AnaptysBio Q2 Results: $385M Cash, $1M Revenue, $33M Net Loss

TL;DR

AnaptysBio has $385M cash, $1M revenue, and a $33M net loss for Q2 2024. Still burning cash but plenty of runway.

AI Summary

AnaptysBio, Inc. reported its financial results for the second quarter ended June 30, 2024. The company had cash, cash equivalents, and marketable securities of $385.0 million as of June 30, 2024. For the three months ended June 30, 2024, the company reported collaboration revenue of $1.0 million. The company's net loss for the three months ended June 30, 2024, was $33.0 million.

Why It Matters

This filing provides insight into AnaptysBio's financial health and operational performance, crucial for investors assessing the company's ability to fund its drug development pipeline.

Risk Assessment

Risk Level: medium — The company operates in the highly competitive and regulated pharmaceutical industry, with significant R&D expenses and reliance on clinical trial success.

Key Numbers

• $385.0M — Cash, cash equivalents, and marketable securities (As of June 30, 2024, indicating financial liquidity.)
• $1.0M — Collaboration Revenue (For the three months ended June 30, 2024, reflecting income from partnerships.)
• $33.0M — Net Loss (For the three months ended June 30, 2024, showing operational expenses exceeding revenue.)

Key Players & Entities

• ANAPTYSBIO, INC (company) — Filer
• 20240630 (date) — Period of Report
• $385.0 million (dollar_amount) — Cash, cash equivalents, and marketable securities as of June 30, 2024
• $1.0 million (dollar_amount) — Collaboration revenue for the three months ended June 30, 2024
• $33.0 million (dollar_amount) — Net loss for the three months ended June 30, 2024

FAQ

Key Financial Figures

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

Filing Documents

• anab-20240630.htm (10-Q) — 1314KB
• redactedsagard-anaptysbiof.htm (EX-10.29) — 82KB
• anab-6302024x10qxexx311.htm (EX-31.1) — 8KB
• anab-6302024x10qxexx312.htm (EX-31.2) — 8KB
• anab-6302024x10qxexx321.htm (EX-32.1) — 5KB
• anab-6302024x10qxexx322.htm (EX-32.2) — 5KB
• anab-20240630_g1.jpg (GRAPHIC) — 148KB
• 0001370053-24-000041.txt ( ) — 7163KB
• anab-20240630.xsd (EX-101.SCH) — 50KB
• anab-20240630_cal.xml (EX-101.CAL) — 54KB
• anab-20240630_def.xml (EX-101.DEF) — 199KB
• anab-20240630_lab.xml (EX-101.LAB) — 603KB
• anab-20240630_pre.xml (EX-101.PRE) — 398KB
• anab-20240630_htm.xml (XML) — 953KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Consolidated Financial Statements (unaudited) 1 Consolidated Balance Sheets as of June 3 0 , 2024 and December 31, 2023 1 Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 3 0 , 2024 and 2023 2 Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 3 0 , 2024 3 Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 3 0 , 2023 4 Consolidated Statements of Cash Flows for the Six Months Ended June 3 0 , 2024 and 2023 5 Notes to the Unaudited Consolidated Financial Statements 6 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 65 Item 3. Defaults Upon Senior Securities 66 Item 4. Mine Safety Disclosures 67 Item 5. Other Information 67 Item 6. Exhibits 67 Exhibit Index 67

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Consolidated Financial Statements (unaudited)

Item 1. Consolidated Financial Statements (unaudited) AnaptysBio, Inc. Consolidated Balance Sheets (in thousands, except par value data) (unaudited) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 71,821 $ 35,965 Receivables from collaborative partners 9,007 6,851 Short-term investments 278,983 354,939 Prepaid expenses and other current assets 7,539 9,080 Total current assets 367,350 406,835 Property and equipment, net 1,833 2,098 Operating lease right-of-use assets 15,291 16,174 Long-term investments 42,646 27,026 Other long-term assets 256 256 Total assets $ 427,376 $ 452,389 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,890 $ 4,698 Accrued expenses 33,680 30,967 Current portion of operating lease liability 1,850 1,777 Total current liabilities 40,420 37,442 Liability related to sale of future royalties 361,981 310,807 Operating lease liability, net of current portion 15,096 16,037 Stockholders' equity: Preferred stock, $ 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at June 30, 2024 and December 31, 2023, respectively — — Common stock, $ 0.001 par value, 500,000 shares authorized, 27,434 shares and 26,597 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 27 27 Additional paid in capital 714,959 702,969 Accumulated other comprehensive loss ( 415 ) ( 797 ) Accumulated deficit ( 704,692 ) ( 614,096 ) Total stockholders' equity 9,879 88,103 Total liabilities and stockholders' equity $ 427,376 $ 452,389 See accompanying notes to unaudited consolidated financial statements. 1 AnaptysBio, Inc. Consolidated Statements of Operations and Comprehensive Loss (in thousands, except per share data) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Collaboration revenue $ 10,971 $ 3,460 $ 18,150 $ 4,834 Operating expenses: Research and development 41,99

View Full Filing

View this 10-Q filing on SEC EDGAR