On November 12, 2026 AnaptysBio, Inc. (Nasdaq: ANAB), a company focused on managing the financial collaborations for Jemperli with Tesaro, a GSK company, and Quimilza (imsidolimab) with Vanda, reported financial results for the fiscal first quarter ended September 30, 2026, and provided a business update.
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"Jemperli’s continued commercial growth in endometrial cancer, with global net sales reaching $1 billion through September 30, 2026, and its recent U.S. approval in adults with stage II and III MSI-H/dMMR locally advanced rectal cancer reinforce our confidence in its long-term potential in monotherapy indications," said Daniel Faga, president and chief executive officer. "We remain focused on protecting and returning the value of our financial collaborations to shareholders as we approach a judgment in our litigation with GSK and Tesaro in calendar Q4 2026 or Q1 2027 and the FDA target action date for Quimilza in December 2026."
GSK Jemperli Financial Collaboration
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GSK announced commercial performance for Jemperli
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$365 million (£273 million) in global net sales for the three months ended September 30, 2026, representing 20% year-over-year growth1
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$1.0 billion (£753 million) in global net sales for the nine months ended September 30, 2026, representing 29% year-over-year growth1
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Anaptys receives royalties equal to 12% of net sales between $1.0 billion and $1.5 billion in a given calendar year
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Anaptys continues to expect to achieve >$390 million in annualized Jemperli royalties payable to Anaptys as early as 2029 at GSK’s peak monotherapy sales guidance of >$2.7 billion2
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Anaptys estimates Sagard will have accrued ~$330 million in royalties and sales milestones through September 30, 2026 and anticipates paydown of the remaining ~$270 million non-recourse debt monetization in calendar H2 2027
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Jemperli development and regulatory updates announced by GSK include:
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AZUR-1 – dostarlimab monotherapy in adults with stage II and III MSI-H/dMMR locally advanced rectal cancer
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In October 2026, GSK received U.S. Food and Drug Administration (FDA) approval
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GSK presented first results from the AZUR-1 trial as a late-breaking abstract at ESMO (Free ESMO Whitepaper) Congress 2026 in Madrid, Spain, on October 25, 2026
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Regulatory submission expected in Japan in calendar H1 2027 and in Europe and China in calendar H2 2027
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Regulatory decision expected in Europe in calendar H2 2027
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AZUR-2 – pivotal Phase 3 – dostarlimab versus standard of care in untreated TN40 or stage III dMMR/ MSI-H resectable colon cancer
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Data expected in 2028
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AZUR-4 – Phase 2 – dostarlimab plus chemotherapy versus standard of care (chemotherapy) in untreated stage III MMRp/MSS resectable colon cancer
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Primary completion date in Q4 2026
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JADE – pivotal Phase 3 – dostarlimab monotherapy versus placebo in locally advanced unresected head and neck squamous cell carcinoma (PD-L1 CPS≥1) post chemoradiation
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Data expected in 2028
Vanda Quimilza (imsidolimab) Financial Collaboration
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FDA target action date (PDUFA) of December 12, 2026, for Quimilza in generalized pustular psoriasis (GPP)
GSK and Tesaro Litigation Update
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The post-trial hearing was held before the Delaware Chancery Court on October 20, 2026
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Anaptys is seeking reversion of Jemperli rights as a remedy; the Company anticipates a judgment in calendar Q4 2026 or Q1 2027
Fiscal First Quarter Financial Results
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The separation of AnaptysBio and First Tracks Biotherapeutics was completed on April 20, 2026. Beginning in the second quarter of 2026, AnaptysBio reclassified historical First Tracks Biotherapeutics, Inc. related assets, liabilities and expenses as discontinued operations.
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Cash, cash equivalents and investments totaled $153.0 million as of September 30, 2026, compared to $164.1 million as of June 30, 2026, for a decrease of $11.1 million due primarily to $15.5 million used for operating activities offset by $4.4 million received from stock option exercises.
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Collaboration revenue was $30.3 million for the three months ended September 30, 2026, compared to $76.3 million for the three months ended September 30, 2025. The decrease is primarily due to $50 million in milestone revenue recognized in Q3 2025 offset by Jemperli royalties increasing 11% quarter over quarter for the three months ended September 30, 2026.
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General and administrative expenses from continuing operations were $11.6 million for the three months ended September 30, 2026, compared to $1.1 million for the three months ended September 30, 2025. The increase was due primarily to legal costs for the GSK and Tesaro lawsuit, audit and tax costs to support the June 30, 2026 transition year financials, and the allocation of G&A costs between AnaptysBio and First Tracks Biotherapeutics, Inc. for the three months ended September 30, 2025.
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The expenses recognized for the three months ended September 30, 2026, include $4.8 million in legal costs for the GSK and Tesaro litigation and $2.2 million in recurring expenses, including contractor support, legal services unrelated to the GSK and Tesaro litigation, and other public company expenses.
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The G&A non-cash, stock-based compensation expense was $3.2 million for the three months ended September 30, 2026, as compared to $0.5 million in the same period in 2025.
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Research and development expenses from continuing operations were a negative $1.3 million for the three months ended September 30, 2026, compared to a negative $2.0 million for the three months ended September 30, 2025.
The decrease for the three months ended September 30, 2026 was primarily due to adjustments related to the closeout of clinical contracts reducing expenses incurred prior to the separation.
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Net income from continuing operations was $3.9 million for the three months ended September 30, 2026, or a net income per share of $0.13, compared to a net income from continuing operations of $56.3 million for the three months ended September 30, 2025, or a net income per share of $2.02.
(Press release, AnaptysBio, NOV 12, 2026, View Source [SID1234674665])