AnaptysBio Completes Spinoff of First Tracks Biotherapeutics; Shares Surge

MT Newswires Live

04/20

AnaptysBio (ANAB) said Monday that it has completed the spinoff of its biopharma operations business First Tracks Biotherapeutics.

Under the terms of the spinoff, Anaptys shareholders received one share of First Tracks for every share of Anaptys owned as of the close of business on April 6. First Tracks Bio common stock were set to begin trading Monday on the Nasdaq Global Select Market under the ticker symbol "TRAX."

The company said it will now exclusively manage its financial collaborations with GSK (GSK) and Vanda for cancer medicine Jemperli and generalized pustular psoriasis treatment imsidolimab, respectively.

Shares of AnaptysBio were up close to 8% in recent trading on Monday.

Price: 48.39, Change: +3.39, Percent Change: +7.53

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