AnaptysBio Announces Stock Repurchase Plan
14 January 2023 - 1:00AM
AnaptysBio, Inc. (Nasdaq: ANAB), a clinical-stage biotechnology
company focused on delivering innovative immunology therapeutics,
today announced that its Board of Directors has authorized a Stock
Repurchase Plan under which the Company may repurchase up to
$50,000,000 of the Company’s outstanding common stock, par value
$0.001 per share. With cash, cash equivalents and investments
greater than $575 million as of December 31, 2022, notwithstanding
the potential full execution of the Stock Repurchase Plan, the
company reiterates its previous guidance that it anticipates having
approximately 4 years of capital to execute against its non-risk
adjusted research and development plan, excluding potential future
royalties from its GSK immuno-oncology financial collaboration.
The shares may be repurchased from time to time in open market
transactions, or other means in accordance with Rule 10b5-1 of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"),
and Rule 10b-18 of the Exchange Act. The timing, number of shares
repurchased, and prices paid for the stock under this program will
depend on general business and market conditions as well as
corporate and regulatory limitations, prevailing stock prices, and
other considerations. The Stock Repurchase Plan will expire on
December 31, 2023, may be suspended or discontinued at any time,
and does not obligate the company to acquire any amount of common
stock.
About AnaptysBio
AnaptysBio is a clinical-stage biotechnology company focused on
delivering innovative immunology therapeutics. It is developing
immune cell modulating antibodies, including two checkpoint
agonists in clinical-stage development, for autoimmune and
inflammatory diseases: rosnilimab, its PD-1 agonist, in a planned
Phase 2b trial for the treatment of moderate-to-severe rheumatoid
arthritis; and ANB032, its BTLA agonist, in a planned Phase 2b
trial for the treatment of moderate-to-severe atopic dermatitis.
Its preclinical immune cell modulator portfolio includes ANB033, an
anti-CD122 antagonist antibody for the treatment of autoimmune and
inflammatory diseases. AnaptysBio has developed two cytokine
antagonists available for outlicensing: imsidolimab, an anti-IL-36r
antagonist, in Phase 3 for the treatment of generalized pustular
psoriasis, or GPP, and etokimab, an anti-IL-33 antagonist that is
Phase 2/3 ready. AnaptysBio has also discovered antibodies
licensed to GSK in a financial collaboration for immune-oncology,
including an anti-PD-1 antagonist (JEMPERLI (dostarlimab-gxly)), an
anti-TIM-3 antagonist (cobolimab, GSK4069889) and an anti-LAG-3
antagonist (GSK4074386).
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to: the company’s ability to execute the Stock Repurchase
Plan, in whole or in part; the company’s ability to find a
licensing partner for imsidolimab or etokimab and the timing of any
such transaction; and the company’s projected cash runway.
Statements including words such as “plan,” “continue,” “expect,” or
“ongoing” and statements in the future tense are forward-looking
statements. These forward-looking statements involve risks and
uncertainties, as well as assumptions, which, if they do not fully
materialize or prove incorrect, could cause its results to differ
materially from those expressed or implied by such forward-looking
statements. Forward-looking statements are subject to risks and
uncertainties that may cause the company’s actual activities or
results to differ significantly from those expressed in any
forward-looking statement, including risks and uncertainties
related to the company’s ability to advance its product candidates,
obtain regulatory approval of and ultimately commercialize its
product candidates, the timing and results of preclinical and
clinical trials, the company’s ability to fund development
activities and achieve development goals, the company’s ability to
protect intellectual property and other risks and uncertainties
described under the heading “Risk Factors” in documents the company
files from time to time with the Securities and Exchange
Commission. These forward-looking statements speak only as of the
date of this press release, and the company undertakes no
obligation to revise or update any forward-looking statements to
reflect events or circumstances after the date hereof.
Contact:Dennis MulroyAnaptysBio, Inc.
858.732.0201dmulroy@anaptysbio.com
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