On January 13, 2023 AnaptysBio, Inc. (Nasdaq: ANAB), a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics, reported 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 (Press release, AnaptysBio, JAN 13, 2023, View Source [SID1234626216]). 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.

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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.