AnaptysBio falls after board approves First Tracks Biotherapeutics spinoff

AnaptysBio

27/03/2026 14:47

** Shares of drug developer AnaptysBio ANAB.O fall 2.14% to $63.60

** Co says its board approved the spin-off of First Tracks Biotherapeutics, and the new company is expected to start regular trading on Nasdaq on April 20 under the ticker "TRAX"

** AnaptysBio shareholders will receive one First Tracks share for each AnaptysBio share they own, based on holdings as of April 6

** Co says First Tracks will start with $180 million in cash, including $80 million from a private placement, which it expects will fund the business for about two years

** First Tracks will focus on new antibody treatments for autoimmune and inflammatory diseases

** ANAB shares more than tripled in 2025

 (Reporting by Kunal Das in Bengaluru)

 ((Kunal.Das2@thomsonreuters.com;))