First Tracks Biotherapeutics up after $200 mln equity raise

First Tracks Biotherapeutics

15/10/2026 13:33

** Shares of First Tracks Biotherapeutics TRAX.O up 2.8% to $35.08 premarket on Thurs after securing $200 mln equity raise
** TRAX says it sold ~6.1 mln shares in private placement to group of new and existing investors at $32.75
** Co intends to use net proceeds from the placement for general corporate purposes, including for clinical development of ANB033
** Leerink, Piper Sandler, UBS and Wells Fargo are placement agents
** On Mon, TRAX stock finished up ~7% at $34.05 after co announced positive top-line results for ANB033 in celiac disease drug trial
** San Diego, California-based firm has ~35.7 mln shares outstanding
** On Apr 20, TRAX stock closed at $18.60 in its Nasdaq debut after co was spun out of AnaptysBio ANAB.O  
** All 12 analysts covering TRAX are bullish including 4 "strong buy" ratings on the stock; median PT of $70 up from $44 three months ago, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))