AnaptysBio (ANAB)
Manages Jemperli and imsidolimab royalties through GSK and Vanda partnerships.
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Collects partner royalties from GSK’s marketed oncology therapy Jemperli and Vanda-licensed imsidolimab, which is under FDA review for generalized pustular psoriasis. The virtual model has no internal drug pipeline after the First Tracks spin-off, and Jemperli supplies nearly all revenue while its royalties service the Sagard monetization obligation.
Manages royalty rights tied to two antibodies discovered in-house: Jemperli, GSK’s marketed oncology therapy, and imsidolimab, an antibody licensed globally to Vanda for generalized pustular psoriasis. Jemperli is sold in the United States, Europe and other markets, while imsidolimab remains under FDA review.
Operates a virtual, low-overhead model after spinning its clinical pipeline into First Tracks Biotherapeutics. Revenue comes from partner royalties rather than drug development or an internal commercial network; Vanda-related milestone rights transferred to First Tracks.
Depends primarily on GSK’s development, commercialization and indication-expansion decisions. Jemperli royalties currently service a non-recourse Sagard monetization obligation until contractual thresholds are met, while imsidolimab economics depend on regulatory approval and Vanda’s launch execution.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 31, 2026 | Wolfe Research | Reiterate | Outperform | $25 | $78 |
| Aug 25, 2026 | Scotiabank | Downgrade | Hold | $70 | |
| May 15, 2026 | Leerink Partners | Target | $85 | $90 | |
| May 13, 2026 | UBS | Reiterate | Buy | $60 | $76 |
| May 13, 2026 | Barclays | Reiterate | Overweight | $55 | $75 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Mar 31, 2026Cash & short-term investments $286.5M · Total debt $277.4M · Total assets $329.7M · Shareholders' equity $12.7M
- Revenue
- $25.6M
- Operating income
- −$34.6M
- Net income
- −$52.9M
No dividends on record.
| Institutions220 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | ≈ 103.35% | 30.07M shares | |
| Insiders12 holders · as of Jun 17, 2026 | 13.25% | 3.85M shares | |
| Adds to | 116.60% |
29.10M company shares as of Sep 3, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
A stock split fell inside the quarter, so quarter-on-quarter changes are not shown.
These groups come from separate filings that can overlap, so they add to 116.60%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
EcoR1 Capital, LLCInstitution | 27.08% | 7.88M | 13Fas of Jun 30, 2026 |
James N. Topper1Insiderdirector | 9.88% | 2.88M | 13Gfiled May 6, 2024 ↗ |
Sirenia Capital Management LPInstitution | 6.60% | 1.92M | 13Gfiled May 15, 2026 ↗ |
BlackRock, Inc.Institution | 6.34% | 1.84M | 13Fas of Jun 30, 2026 |
Tang Capital Management LLCInstitution | 4.57% | 1.33M | 13Fas of Jun 30, 2026 |
| See all 25 → | |||
- James N. Topper's transaction reports restate only vehicles that traded; the 2024 ownership statement (2.88M) is used instead.
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 30, 2026 | John P. Schmid | director | −20,645 | $56.11 |
| Mar 27, 2026 | Daniel Faga | director, officer: President, CEO | −17,679 | $61.61 |
| Feb 11, 2026 | Eric J. Loumeau | officer: CHIEF LEGAL OFFICER | −10,000 | $54.00 |
| Jan 15, 2026 | Magda Marquet | director | −11,000 | $48.23 |
| Jan 8, 2026 | Daniel Faga | director, officer: President, CEO | −14,281 | $44.71 |
- Royalty Pharma
Largest direct public buyer of biopharma royalties
- Ligand Pharmaceuticals
Royalty aggregator expanding through XOMA deal
- Innoviva
GSK royalty holder with operating biopharma assets
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| AnaptysBio | $55.86 | +1.04% | $1.65B | — | — | 7.1 | −8.0% |
| Royalty Pharma | $63.45 | +0.54% | $27.98B | 36.3 | 13.7 | 11.0 | +33.6% |
| Ligand Pharmaceuticals | $287.09 | +0.99% | $5.75B | 30.7 | 27.9 | 19.8 | +33.7% |
| Innoviva | $21.18 | −0.81% | $1.58B | 5.2 | 10.0 | 3.6 | +19.3% |
| Median | 30.7 | 13.7 | 11.0 | +33.6% |