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AnaptysBio Q1 collaboration revenue drops on lower milestones

By Reuters News


Overview

  • US biotech royalty manager's fiscal Q1 collaboration revenue fell sharply yr/yr due to prior milestone

  • Net income from continuing operations dropped significantly from the prior-year quarter

  • Company's G&A expenses rose, driven by legal costs for GSK and Tesaro litigation


Outlook

  • Company continues to expect annualized Jemperli royalties of >$390 mln as early as 2029

  • Regulatory submission for Jemperli in Japan expected in H1 2027, Europe and China in H2 2027

  • FDA target action date for Quimilza in generalized pustular psoriasis set for Dec. 12, 2026


Result Drivers

  • JEMPERLI ROYALTIES - Co said 11% quarter-over-quarter increase in Jemperli royalties partially offset lower collaboration revenue

  • LEGAL COSTS - Co said G&A expenses rose mainly due to $4.8 mln in legal costs for GSK and Tesaro litigation

  • R&D ADJUSTMENTS - Negative R&D expenses reflect adjustments from closeout of clinical contracts after business separation


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Collaboration Revenue

$30.27 mln

Q3 Net Income

$3.88 mln

Q3 Income From Operations

$19.91 mln

Q3 Operating Expenses

$10.37 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for AnaptysBio, Inc. is $81.00, about 66.1% above its November 11 closing price of $48.77

  • The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 63 three months ago


Reuters Recommended Reads

  • Nov 10 - Liquidia Q3 loss widens on litigation charge, negating Yutrepia demand

  • Nov 12 - Prime Medicine Q3 loss narrows as expenses decline

  • Nov 12 - Rocket Pharmaceuticals Q3 net loss narrows as R&D costs fall


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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