AnaptysBio, Inc. Files 2023 Annual Report on Form 10-K

Ticker: ANAB · Form: 10-K · Filed: Mar 11, 2024 · CIK: 1370053

Anaptysbio, Inc 10-K Filing Summary
FieldDetail
CompanyAnaptysbio, Inc (ANAB)
Form Type10-K
Filed DateMar 11, 2024
Risk Levelmedium
Pages15
Reading Time17 min
Key Dollar Amounts$0.001
Sentimentneutral

Sentiment: neutral

Topics: 10-K, AnaptysBio, Annual Report, Pharmaceuticals, Biotechnology

TL;DR

<b>AnaptysBio, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

ANAPTYSBIO, INC (ANAB) filed a Annual Report (10-K) with the SEC on March 11, 2024. AnaptysBio, Inc. filed its 2023 Form 10-K on March 11, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 10770 Wateridge Circle, Suite 210, San Diego, CA 92121. AnaptysBio, Inc. is classified under the SIC code 2834 for Pharmaceutical Preparations. The company was formerly known as Anaptys Biosciences Inc.

Why It Matters

For investors and stakeholders tracking ANAPTYSBIO, INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of AnaptysBio's financial health, operational status, and strategic direction for the past fiscal year, which is crucial for investors to assess the company's performance and future prospects. As a pharmaceutical preparations company, understanding the details within this filing is essential for stakeholders to evaluate the company's progress in drug development, regulatory compliance, and market positioning within the biotechnology sector.

Risk Assessment

Risk Level: medium — ANAPTYSBIO, INC shows moderate risk based on this filing. The company operates in the highly competitive and regulated pharmaceutical industry, facing risks related to clinical trial success, regulatory approvals, and market adoption of its products.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand AnaptysBio's current financial position and potential challenges in its drug development pipeline.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Reporting period)
  • 2024-03-11 — Filing Date (Date of submission)
  • 001-37985 — SEC File Number (SEC registration number)

Key Players & Entities

  • ANAPTYSBIO, INC (company) — Filer name
  • ANAB (company) — Ticker symbol
  • 2024-03-11 (date) — Filing date
  • 2023-12-31 (date) — Fiscal year end
  • 10770 Wateridge Circle, Suite 210, San Diego, CA 92121 (address) — Business address
  • 2834 (industry_code) — Standard Industrial Classification
  • ANAPTYS BIOSCIENCES INC (company) — Former company name

FAQ

When did ANAPTYSBIO, INC file this 10-K?

ANAPTYSBIO, INC filed this Annual Report (10-K) with the SEC on March 11, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by ANAPTYSBIO, INC (ANAB).

Where can I read the original 10-K filing from ANAPTYSBIO, INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ANAPTYSBIO, INC.

What are the key takeaways from ANAPTYSBIO, INC's 10-K?

ANAPTYSBIO, INC filed this 10-K on March 11, 2024. Key takeaways: AnaptysBio, Inc. filed its 2023 Form 10-K on March 11, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal executive offices are located at 10770 Wateridge Circle, Suite 210, San Diego, CA 92121..

Is ANAPTYSBIO, INC a risky investment based on this filing?

Based on this 10-K, ANAPTYSBIO, INC presents a moderate-risk profile. The company operates in the highly competitive and regulated pharmaceutical industry, facing risks related to clinical trial success, regulatory approvals, and market adoption of its products.

What should investors do after reading ANAPTYSBIO, INC's 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to understand AnaptysBio's current financial position and potential challenges in its drug development pipeline. The overall sentiment from this filing is neutral.

Risk Factors

  • Regulatory Risks [high — regulatory]: The company is subject to extensive government regulation, including the FDA, which can impact product development, manufacturing, and marketing.
  • Market Competition [high — market]: The pharmaceutical market is highly competitive, with many companies developing therapies for similar diseases, posing a risk to market share and pricing.
  • Funding and Liquidity [medium — financial]: The company's ability to fund its operations and development programs depends on its access to capital, which may be affected by market conditions and its financial performance.
  • Clinical Trial Risks [high — operational]: The success of drug development is uncertain, and clinical trials may fail to demonstrate safety or efficacy, leading to significant delays or discontinuation of programs.

Key Dates

  • 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
  • 2024-03-11: Filing Date — Date the 10-K was officially submitted to the SEC.

Filing Stats: 4,357 words · 17 min read · ~15 pages · Grade level 16.4 · Accepted 2024-03-11 16:36:00

Key Financial Figures

  • $0.001 — ange on which registered Common Stock, $0.001 par value ANAB The Nasdaq Stock Market

Filing Documents

Risk Factors

Item 1A. Risk Factors 19

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 49 Item 1C. C y bersecurity 50

Properties

Item 2. Properties 50

Legal Proceedings

Item 3. Legal Proceedings 51

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 51 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 52

Reserved

Item 6. Reserved 52

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 53

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 64

Consolidated Financial Statements and Supplementary Data

Item 8. Consolidated Financial Statements and Supplementary Data 66

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 92

Controls and Procedures

Item 9A. Controls and Procedures 92

Other Information

Item 9B. Other Information 92

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 93 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 93

Executive Compensation

Item 11. Executive Compensation 93

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 93

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 93

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 93 PART IV

Exhibits, Consolidated Financial Statement Schedules

Item 15. Exhibits, Consolidated Financial Statement Schedules 94

Form 10-K Summary

Item 16. Form 10-K Summary 97

Signatures

Signatures 98 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K ("Annual Report") contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and section 27A of the Securities Act of 1933, as amended (the "Securities Act"). The words "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "intend," "could," "would," "project," "plan," and "expect," and similar expressions that convey uncertainty of future events or outcomes, are intended to identify forward-looking statements. The forward-looking statements in this report include, among other things, statements about: the success, cost, and timing of our product candidate development activities and ongoing and planned clinical trials; our plans to develop and commercialize antibodies, including our two checkpoint agonists in clinical-stage development: rosnilimab and ANB032; our ability to develop our product candidates; the likelihood that the clinical data generated in any study we performed, are performing, or plan to perform in a non-U.S. jurisdiction will be subsequently accepted by the U.S. Food and Drug Administration ("FDA") and/or by foreign regulatory authorities outside of the jurisdiction where the study was being performed; the potential benefits and advantages of our product candidates and approaches versus those of our competitors; the success of competing therapies that are or may become available; the timing of and the ability to obtain and maintain regulatory approvals for our product candidates, partnered product candidates and/or product candidates for which we may receive royalties; the rate and degree of market acceptance and clinical utility of any approved product candidates; the size and growth potential of the markets for any approved product candidates, and our ability to serve those markets; our commercialization, marketing, and manufactu

Business

Item 1. Business Overview We are a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics. We are developing immune cell modulating antibodies, including two wholly owned checkpoint agonists in clinical-stage development, for autoimmune and inflammatory diseases: rosnilimab, our PD-1 agonist in a Phase 2b trial for the treatment of moderate-to-severe rheumatoid arthritis ("RA") and a Phase 2 trial for the treatment of moderate-to-severe ulcerative colitis ("UC"); and ANB032, our BTLA agonist, in a Phase 2b trial for the treatment of moderate-to-severe atopic dermatitis ("AD"). We also have other preclinical immune cell modulator candidates for the treatment of autoimmune and inflammatory diseases in our portfolio, including ANB033, an anti-CD122 antagonist antibody, and ANB101, a BDCA2 modulator antibody. In addition, we have developed two cytokine antagonists that we are exploring options for out-licensing: imsidolimab, our anti-IL-36R antibody, in Phase 3 development for the treatment of generalized pustular psoriasis ("GPP"), and etokimab, our anti-IL-33 antagonist that is Phase 2/3 ready. We have also discovered multiple therapeutic antibodies licensed to GlaxoSmithKline, Inc. ("GSK") in a financial collaboration for immuno-oncology, including an anti-PD-1 antagonist antibody ( Jemperli (dostarlimab-gxly)) and an anti-TIM-3 antagonist antibody (cobolimab, GSK4069889). We currently recognize revenue from milestones and royalties achieved under our immuno-oncology collaboration with GSK. Our Wholly Owned Product Candidate Pipeline Our immune cell modulating antibodies, including checkpoint agonists for PD-1 and BTLA, treat inflammatory disorders by down regulating immune responses mediated by multiple immune cell types including T cells, B cells, and dendritic cells. T cells require both antigen presentation to the T cell receptor and co-stimulation to be activated. When these interactions are inhibited, T cells can't be

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