AnaptysBio announces portfolio update, discloses $575M in cash to end 2022

AnaptysBio "announced a portfolio update including initiating development of its wholly owned best-in-class immune cell modulating antibodies in autoimmune and inflammatory diseases with large and significantly underserved patient populations. With cash, cash equivalents and investments greater than $575 million as of December 31, 2022, the company 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 company states that it is: 1) Advancing rosnilimab, its PD-1 agonist, into a global Phase 2b trial to treat rheumatoid arthritis with study initiation in Q3 2023; 2) Advancing ANB032, its BTLA agonist, into a global Phase 2b trial to treat atopic dermatitis with study initiation in Q2 2023; 3) Advancing rosnilimab into a second Phase 2 trial, in an indication to be announced, with study initiation anticipated by year-end 2023; 4) Blinded interim review of alopecia areata Phase 2a data demonstrated rosnilimab "proof of mechanism" with robust reductions in peripheral PD-1 high and PD-1+ T cells and suggests administration was generally safe and well tolerated; However, absolute SALT scores were not supportive of the target product profile and further development in alopecia areata will not be pursued."