ANAB

CorMedix (CRMD) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +11.54%. A quarter ago, it was expected that this pharmaceutical and medical device company would post earnings of $0.35 per share when it actually produced earnings of $0.43, delivering a surprise of +22.86%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. CorMedix, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $101.93 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 7.64%. This compares to year-ago revenues of $39.74 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. CorMedix shares have lost about 39% since the beginning of the year versus the S&P 500's gain of 13.2%. While CorMedix has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for CorMedix was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.08 on $53.9 million in revenues for the coming quarter and $0.51 on $335.4 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. AnaptysBio, Inc. (ANAB), another stock in the same industry, has yet to report results for the quarter ended June 2026. This company is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of +83.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. AnaptysBio, Inc.'s revenues are expected to be $27.4 million, up 23.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CorMedix Inc (CRMD) : Free Stock Analysis Report AnaptysBio, Inc. (ANAB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Completed spin-off of First Tracks Biotherapeutics, Inc., its former biopharma operations business Now exclusively manages the financial collaborations for Jemperli with GSK and imsidolimab with Vanda Announced appointment of Chris Murphy as CFO Announced appointments of Susannah Gray, former CFO of Royalty Pharma, and Owen Hughes, current CEO of XOMA Royalty, to its Board of Directors SAN DIEGO, May 12, 2026 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (Nasdaq: ANAB), a company focused on managing the financial collaborations for Jemperli with GSK and imsidolimab with Vanda, today reported financial results for the first quarter ended March 31, 2026, and provided a business update. “Following the completion of the spin-off of First Tracks Bio in late April, Anaptys now exclusively manages the financial collaborations for Jemperli and imsidolimab, with streamlined operations requiring limited FTEs, minimal operating expenses and delivering an EBIT margin greater than 95%,” said Daniel Faga, president and chief executive officer. “With Chris Murphy joining as CFO, who brings deep business development and investment banking experience, our priority continues to be to protect our two royalty streams and return their value to shareholders.” GSK Jemperli Financial Collaboration GSK announced strong commercial performance for Jemperli ($313 million/£232 million in Q1 2026 sales, with >40% year-over-year growth1) Anaptys continues to expect to achieve >$390 million in annualized Jemperli royalties payable to Anaptys as early as 2029 at GSK’s peak sales guidance of >$2.7 billion2 Anaptys estimates Sagard will have accrued ~$275 million in royalties and sales milestones through Q1 2026 and anticipates paydown of the remaining ~$325 million non-recourse debt monetization by the end of Q2 20273 Substantial GSK investment in additional monotherapy and potential combination trials for Jemperli, including: AZUR-1 – pivotal Phase 2 – dostarlimab monotherapy in untreated stage II/III dMMR/MSI-H locally advanced rectal cancer Data expected in H2 2026; U.S. FDA Breakthrough Therapy Designation Received an FDA Commissioner’s National Priority Voucher (CNPV) in Nov. 2025 allowing for only a one to two-month sBLA review timeline for US FDA approval AZUR-2 – pivotal Phase 3 – dostarlimab versus standard of care in untreated TN40 or stage III dMMR/ MSI-H resectable colon cancer Data expected in 2028 AZUR-4 – Phase 2 – dostarlimab plus chemotherapy versus standard of care (chemotherapy) in untreated stage III MMRp/MSS resectable colon cancer Data expected in Q4 2026 JADE – pivotal Phase 3 – dostarlimab monotherapy versus placebo in locally advanced unresected head and neck squamous cell carcinoma (PD-L1 CPS≥1) post chemoradiation Data expected in 2028 Vanda Imsidolimab Financial Collaboration FDA target action date (PDUFA) of Dec. 12, 2026 for imsidolimab in generalized pustular psoriasis (GPP) Recent Leadership and Board of Directors Appointments Announced appointment of Chris Murphy as Chief Financial Officer (CFO) Mr. Murphy brings >20 years’ experience in business development, commercial operations, corporate strategy and investment banking in the biopharmaceutical industry Announced appointment of industry veterans Susannah Gray and Owen Hughes to Board of Directors Ms. Gray brings >25 years’ experience in both finance and investment banking in the biopharmaceutical industry, formerly CFO of Royalty Pharma Mr. Hughes brings >25 years’ experience as both an operator and investor in the biopharmaceutical industry, currently leading XOMA Royalty as CEO Stock Repurchase Plan Announced a $100.0 million Stock Repurchase Plan in March 2026. It will expire on Dec. 31, 2026, may be suspended or discontinued at any time, and does not obligate the company to acquire any amount of common stock First Quarter Financial Results The separation of Anaptys and First Tracks Bio was completed on April 20, 2026. As a result, in the first quarter of 2026, the financial results include assets, liabilities and expenses related to both companies. Beginning in the second quarter of 2026, Anaptys expects to reclassify historical First Tracks Bio related assets, liabilities and expenses as discontinued operations. Cash, cash equivalents and investments totaled $286.5 million as of March 31, 2026, compared to $311.6 million as of Dec. 31, 2025, for a decrease of $25.1 million due primarily to operating activities offset by $14.0 million received from stock option exercises. Collaboration revenue was $25.6 million for the three months ended March 31, 2026, compared to $27.8 million for the three months ended March 31, 2025. The decrease in revenue was primarily due to $9.7 million in revenue recognized for the Vanda license agreement for the three months ended March 31, 2025 offset by Jemperli royalties increasing 44% from $17.2 million to $24.7 million for the three months ended March 31, 2026. Research and development expenses were $34.0 million for the three ended March 31, 2026, compared to $41.2 million for the three months ended March 31, 2025. The decrease for the three months ended March 31, 2026 was primarily due to decreased development costs for rosnilimab and ANB032 offset by increased costs relating to the phase 1 trials for ANB033. The R&D non-cash, stock-based compensation expense was $4.6 million for the three months ended March 31, 2026 as compared to $4.4 million in the same period in 2025. General and administrative expenses were $26.2 million for the three months ended March 31, 2026, compared to $14.1 million for the three months ended March 31, 2025. The increase was due primarily to legal costs for the separation of the company, ongoing GSK litigation and non-cash stock compensation costs incurred for our former Chief Financial Officer and former Chief Legal Officer. The G&A non-cash, stock-based compensation expense was $9.7 million for the three months ended March 31, 2026 as compared to $4.8 million in the same period in 2025. Net loss was $52.9 million for the three months ended March 31, 2026, or a net loss per share of $1.84, compared to a net loss of $39.3 million for the three months ended March 31, 2025, or a net loss per share of $1.28. About AnaptysBio Anaptys manages the financial collaborations for Jemperli with GSK and imsidolimab with Vanda, with a focus on protecting and returning the value of its royalties to shareholders. To learn more, visit www.AnaptysBio.com or follow us on LinkedIn. 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 whether Anaptys is able to protect its financial collaborations; and its ability to return value to its shareholders. 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 protect its financial collaborations and return value to its shareholders, the company’s ability to operate efficiently with a limited staff, 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. This press release also includes a reference to EBIT margin which is a measure not presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), which Anaptys believes provides important perspective with respect to operational profitability. Non-GAAP financial measures may exclude items that are significant in understanding and assessing Anaptys’ financial results, should not be considered in isolation or as an alternative to GAAP measures, and should be considered only as a supplement to, and not as superior to, GAAP measures. Anaptys cannot predict with certainty the magnitude or scope of certain items that would be included in the most directly comparable GAAP measure to EBIT margin for the relevant future periods, and such items may be significant. Due to these uncertainties, Anaptys cannot provide a quantitative reconciliation of EBIT margin to the most directly comparable GAAP financial measure without unreasonable effort. Investor Contact: Anaptys Investor Relations [email protected] _______________________________________

Shares of Rocket Pharmaceuticals RCKT were down on Friday after the company announced weaker-than-expected first-quarter 2026 earnings. RCKT incurred a loss of 42 cents per share in the first quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 41 cents. In the year-ago quarter, the company had reported a loss of 56 cents per share. Rocket Pharmaceuticals did not record any revenues in the first quarter. Year to date, shares of Rocket Pharmaceuticals have risen 3.4% against the industry’s decline of 1.7%. Image Source: Zacks Investment Research In the reported quarter, general and administrative expenses declined by around 39.8% year over year to $17.1 million, owing to lower legal expenses and other expenses. Research and development expenses were $31.5 million, down 12.2% from the year-ago quarter’s figure. The decrease reflects more disciplined spending and resource management after the company’s recent organizational restructuring. As of March 31, 2026, Rocket Pharmaceuticals had cash, cash equivalents and investments of $144.4 million compared with $188.9 million as of Dec. 31, 2025. Management expects this cash balance, along with proceeds from the sale of the Priority Review Voucher (PRV) announced last month, to fund operations into the second quarter of 2028. In March 2026, the FDA granted accelerated approval to RCKT’s gene therapy Kresladi (marnetegragene autotemcel) to treat patients with severe leukocyte adhesion deficiency-I (LAD-I), an ultra-rare genetic disorder. Following the nod, Kresladi became the first gene therapy to be approved by the FDA for treating children with severe LAD-I due to biallelic variants in ITGB2 without an available human leukocyte antigen-matched sibling donor for allogeneic hematopoietic stem cell transplant. With the FDA approval for Kresladi, the company received a Rare Pediatric Disease PRV, which is an incentive given by the FDA to encourage the development of drugs and biologics for rare and serious diseases. Last month, RCKT entered into a definitive agreement to sell its PRV for $180 million. The PRV monetization provides non-dilutive capital to support the company’s cardiovascular pipeline. Last August, the FDA lifted the clinical hold on the pivotal phase II study evaluating RCKT’s investigational gene therapy candidate, RP-A501, for treating patients with Danon disease. RP-A501 is the most advanced AAV-based candidate in the company’s pipeline. Per an agreement with the FDA, three more patients are being treated with a lower, recalibrated dose of RP-A501 (3.8 x 10¹³ GC/kg), with a minimum four-week interval between doses and an updated immune-modulating regimen. After these patients are treated, RCKT will discuss completion of the pivotal phase II study with the FDA. The company expects to provide an update in the second half of 2026 following these discussions. Rocket Pharmaceuticals is also developing RP-A601 in an early-stage study for treating arrhythmogenic cardiomyopathy. The company also plans to start clinical studies on a new gene therapy candidate, RP-A701, for the treatment of dilated cardiomyopathy by mid-2026. Rocket Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Rocket Pharmaceuticals, Inc. Quote Rocket Pharmaceuticals currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the biotech sector are Agenus AGEN, Amarin AMRN and AnaptysBio ANAB, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 58 cents to $2.10, while loss per share estimates for 2027 have narrowed from $1.51 to 73 cents during the same time. AGEN shares have surged 21.6% year to date. Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%. Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $7.01 to $6.36, while the same for 2027 have narrowed from $5.50 to $4.64 during the same time. AMRN stock has risen 7.8% year to date. Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 50.02%. Over the past 60 days, 2026 loss per share estimates for AnaptysBio have narrowed from $3.61 to $1.30, while estimates for 2027 have moved from a loss of $4.59 per share to earnings of $3.01 during the same time. ANAB stock has surged 43% year to date. AnaptysBio’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 59.70%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Agenus Inc. (AGEN) : Free Stock Analysis Report Amarin Corporation PLC (AMRN) : Free Stock Analysis Report AnaptysBio, Inc. (ANAB) : Free Stock Analysis Report Rocket Pharmaceuticals, Inc. (RCKT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

TG Therapeutics TGTX reported earnings of 17 cents per share (excluding the loss on extinguishment of debt) for the first quarter of 2026, missing the Zacks Consensus Estimate of 23 cents. The company had reported earnings of 3 cents per share in the year-ago quarter. Total revenues in the first quarter were $204.9 million, up almost 69.5% year over year, driven by strong demand for the company’s sole marketed drug, Briumvi (ublituximab-xiiy). The figure beat the Zacks Consensus Estimate of $199 million. Briumvi, an anti-CD20 monoclonal antibody, was approved by the FDA for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS) in December 2022. The drug is also approved in the European Union, the United Kingdom, Australia, Switzerland and certain other countries. The top line comprised product sales from Briumvi and license, royalty and other revenues. Total product revenues were $201.3 million in the first quarter, reflecting a 68.2% year-over-year increase. Total product revenues included sales of Briumvi to TGTX’s licensing partner, in ex-U.S. markets, Neuraxpharm, of $6.5 million. TG Therapeutics has an agreement with Neuraxpharm Pharmaceuticals for the ex-U.S. commercialization of Briumvi, wherein the company is entitled to receive payments upon the achievement of certain commercial milestones and targets. Briumvi's net product sales in the United States were $194.8 million in the first quarter, up 63% year over year. Sales of the drug came in ahead of management’s guided range of $185-$190 million. License, milestone, royalty and other revenues were $3.6 million in the first quarter, compared with $1.2 million reported in the year-ago quarter. Research and development (R&D) expenses (excluding non-cash compensation) rose around 1.2% year over year to $43.5 million due to higher expenses related to ongoing clinical studies. Selling, general and administrative (SG&A) expenses (excluding non-cash compensation) totaled $73.1 million, up almost 88.9% from the year-ago quarter’s level, due to higher commercialization costs for Briumvi as well as other personnel costs. As of March 31, 2026, TG Therapeutics had cash, cash equivalents and investments worth $572.8 million compared with $199.5 million as of Dec. 31, 2025. TG Therapeutics raised its total revenue guidance. The company now expects worldwide total revenues of around $925 million in 2026, including net product revenues of $885-$900 million from Briumvi sales in the United States. Previously, the company expected total revenues in the range of $875 million to $900 million in 2026, including net product revenues of $825-$850 million from Briumvi sales in the United States. Owing to the upbeat revenue outlook, TGTX shares were up 16.3% yesterday following the announcement of the news. The stock has rallied 40.8% in the year-to-date period against the industry’s decline of 1.6%. Image Source: Zacks Investment Research In the second quarter of 2026, net product revenues from Briumvi sales in the United States are expected to be $220 million. Excluding non-cash compensation, total operating expenses, defined as R&D and SG&A, are expected to be around $350 million in 2026, unchanged from the previous expectation. Several additional studies on Briumvi targeting other autoimmune diseases are currently ongoing. Last month, TG Therapeutics completed enrollment in the phase III study evaluating the subcutaneous formulation of Briumvi for treating people with relapsing forms of multiple sclerosis (RMS). Top-line data from the same is to be announced by the end of 2026 or the first quarter of 2027. The company recently completed patient enrollment in the phase III ENHANCE study evaluating the potential to consolidate the day-one and day-15 infusions of Briumvi into a single 600-mg infusion on day one. Top-line data from the study is expected in mid-2026. TG Therapeutics is also developing Briumvi for additional autoimmune indications, including starting a potentially registration-directed study evaluating Briumvi in patients with myasthenia gravis. TG Therapeutics is also developing azer-cel, an allogeneic CD19-directed CAR T cell therapy, in a phase I study for treating patients with primary progressive multiple sclerosis. Preliminary data from this study is expected to be presented in the second half of 2026. TG Therapeutics, Inc. price-consensus-eps-surprise-chart | TG Therapeutics, Inc. Quote TG Therapeutics currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the biotech sector are Agenus AGEN, AnaptysBio ANAB and Amarin AMRN, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have surged 23.9% year to date. Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%. Over the past 60 days, 2026 loss per share estimates for AnaptysBio have narrowed from $1.42 to $1.40, while estimates for 2027 have moved from a loss of $4.59 per share to earnings of $3.01 during the same time. ANAB stock has increased 38.9% year to date. AnaptysBio’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 59.70%. Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $7.01 to $6.36, while the same for 2027 have narrowed from $5.50 to $4.64 during the same time. AMRN stock has risen 6.8% year to date. Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 50.02%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Agenus Inc. (AGEN) : Free Stock Analysis Report Amarin Corporation PLC (AMRN) : Free Stock Analysis Report TG Therapeutics, Inc. (TGTX) : Free Stock Analysis Report AnaptysBio, Inc. (ANAB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Mirum Pharmaceuticals MIRM incurred a loss of 39 cents per share (excluding certain one-time expenses) in the first quarter of 2026, narrower than the Zacks Consensus Estimate of a loss of 40 cents. The company had reported a loss of 30 cents per share in the year-ago quarter. Revenues in the first quarter totaled $159.9 million, up 43.3% year over year. The figure also beat the Zacks Consensus Estimate of $148 million. The top line was driven by strong growth of its marketed products, Livmarli (maralixibat) and recently acquired bile acid medicines, Cholbam and Ctexli (chenodiol). Livmarli is approved for treating cholestatic pruritus in patients with Alagille syndrome worldwide. The drug is also approved for treating certain patients with progressive familial intrahepatic cholestasis in the United States and Europe. Last year, the FDA approved a new tablet formulation of Livmarli for the treatment of cholestatic pruritus in patients with Alagille syndrome and progressive familial intrahepatic cholestasis. The oral tablet was launched in the United States in June 2025, which is likely to offer convenience for older patients. Mirum acquired Travere Therapeutics’ bile acid products in August 2023, which added the latter’s Cholbam capsules and Ctexli tablets to its portfolio of commercialized drugs. Shares of Mirum have rallied 39.3% so far this year against the industry’s decline of 1.6%. Image Source: Zacks Investment Research Livmarli’s net product sales were $113.8 million in the first quarter, reflecting an increase of 55% year over year. Livmarli sales in the United States were $84 million, reflecting strong demand across all indications. In ex-U.S. markets, Livmarli sales were $30 million. Net product sales of bile acid products, comprising Cholbam and Ctexli tablets, were $46.1 million in the first quarter, reflecting an increase of 20% year over year. The company did not record any license and other revenues in the reported quarter. Research and development expenses increased almost 138.8% year over year to $97.9 million. Selling, general and administrative expenses totaled $96.3 million, up almost 66.9% from the year-ago quarter’s level. As of March 31, 2026, Mirum had cash, cash equivalents and investments worth $420.6 million compared with $391.4 million as of Dec 31, 2025. Reflecting the strong performance of its marketed products, Mirum raised its full-year revenue guidance for 2026. The company now expects worldwide net product sales of approximately $660-$680 million in 2026, compared with the previous expectation of $630-$650 million. Mirum is evaluating Livmarli in the phase III EXPAND study for treating additional rare cholestatic conditions. Enrollment in the study was completed last month, with top-line data from the same expected in the fourth quarter of 2026. Mirum’s lead pipeline candidate, volixibat, is currently being evaluated in two phase IIb studies for treating patients with primary biliary cholangitis (the VANTAGE study) and primary sclerosing cholangitis (the VISTAS study). The company recently announced that the phase IIb VISTAS study, which evaluated volixibat in patients with primary sclerosing cholangitis, has met its primary endpoint. MIRM has scheduled a pre-new drug application (NDA) meeting with the FDA for volixibat in PSC in the summer of 2026 and plans to submit the NDA in the second half of 2026. The company expects to report top-line data from the VANTAGE study in the first quarter of 2027. Mirum is evaluating its newly in-licensed PDE4D inhibitor, MRM-3379, in the phase II BLOOM study, for treating Fragile X syndrome, a rare genetic neurocognitive disorder. Mirum recently completed the acquisition of privately held biotech Bluejay Therapeutics. Through this deal, it added brelovitug — a fully human monoclonal antibody being developed to treat chronic hepatitis delta virus (“HDV”) — to its pipeline. Top-line data from the phase III AZURE-1 and AZURE-4 studies evaluating brelovitug in HDV are expected in the second half of 2026. Along with the earnings release, Mirum announced that it has in-licensed exclusive worldwide rights to zilurgisertib, a once-daily oral ALK2 inhibitor from Incyte INCY. The candidate is being developed for treating fibrodysplasia ossificans progressiva (FOP). Based on data from the pivotal phase II PROGRESS study, which was conducted by Incyte, the FDA has accepted the NDA for zilurgisertib in FOP. With the FDA granting a priority review to the NDA, a decision from the regulatory body is expected on Sept. 26, 2026. If approved, MIRM expects to launch zilurgisertib by 2026-end. As part of the exclusive worldwide licensing deal for zilurgisertib, INCY received an upfront payment of $16 million and is eligible for additional development and regulatory milestones. Mirum Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Mirum Pharmaceuticals, Inc. Quote Mirum currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the biotech sector are Agenus AGEN and AnaptysBio ANAB, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have surged 23.9% year to date. Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%. Over the past 60 days, 2026 loss per share estimates for AnaptysBio have narrowed from $1.42 to $1.40, while estimates for 2027 have moved from a loss of $4.59 per share to earnings of $3.01 during the same time. ANAB stock has increased 38.9% year to date. AnaptysBio’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 59.70%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Incyte Corporation (INCY) : Free Stock Analysis Report Agenus Inc. (AGEN) : Free Stock Analysis Report AnaptysBio, Inc. (ANAB) : Free Stock Analysis Report Mirum Pharmaceuticals, Inc. (MIRM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Wall Street expects a year-over-year increase in earnings on lower revenues when AnaptysBio, Inc. (ANAB) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This company is expected to post quarterly loss of $0.77 per share in its upcoming report, which represents a year-over-year change of +39.8%. Revenues are expected to be $27.5 million, down 1% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 2.52% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For AnaptysBio, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -27.86%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that AnaptysBio will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that AnaptysBio would post earnings of $0.89 per share when it actually produced earnings of $1.58, delivering a surprise of +77.53%. Over the last four quarters, the company has beaten consensus EPS estimates four times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. AnaptysBio doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Among the stocks in the Zacks Medical - Biomedical and Genetics industry, Illumina (ILMN), is soon expected to post earnings of $1.05 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of +8.3%. This quarter's revenue is expected to be $1.08 billion, up 3.6% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Illumina has been revised 1.5% up to the current level. Nevertheless, the company now has an Earnings ESP of -0.79%, reflecting a lower Most Accurate Estimate. When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Illumina will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AnaptysBio, Inc. (ANAB) : Free Stock Analysis Report Illumina, Inc. (ILMN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

AnaptysBio, Inc. (ANAB) came out with quarterly earnings of $1.58 per share, beating the Zacks Consensus Estimate of $0.89 per share. This compares to a loss of $0.72 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +78.53%. A quarter ago, it was expected that this company would post a loss of $1.06 per share when it actually produced earnings of $0.52, delivering a surprise of +149.06%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. AnaptysBio, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $108.25 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 28.47%. This compares to year-ago revenues of $43.11 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. AnaptysBio shares have added about 13.3% since the beginning of the year versus the S&P 500's gain of 0.5%. While AnaptysBio has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for AnaptysBio was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$1.10 on $29.16 million in revenues for the coming quarter and -$4.34 on $151.33 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the bottom 45% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, MeiraGTx Holdings PLC (MGTX), is yet to report results for the quarter ended December 2025. This company is expected to post quarterly loss of $0.60 per share in its upcoming report, which represents a year-over-year change of -20%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. MeiraGTx Holdings PLC's revenues are expected to be $2.41 million, down 88.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AnaptysBio, Inc. (ANAB) : Free Stock Analysis Report MeiraGTx Holdings PLC (MGTX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Spin-off of biopharma operations into a public company to be called “First Tracks Biotherapeutics” on track for Q2 2026, potentially as early as late-April Phase 1b enrollment ongoing in celiac disease and trial cohort initiated in eosinophilic esophagitis for ANB033, a CD122 antagonist GSK announced strong commercial performance for Jemperli, growing >13% quarter-over-quarter to $343 million in Q4 2025, implying a ~$1.4 billion annualized run rate Expect to achieve >$390 million in annualized Jemperli royalties payable to Anaptys at GSK’s peak sales guidance of >$2.7 billion as early as 2029 Year-end 2025 cash and investments of ~$311 million SAN DIEGO, March 03, 2026 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (Nasdaq: ANAB), a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics, today provided an update on the potential spin-off of its biopharma operations and reported financial results for the fourth quarter and year ended Dec. 31, 2025. “We are approaching a defining inflection point for Anaptys, as we plan to spin-off in Q2 2026 our wholly owned biopharma portfolio into a public company, to be called First Tracks Biotherapeutics, to unlock and amplify value for investors across two distinct sets of assets,” said Daniel Faga, president and chief executive officer of Anaptys. “In our royalty portfolio, Jemperli exited Q4 2025 on a ~$1.4 billion annualized run rate, reinforcing GSK’s peak sales guidance of far more than $2.7 billion2 in monotherapy indications. At the same time, our biopharma portfolio is advancing multiple attractive, high-potential assets, including ANB033, which has pipeline-in-a-product potential, initially in a Phase 1b trial for both celiac disease and eosinophilic esophagitis.” INTENT TO SEPARATE BUSINESS Intention to separate biopharma operations from substantial royalty assets on track for Q2 2026, potentially as early as late-April Designed to unlock potential value by creating two independent, publicly traded companies with different business objectives and opportunities The royalty management company will initially retain the name AnaptysBio (Nasdaq: ANAB) and will manage the financial collaborations from Jemperli with GSK and imsidolimab with Vanda, with a focus on protecting and returning their value to shareholders While specific decisions regarding board composition, leadership and financial operations will be disclosed at a later time, Daniel Faga is anticipated to be the initial CEO First Tracks Biotherapeutics, Inc. (Nasdaq: TRAX) (formerly referred to as Biopharma Co), will be a public company focused on the development and potential commercialization of innovative immunology therapeutics for autoimmune and inflammatory diseases, including ANB033, rosnilimab and ANB101 Form 10 registration statement has been publicly filed in connection with the planned spin-off Initial Board of Directors for First Tracks Biotherapeutics is expected to include certain current members of Anaptys’ Board: Daniel Faga, Dennis Fenton, Ph.D., John Orwin (Chairman), John Schmid, Magda Marquet, Ph.D., Rita Jain, M.D., and Tony Ware, M.D. Initial executive leadership team for First Tracks Biotherapeutics will include Daniel Faga, CEO, Paul Lizzul, CMO and Ben Stone, CBO. Additional executives will be disclosed at a later time. Upon completion of the spin-off, First Tracks Biotherapeutics will launch with adequate capital to fund operations through significant potential product milestones AnaptysBio (formerly referred to as “Royalty Management Co”) GSK Jemperli Financial Collaboration GSK announced strong commercial performance for Jemperli ($343 million/£261 million in Q4 2025 sales; $1.128 billion/£861 million in YTD 2025 sales) with >13% USD and GBP quarter-over-quarter growth1 Implies a ~$1.4 billion annualized run rate In Dec. 2025, Anaptys received a one-time $75 million commercial sales milestone from GSK when Jemperli achieved $1 billion in worldwide net sales in Nov. 2025 Anaptys expects to achieve >$390 million in annualized Jemperli royalties payable to Anaptys at GSK’s peak sales guidance of >$2.7 billion2 as early as 2029 Anaptys estimates Sagard will have accrued ~$250 million in royalties and sales milestones through year-end 2025 and anticipates full paydown of $600 million non-recourse debt monetization by the end of Q2 20273 Substantial GSK investment in additional monotherapy and potential combination trials for Jemperli, including: AZUR-1 – pivotal Phase 2 – dostarlimab monotherapy in untreated stage II/III dMMR/MSI-H locally advanced rectal cancer Top-line data expected in 2026; U.S. FDA Breakthrough Therapy Designation Received an FDA Commissioner’s National Priority Voucher (CNPV) in Nov. 2025 allowing for only a one to two-month BLA review timeline for US FDA approval AZUR-2 – pivotal Phase 3 – dostarlimab versus standard of care in untreated TN40 or stage III dMMR/ MSI-H resectable colon cancer Top-line data expected in 2028 AZUR-4 – Phase 2 – dostarlimab plus chemotherapy versus standard of care (chemotherapy) in untreated stage III MMRp/MSS resectable colon cancer Top-line data expected in Q4 2026 JADE – pivotal Phase 3 – dostarlimab monotherapy versus placebo in locally advanced unresected head and neck squamous cell carcinoma (PD-L1 hiPghD-L1 CPS≥1) post chemoradiation Top-line data expected in 2028 Vanda Imsidolimab Financial Collaboration FDA accepted the BLA filing for imsidolimab in generalized pustular psoriasis (GPP) in Feb. 2026 with a target action date of Dec. 12, 2026 First Tracks Biotherapeutics (formerly referred to as “Biopharma Co”) ANB033 (CD122 antagonist) Phase 1b trial in celiac disease ongoing 60-patient trial assessing one dose level of subcutaneously administered ANB033 vs. placebo (randomized 1:1) across two different cohorts Cohort 1 (n=30) is a gluten-challenge study to assess the prevention of mucosal damage Patients enrolled have a Vh:Cd ratio of >2.0 are treated with ANB033 or placebo for 4 weeks, and after are administered a daily 6-gram gluten challenge at Week 4 for 14 days, and are assessed at Week 6 via biopsy Cohort 2 (n=30) is a study to assess the possibility of mucosal healing in the likely commercial population Patients enrolled have a Vh:Cd ratio of <2.0 are treated with ANB033 or placebo for 4 weeks and are assed at Week 12 via biopsy Top-line Phase 1b data for both cohorts anticipated in Q4 2026 Phase 1b trial in eosinophilic esophagitis initiated in Q1 2026 50-patient cohort assessing one dose level of subcutaneously administered ANB033 vs. placebo (randomized 1:1) Top-line Phase 1b data anticipated in 2027 Rosnilimab (Pathogenic T Cell Depleter) Presented Phase 2b data for rosnilimab, a pathogenic T cell depleter, in rheumatoid arthritis as a late-breaking oral presentation at American College of Rheumatology (ACR) Convergence 2025 Presentation available on the Anaptys website here Anticipate providing an update on advancement of rosnilimab in RA, which would be funded by strategic or other outside sources of capital, in Q2 2026 ANB101 (BDCA2 modulator) Phase 1a trial in healthy volunteers ongoing To date, ANB101’s preclinical and Phase 1a data have suggested it is a more potent antibody with longer half-life resulting in deeper and more durable PD effect of pDC depletion vs. Biogen’s litifilimab, a competing BDCA2 modulator FINANCIAL UPDATES Cash Position and Stock Repurchase Program Cash and investments of $311.6 million as of Dec. 31, 2025 Company has repurchased a total of 3,444,079 shares of common stock (11.2% shares outstanding) with $68.6 million as of Dec. 31, 2025, from its $175.0 million Stock Repurchase Program, which expires March 31, 2026 Fourth Quarter and Full Year 2025 Financial Results Cash, cash equivalents and investments totaled $311.6 million as of Dec. 31, 2025, compared to $420.8 million as of Dec. 31, 2024, for a decrease of $109.2 million due primarily to $130.6 million used for operating activities and $68.6 million in shares repurchased offset by $75.0 million received from GSK for Jemperli total sales for 2025 exceeding $1.0 billion and $15.0 million received from Vanda Pharmaceuticals for the license of imsidolimab. Collaboration revenue was $108.2 million and $234.6 million for the three and twelve months ended Dec. 31, 2025, compared to $43.1 million and $91.3 million for the three and twelve months ended Dec. 31, 2024. The increase was due primarily to Jemperli total sales for 2025 exceeding $1.0 billion which earned one-time $50 million and $75 million commercial sales milestones under our license agreement with GSK, Jemperli royalties increased 89% from $17.3 million to $32.7 million and 103% from $47.4 million to $96.0 million for the three and twelve months ended Dec. 31, 2025, and $9.7 million in revenue recognized for the Vanda license agreement. Research and development expenses were $25.6 million and $136.0 million for the three and twelve months ended Dec. 31, 2025, compared to $42.6 million and $163.8 million for the three and twelve months ended Dec. 31, 2024. The decrease for the three and twelve months ended Dec. 31, 2025, was primarily due to decreased development costs for ANB032, rosnilimab, and imsidolimab, offset by increased costs relating to the Phase 1 trials for ANB033 and ANB101. The R&D non-cash, stock-based compensation expense was $3.8 million and $17.1 million for the three and twelve months ended Dec. 31, 2025, as compared to $3.9 million and $14.8 million in the same period in 2024. General and administrative expenses were $15.8 million and $50.7 million for the three and twelve months ended Dec. 31, 2025, compared to $10.2 million and $42.4 million for the three and twelve months ended Dec. 31, 2024. The increase was due primarily to legal costs including the separation of the company and transaction costs associated with the Vanda Pharmaceuticals license agreement. The G&A non-cash, stock-based compensation expense was $4.7 million and $18.9 million for the three and twelve months ended Dec. 31, 2025, as compared to $4.3 million and $19.2 million in the same period in 2024. Net income was $49.6 million for the three months ended Dec. 31, 2025, or a net income per share of $1.79 and a net loss of $13.2 million for the twelve months ended Dec. 31, 2025, or a net loss per share of $0.46, compared to a net loss of $21.8 million and $145.2 million for the three and twelve months ended Dec. 31, 2024, or a net loss per share of $0.72 and $5.12. About Anaptys Anaptys is a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics for autoimmune and inflammatory diseases. The company’s pipeline includes rosnilimab, a pathogenic T cell depleter, which has completed a Phase 2b trial for rheumatoid arthritis; ANB033, a CD122 antagonist, in a Phase 1b trial for celiac disease and eosinophilic esophagitis; and ANB101, a BDCA2 modulator, in a Phase 1a trial. Anaptys has also discovered and out-licensed in financial collaborations multiple therapeutic antibodies, including a PD-1 antagonist (Jemperli (dostarlimab-gxly)) to GSK and an IL-36R antagonist (imsidolimab) to Vanda Pharmaceuticals. To learn more, visit www.AnaptysBio.com or follow us on LinkedIn. Anaptys recently announced the intent to separate its biopharma operations from its substantial royalty assets by year-end 2026, enabling investors to align their investment philosophies and portfolio allocation with the strategic opportunities and financial objectives of each company. Learn more here. 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 timing of the release of data from the Company’s clinical trials, including initial data from ANB033's Phase 1b clinical trial in celiac disease and initial data from ANB033's Phase 1b clinical trial in eosinophilic esophagitis; expectations regarding the structure, infrastructure, timing and taxation of the proposed separation of companies; timing of paydown of financial obligations to Sagard; whether any partnership with rosnilimab will take place; the potential to receive any royalties or milestone payments from the Vanda Pharmaceuticals license agreement; the potential to receive any additional milestones or royalties from the GSK collaboration and timing therefor; and the projected cash runway for First Tracks Biotherapeutics. 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, the ability to effect the separation of companies as described herein 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: Nick Montemarano Executive Director, Investor Relations 858.732.0178 [email protected]

Announced intent to separate biopharma operations from substantial royalty assets by YE 2026 Phase 2 top-line data through Week 12 for rosnilimab, a pathogenic T cell depleter, in ulcerative colitis on track for Nov./Dec. 2025 Phase 2b data for rosnilimab in rheumatoid arthritis featured as late-breaking oral presentation at ACR Convergence 2025 Phase 1b initiated in celiac disease for ANB033, a CD122 antagonist; top-line Phase 1b data anticipated in Q4 2026 GSK announced strong commercial performance for Jemperli, growing >16% quarter-over-quarter to $303 million in Q3 2025 and $785 million YTD 2025 Anaptys anticipates accruing a one-time $75 million commercial sales milestone in Q4 2025 from GSK once Jemperli achieves $1 billion in worldwide net sales >$390 million in annualized Jemperli royalties payable to Anaptys at GSK’s peak sales guidance of >$2.7 billion, which Anaptys expects to be achieved before 2031 SAN DIEGO, Nov. 04, 2025 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (Nasdaq: ANAB), a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics, today reported financial results for the third quarter ended September 30, 2025, and provided a business update. “Our intent to separate our wholly owned biopharma programs from our royalty assets provides investors with the opportunity to realize and enhance the potential value of two distinct sets of assets. Jemperli sales grew to $785 million YTD with GSK indicating dMMR endometrial market share is now ~5% greater than Keytruda1, reflecting Jemperli’s differentiated overall survival data and supporting GSK’s peak sales guidance of far more than $2.7 billion2 in monotherapy indications,” said Daniel Faga, president and chief executive officer of Anaptys. “Our biopharma portfolio is strategically positioned with multiple attractive, high-potential assets, including rosnilimab, ANB033 and ANB101. Rosnilimab’s transformational profile was highlighted in a late-breaking presentation of Phase 2b data in RA at ACR Convergence 2025 and we anticipate reporting top-line Phase 2 data through Week 12 in ulcerative colitis in November or December.” INTENT TO SEPARATE BUSINESS Announced intent to separate biopharma operations from substantial royalty assets by YE 2026 Designed to unlock potential value by creating two independent, publicly traded companies with different business objectives and opportunities The royalty management company will manage royalties and milestone payments from financial collaborations, including Jemperli with GSK and imsidolimab with Vanda, with a focus on protecting and returning their value to shareholders The biopharma operations company will focus on development and potential commercialization of innovative immunology therapeutics for autoimmune and inflammatory diseases, including rosnilimab, ANB033 and ANB101 ROYALTY MANAGEMENT CO GSK Jemperli Financial Collaboration GSK announced strong commercial performance for Jemperli ($303 million/£230 million in Q3 2025 sales; $785 million/£600 million in YTD 2025 sales) with >16% USD and >17% GBP quarter-over-quarter growth1 In Q4 2025, Anaptys anticipates accruing a one-time $75 million commercial sales milestone from GSK once Jemperli achieves $1 billion in worldwide net sales >$390 million in annualized Jemperli royalties payable to Anaptys at GSK’s peak sales guidance of >$2.7 billion2, which Anaptys expects to be achieved before 2031 Estimate Sagard will have accrued ~$250 million in royalties and sales milestones through year-end 2025 and now anticipate full paydown of $600 million non-recourse debt monetization between Q2 2027 and Q2 20283 Substantial GSK investment in additional monotherapy and potential combination trials for Jemperli including – AZUR-1 – pivotal Phase 2 – dostarlimab monotherapy in untreated stage II/III dMMR/MSI-H locally advanced rectal cancer Top-line data expected in H2 2026; U.S. FDA Breakthrough Therapy Designation AZUR-2 – pivotal Phase 3 – dostarlimab versus standard of care in untreated TN40 or stage III dMMR/ MSI-H resectable colon cancer AZUR-4 – Phase 2 – dostarlimab plus chemotherapy versus standard of care (chemotherapy) in untreated stage III MMRp/MSS resectable colon cancer JADE – pivotal Phase 3 – dostarlimab monotherapy versus placebo in locally advanced unresected head and neck squamous cell carcinoma (PD-L1 high) post chemoradiation Vanda Imsidolimab Financial Collaboration Vanda anticipates FDA BLA submission for imsidolimab in generalized pustular psoriasis (GPP) in Q4 2025 BIOPHARMA CO Rosnilimab (Pathogenic T Cell Depleter) Presented Phase 2b data for rosnilimab, a pathogenic T cell depleter, in rheumatoid arthritis as a late-breaking oral presentation at American College of Rheumatology (ACR) Convergence 2025 In both the overall and b/tsDMARD-experienced populations, response rates across multiple higher-order endpoints, including ACR50, ACR70, CDAI LDA, CDAI remission, and patient-reported outcomes increased between Week 12 and Week 28 and are maintained off-drug for at least 3-months through Week 38 Regardless of prior therapy, including JAKs, similar responses were observed on more stringent endpoints, such as ACR50, ACR70, CDAI LDA and CDAI remission Safety data through Week 38 demonstrate rosnilimab was well-tolerated, including no malignancies and no deaths The presentation is available for download on the Anaptys website here Top-line data through Week 12 of global Phase 2 trial in moderate-to-severe UC (N=136, ~50% advanced therapy experienced) on track for November/December 2025 Assessing Q2W and Q4W dose levels of subcutaneously administered rosnilimab vs. placebo (randomized 1:1:1) Will report data on primary statistical analysis at Week 12 on well-established endpoints, including the primary endpoint of change from baseline in modified Mayo Score (mMS) and key secondary endpoints, such as clinical response and remission on mMS All patients in all three study arms treat-through to Week 24 and remain blinded to treatment arm. Placebo-treated patients who achieved clinical response on partial mMS (pmMS) at Week 12 remain on placebo, while placebo-treated patients who are non-responders are crossed over to the high dose Q2W rosnilimab treatment arm Patients who are in clinical response on pmMS at Week 24 are eligible for an additional 26-week (50 weeks of total treatment) blinded treatment extension period (TEP) Blinded surveillance data to date suggest a favorable safety and tolerability profile consistent with prior rosnilimab trials ANB033 (CD122 antagonist) Hosted virtual investor event on ANB033 including preclinical and Phase 1a data Webcast and presentation are available for viewing on the Anaptys website here Phase 1b cohort in celiac initiated Top-line Phase 1b data anticipated in Q4 2026 Plan to initiate an additional Phase 1b trial in a second inflammatory disease in 2026 Exploring eosinophilic esophagitis as a potential indication ANB101 (BDCA2 modulator) Phase 1 trial ongoing in healthy volunteers FINANCIAL UPDATES Stock Repurchase Program and Cash Runway Company has repurchased a total of 3,344,064 shares of common stock (10.9% shares outstanding) with $65.2 million as of Sept. 30, 2025, from its $75.0 million Stock Repurchase Program Cash and investments of $256.7 million as of Sept. 30, 2025 Anticipate ending 2025 with approximately $300 million, including an anticipated accrual of a one-time $75 million commercial sales milestone in Q4 2025 from GSK once Jemperli achieves $1 billion in worldwide net sales Upon completion of the separation, Biopharma Co will launch with adequate capital to fund operations for at least two years through significant potential corporate milestones Third Quarter 2025 Financial Results Cash, cash equivalents and investments totaled $256.7 million as of September 30, 2025, compared to $420.8 million as of December 31, 2024, for a decrease of $164.1 million due primarily to $113.9 million used for operating activities and $65.2 million in shares repurchased offset by $15 million upfront payment received from Vanda Pharmaceuticals for the license of imsidolimab. Collaboration revenue was $76.3 million and $126.4 million for the three and nine months ended September 30, 2025, compared to $30.0 million and $48.2 million for the three and nine months ended September 30, 2024. The increase was due primarily to Jemperli total sales for 2025 exceeding $750 million which earned a $50 million commercial sales milestone in Q3 under the license agreement. Jemperli royalties increased 80% from $13.8 million to $24.9 million and 110% from $30.1 million to $63.2 million for the three and nine months ended September 30, 2025, and $9.7 million in revenue recognized for the Vanda license agreement. Research and development expenses were $31.4 million and $110.4 million for the three and nine months ended September 30, 2025, compared to $42.2 million and $121.3 million for the three and nine months ended September 30, 2024. The decrease for the three and nine months ended September 30, 2025, was primarily due to lower development costs for ANB032 and imsidolimab, offset by higher costs relating to the Phase 1 trials for ANB033 and ANB101. The R&D non-cash, stock-based compensation expense was $4.5 million and $13.3 million for the three and nine months ended September 30, 2025, as compared to $4.0 million and $10.9 million in the same period in 2024. General and administrative expenses were $10.2 million and $34.9 million for the three and nine months ended September 30, 2025, compared to $10.6 million and $32.2 million for the three and nine months ended September 30, 2024. The increase was due primarily to transaction costs associated with the Vanda Pharmaceuticals license agreement. The G&A non-cash, stock-based compensation expense was $4.7 million and $14.2 million for the three and nine months ended September 30, 2025, as compared to $4.2 million and $14.9 million in the same period in 2024. Net income was $15.1 million for the three months ended September 30, 2025, or a net income per share of $0.54 and a net loss of $62.8 million for the nine months ended September 30, 2025, or a net loss per share of $2.16, compared to a net loss of $32.9 million and $123.4 million for the three and nine months ended September 30, 2024, or a net loss per share of $1.14 and $4.46. About Anaptys Anaptys is a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics for autoimmune and inflammatory diseases. Its lead program, rosnilimab, a pathogenic T cell depleter, completed a Phase 2b trial for the treatment of rheumatoid arthritis and is in a Phase 2 trial for the treatment of ulcerative colitis. The company’s pipeline also includes ANB033, a CD122 antagonist, in a Phase 1b trial for celiac disease with plans to expand development into an additional indication. Additionally, ANB101, a BDCA2 modulator, is in a Phase 1a trial. Anaptys also has discovered and out-licensed in financial collaborations multiple therapeutic antibodies, including a PD-1 antagonist (Jemperli (dostarlimab-gxly)) to GSK and an IL-36R antagonist (imsidolimab) to Vanda Pharmaceuticals. To learn more, visit www.AnaptysBio.com or follow us on LinkedIn. Anaptys recently announced the intent to separate its biopharma operations from its substantial royalty assets by year-end 2026, enabling investors to align their investment philosophies and portfolio allocation with the strategic opportunities and financial objectives of each company. Learn more here. 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 timing of the release of data from the Company’s clinical trials, including rosnilimab’s top-line Phase 2 clinical trial data in ulcerative colitis and ANB033’s phase 1b cohort in celiac disease; whether positive clinical trial results in rosnilimab’s Phase 2b clinical trial in rheumatoid arthritis increases the likelihood of getting positive results from rosnilimab’s Phase 2 clinical trial in ulcerative colitis; expectations regarding the structure, infrastructure, timing and taxation of the proposed separation of companies; timing of paydown of financial obligations to Sagard; timing of initiation of Phase 1b clinical trial in second indication with ANB033; the potential to receive any royalties or milestone payments from the Vanda Pharmaceuticals license agreement; the potential to receive any additional milestones and royalties from the GSK collaboration and the timing therefor; and the projected cash runway for Biopharma Co. 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: Nick Montemarano Executive Director, Investor Relations 858.732.0178 [email protected] _______________________________________

AnaptysBio, Inc. (ANAB) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of a loss of $1.06 per share. This compares to a loss of $1.14 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +149.06%. A quarter ago, it was expected that this company would post a loss of $1.5 per share when it actually produced a loss of $1.34, delivering a surprise of +10.67%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. AnaptysBio, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $76.32 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 145.36%. This compares to year-ago revenues of $30.02 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. AnaptysBio shares have added about 172.2% since the beginning of the year versus the S&P 500's gain of 16.5%. While AnaptysBio has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for AnaptysBio was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.24 on $82.95 million in revenues for the coming quarter and -$3.57 on $146.17 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Ovid Therapeutics (OVID), another stock in the same industry, has yet to report results for the quarter ended September 2025. This company is expected to post quarterly loss of $0.15 per share in its upcoming report, which represents a year-over-year change of +25%. The consensus EPS estimate for the quarter has been revised 5.3% higher over the last 30 days to the current level. Ovid Therapeutics' revenues are expected to be $0.34 million, up 100% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AnaptysBio, Inc. (ANAB) : Free Stock Analysis Report Ovid Therapeutics (OVID) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

AnaptysBio (ANAB) just shared fresh Phase 2b results for rosnilimab in rheumatoid arthritis, showing that the drug’s benefits lasted well beyond initial treatment and deepened across 28 weeks, regardless of previous therapies. See our latest analysis for AnaptysBio. Momentum around AnaptysBio has been unmistakable, with a 14.4% jump in share price over the past month and an impressive 48% gain in the last three months. This performance has been fueled by optimism following their latest rosnilimab data and a series of analyst upgrades. Looking at the broader picture, AnaptysBio’s share price return is up more than 170% year-to-date, while the total shareholder return over the past year stands at nearly 69%. These figures suggest a sustained shift in investor sentiment that extends beyond a short-term rally. If the strength behind AnaptysBio’s recent run has you thinking about what else is on the move in biotech and healthcare, you’ll want to see the latest from See the full list for free. With the stock now trading near recent highs and analyst price targets climbing, the key question becomes whether AnaptysBio remains undervalued or if the market has already accounted for future growth and clinical success. AnaptysBio currently trades at a price-to-sales ratio of 8.3x, which sits just below the average of its peer group and could indicate modest undervaluation relative to similar biotech firms. With the last close at $36.58, the market may be pricing in expectations for growth, but is it enough? The price-to-sales ratio compares the company’s market value to its annual sales. This is a favored metric for unprofitable or fast-growing biotech companies where earnings are negative. For a company like AnaptysBio, this metric reflects how much investors are willing to pay for each dollar of revenue. This is crucial when current profits are absent but future growth is expected. When compared to the U.S. Biotechs industry average price-to-sales ratio of 11.2x, AnaptysBio appears attractively priced. However, it is still considered expensive against our estimated Fair Price-to-Sales Ratio of 1.5x. This suggests the market may adjust its valuation as more clinical and revenue milestones are achieved. Explore the SWS fair ratio for AnaptysBio Result: Price-to-Sales of 8.3x (ABOUT RIGHT) However, weak net income growth and a significant discount to analyst targets could quickly sour sentiment if revenues or clinical progress encounter setbacks. Find out about the key risks to this AnaptysBio narrative. If you want to dive deeper or see the numbers from another angle, you can shape your own interpretation using our data. Build a custom narrative in just a few minutes. Do it your way A great starting point for your AnaptysBio research is our analysis highlighting 1 key reward and 4 important warning signs that could impact your investment decision. Opportunity never waits. Set yourself up for success by checking out unique ways to invest in tomorrow's biggest trends using the Simply Wall Street Screener. Unlock potential high-yield income by getting straight to these 22 dividend stocks with yields > 3%, which delivers attractive returns above 3% and reliable cash flow. Find out which innovators are pushing the boundaries with these 26 AI penny stocks, making breakthroughs in automation, data science, and transformative technology. Capitalize on growth with these 832 undervalued stocks based on cash flows, offering strong upside based on robust cash flows and favorable valuations right now. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ANAB. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]