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AnaptysBio

ANAB Rare disease Lead: Approved 10 Biotech Distilled articles ↓ 24 filings & releases ↓ Cash $134M (Jun 30, 2026) ↓ 10 verdicts ↓ 3 timing quotes ↓
DermatologyGI/HepatologyImmunologyOncology Protein

Market cap $1.39B 29.9M shares (10-KT, Sep 16, 2026) × $46.45 close Nov 6, 2026

Most recent annual filing: 2026-03-03

Catalyst timeline

8 trackedQuarter catalyst calendar →
  1. Jemperli Ph2 readout2H 2026Jemperli Ph2 readout, 2H 2026, notable
  2. Corporate Separation updateYear-End 2026Corporate Separation update, Year-End 2026, routine
  3. ANB033 Ph1 topline4Q 2026ANB033 Ph1 topline, 4Q 2026, material
  4. Legal ruling litigationlate 4Q 2026Legal ruling litigation, late 4Q 2026, routine
  5. Imsidolimab FDA approvalDec 12, 2026Imsidolimab FDA approval, Dec 12, 2026, material
  6. Sagard debt corporate update2Q 2027Sagard debt corporate update, 2Q 2027, routine
  7. Sagard non-recourse debt corporate updatelate 2Q 2027Sagard non-recourse debt corporate update, late 2Q 2027, routine
  8. Sagard financing corporate update2H 2027Sagard financing corporate update, 2H 2027, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (9 active programs)

Capital (as filed)

Cash
$134M cash and cash equivalents · Jun 30, 2026 (10-KT)
Short-term investments
$30.3M Jun 30, 2026
Operating cash flow
−$26.6M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-KT)
As stated in coverage
$164M cash per the update of Sep 21, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (10)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (10 calls)

Every verdict Biotech Distilled has published on AnaptysBio, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-02-12 Watch AnaptysBio Inc (ANAB): Scientific Deep Dive for Lead and Pipeline Products ANAB is a litigation and restructuring arbitrage play with the Jemperli royalty stream obscured by debt and legal uncertainty; no rush to buy until the Delaware Chancery Court overhang resolves.
  2. 2026-03-08 Hold UPDATE: AnaptysBio (ANAB): A Divorce is Imminent, and Jemperli is Paying the Alimony New filings confirm the spin-off timeline and Jemperli's commercial momentum, but the Delaware Chancery Court litigation against GSK still clouds the royalty moat; no change to the cautious stance.
  3. 2026-03-28 Hold UPDATE: AnaptysBio (ANAB) - The AnaptysBio Divorce is Finalized. Let the Arbitrage Begin. Brilliant financial engineering de-risks the spin-off, but the Jemperli royalty moat remains under heavy legal fire until the July Delaware trial; sidelines remain safest for fundamental holders.
  4. 2026-04-27 Watch speculative UPDATE: AnaptysBio (ANAB) - The Court Strikes the First Blow. Tesaro Loses. Dismissal of Tesaro's anticipatory breach counterclaim removes the worst-case royalty-severance scenario; post-spin ANAB is now a clean royalty vehicle with a materially improved asymmetry heading into the July trial.
  5. 2026-05-12 Speculative buy speculative UPDATE: AnaptysBio (ANAB) - The Board Is Now a Royalty Aggregator Starter Pack Addition of a second royalty-vehicle operator to the Board and a contractor-CFO structure reinforce the royalty-aggregator thesis without changing the July 14 binary; no new action warranted.
  6. 2026-05-12 Speculative buy speculative UPDATE: AnaptysBio (ANAB) - The First Pure-Royalty Quarter Prints First standalone royalty-segment print confirms >95% EBIT margin thesis and Sagard paydown tracking; Q4-to-Q1 sequential softness is noted but not thesis-breaking; July 14 trial remains the key binary.
  7. 2026-05-21 Speculative buy speculative UPDATE: AnaptysBio (ANAB) - The Fiscal Year Gets a Royalty Co. Makeover Fiscal year shift to June 30 is another structural signal that ANAB is being engineered as a royalty aggregator; thesis unchanged with July 14 trial still the key catalyst.
  8. 2026-07-30 Speculative buy speculative UPDATE: AnaptysBio (ANAB) - The Gavel Doesn't Drop Until Autumn Post-trial briefing schedule pushes the ruling to late 2026 or into 2027, adding time risk but not outcome risk; the April 24 asymmetry is unchanged and a pullback to the mid-$50s on a procedural filing is a more favorable entry than chasing $60+.
  9. 2026-09-22 Speculative buy speculative UPDATE: AnaptysBio (ANAB) - They're Not Asking for Money. They're Asking for the Drug Back. Reversion of dostarlimab rights as the primary remedy materially expands the upside; Jemperli re-accelerated +34% H1 YoY and AZUR-1 secured a February 2027 PDUFA, strengthening the commercial base under the legal binary.
  10. 2026-10-20 Speculative buy speculative UPDATE: AnaptysBio (ANAB) - The Label Lands Four Months Early FDA approval of Jemperli in rectal cancer four months early retires regulatory risk on the indication underpinning peak-sales math, makes the reversion remedy more valuable, and brings the stock to a sub-$50 entry the author had flagged as more interesting.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (3 quotes from 2 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (24)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 4, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

5 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)