AnaptysBio Stock Down as Eczema Study Fails to Meet Goals

Core Viewpoint - AnaptysBio, Inc. (ANAB) experienced a significant decline in share price by 32.8% following the announcement of unsuccessful results from its phase IIb study of ANB032, a BTLA agonist, leading to the discontinuation of further investment in this asset [1][2][9]. Company Performance - AnaptysBio's stock has decreased by 27.6% year-to-date, contrasting with an industry decline of 8.1% [3]. Study Details - The ARISE-AD study assessed the efficacy, safety, tolerability, pharmacokinetics, and pharmacodynamics of ANB032 in patients with moderate-to-severe atopic dermatitis, enrolling 201 patients with a mean baseline EASI score of 27.3 [4][5]. - Patients were randomized to receive different dosages of ANB032 or placebo over 12 weeks, but the drug did not meet the primary endpoint of achieving at least a 75% improvement in EASI score [6]. - None of the secondary endpoints were met, including EASI-90 and itch severity reduction, with higher placebo response rates observed particularly in the U.S. [7]. Safety Profile - Despite the disappointing efficacy results, ANB032 was well tolerated across all doses, with no safety signals reported [8]. Future Focus - AnaptysBio plans to shift focus to other candidates, including rosnilimab for rheumatoid arthritis and ANB033 and ANB101 in clinical development [10][11]. - The company anticipates a cash balance of approximately $415 million by the end of 2024, extending its cash runway guidance through the end of 2027 [12].