of imsidolimab, receiving an upfront payment of $10 million. Additionally, AnaptysBio has been active in stock repurchases, having repurchased approximately $55.5 million worth of common stock under a program authorized in March 2025.

Looking ahead, AnaptysBio anticipates continued revenue growth from its collaborations, particularly as it progresses through clinical trials and seeks regulatory approvals for its product candidates. The company believes its existing cash and investments will support its operations for at least the next 12 months, although it may seek additional financing to further its development efforts. The management remains optimistic about the potential of its therapeutic candidates and the impact of its collaborations on future revenue streams.