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ANAB-News
ANAB-Events
AnaptysBio Shares Drop 10.8% to $55.76
AnaptysBio is down -10.8%, or -$6.75 to $55.76.
Anaptys Reports Q1 Revenue of $25.56M, Exceeding Expectations
Reports Q1 revenue $25.56M, consensus $18.87M. "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."
AnaptysBio Appoints Christopher Murphy as CFO
AnaptysBio announced the appointment of Christopher Murphy as CFO and Owen Hughes as a member of its board of directors. Murphy previously served as CFO and CBO of Third Harmonic Bio.
GSK Subsidiary TESARO Wins Court Dismissal Against AnaptysBio
GSK (GSK) subsidiary, TESARO, confirms that the Delaware Chancery Court has granted the motion to dismiss filed by AnaptysBio (ANAB) against TESARO's claim for anticipatory breach. The court's ruling does not address the merits of the principal contractual dispute between the parties and has no impact on TESARO's remaining claim against AnaptysBio for declaratory judgment. GSK and TESARO are firmly of the view that these allegations are entirely without merit and remain focused on pursuing that claim at trial. TESARO initiated this litigation following allegations made by AnaptysBio that TESARO has not fulfilled certain requirements of the license agreement entered in March 2014 between the parties and that AnaptysBio intends to revoke TESARO's licence for dostarlimab.
AnaptysBio Court Dismisses Tesaro's Breach of Contract Claim
AnaptysBio (ANAB) announced that the Delaware Chancery Court has dismissed Tesaro's anticipatory breach of contract claim against Anaptys. The ruling agrees with Anaptys' position that it has never repudiated the collaboration and exclusive license agreement with Tesaro, a subsidiary of GSK (GSK), governing the development and commercialization of Jemperli. As stated in Anaptys' original filing, the company's motion explained "why, as a matter of law, Anaptys has never repudiated the Collaboration Agreement and how Anaptys has only sought to vindicate its contract rights." The court's decision confirms that Tesaro's anticipatory breach of contract claim was insufficiently pleaded and rejects Tesaro's request for any royalty reduction. The trial is scheduled for July 14-17.
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