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AnaptysBio(ANAB) - 2024 Q3 - Quarterly Results
ANABAnaptysBio(ANAB)2024-11-05 21:17

Financial Performance - Cash and investments totaled 458.0millionasofSeptember30,2024,anincreaseof458.0 million as of September 30, 2024, an increase of 40.1 million from 417.9millionasofDecember31,2023[8].−Collaborationrevenuewas417.9 million as of December 31, 2023[8]. - Collaboration revenue was 30.0 million for the three months ended September 30, 2024, compared to 3.3millionforthesameperiodin2023,representingasignificantincrease[9].−Netlosswas3.3 million for the same period in 2023, representing a significant increase[9]. - Net loss was 32.9 million for the three months ended September 30, 2024, compared to a net loss of 37.3millionforthesameperiodin2023[12].−TotaloperatingexpensesforQ32024were37.3 million for the same period in 2023[12]. - Total operating expenses for Q3 2024 were 52,774,000, up from 41,050,000inQ32023,reflectinganincreaseof2841,050,000 in Q3 2023, reflecting an increase of 28%[18]. - Net loss for Q3 2024 was 32,851,000, an improvement from a net loss of 37,308,000inQ32023,indicatingareductionof1237,308,000 in Q3 2023, indicating a reduction of 12%[18]. - Comprehensive loss for Q3 2024 was (31,677,000), compared to (36,047,000)inQ32023,showingadecreaseof12(36,047,000) in Q3 2023, showing a decrease of 12%[18]. - Basic and diluted net loss per common share for Q3 2024 was (1.14), compared to (1.41)inQ32023[18].ResearchandDevelopment−Researchanddevelopmentexpenseswere(1.41) in Q3 2023[18]. Research and Development - Research and development expenses were 42.2 million for the three months ended September 30, 2024, up from 30.9millioninthesameperiodin2023[10].−Researchanddevelopmentexpensesroseto30.9 million in the same period in 2023[10]. - Research and development expenses rose to 42,212,000 in Q3 2024, compared to 30,878,000inQ32023,markinganincreaseof3730,878,000 in Q3 2023, marking an increase of 37%[18]. - ANB032 Phase 2b trial in atopic dermatitis is expected to report top-line data in December 2024, with approximately 200 patients enrolled[3]. - Rosnilimab Phase 2b trial in rheumatoid arthritis is expected to report top-line data in February 2025, with approximately 420 patients enrolled[4]. - Phase 1 trial for ANB033, an anti-CD122 antagonist, was initiated in October 2024, with Phase 1b indication expected to be disclosed in 2025[6]. Expenses - General and administrative expenses were 10.6 million for the three months ended September 30, 2024, compared to 10.2millionforthesameperiodin2023[11].−Totalother(expense)income,netforQ32024was10.2 million for the same period in 2023[11]. - Total other (expense) income, net for Q3 2024 was (10,094,000), a decline from 424,000inQ32023[18].−Non−cashinterestexpenseforthesaleoffutureroyaltiesincreasedto424,000 in Q3 2023[18]. - Non-cash interest expense for the sale of future royalties increased to (15,413,000) in Q3 2024 from (4,431,000)inQ32023[18].CashandFunding−Thecompanyreiteratesitscashrunwaythroughyear−end2026,supportedbyrecentfundingactivities[8].−InterestincomeforQ32024increasedto(4,431,000) in Q3 2023[18]. Cash and Funding - The company reiterates its cash runway through year-end 2026, supported by recent funding activities[8]. - Interest income for Q3 2024 increased to 5,324,000 from 4,854,000inQ32023,representingagrowthof104,854,000 in Q3 2023, representing a growth of 10%[18]. - The weighted-average number of shares outstanding for Q3 2024 was 28,893,000, up from 26,546,000 in Q3 2023[18]. Licensing and Collaboration - The company intends to out-license imsidolimab, a cytokine antagonist, in 2024[6]. - Collaboration revenue for Q3 2024 was 30,017,000, a significant increase from $3,318,000 in Q3 2023, representing a growth of 804%[18].