AnaptysBio, Inc. (ANAB) Stock

AnaptysBio, Inc. (ANAB) is a Healthcare stock trading at $57.73 (as of 2026-08-21), with a market capitalization of $1.68B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

AnaptysBio, Inc. is a clinical-stage biotechnology company developing therapeutic antibody product candidates for inflammation and immuno-oncology. Its programs include Imsidolimab targeting the IL-36 receptor, rosnilimab as an anti–PD-1 agonist strategy, and ANB032 targeting BTLA, which are advanced through preclinical and clinical development, including under collaborations and licenses.

Understand AnaptysBio, Inc.: how it makes money

AnaptysBio develops antibody therapies for inflammation and immuno-oncology, including Imsidolimab and Rosnilimab, and it makes money through collaboration revenue while future product approvals and commercialization would drive larger sales.

Because AnaptysBio is a clinical stage biotech with reported revenue of 0.0B, its profit model is primarily driven by whether its inflammation and immuno-oncology antibody programs generate clinical validation and attract or continue collaborations that produce collaboration revenue.

Business quality (Weak): Segment candidates (Jemperli Revenue 0.3B, Collaboration Revenue 0.03B) do not reconcile with reported total revenue of 0.0B for 2026-03-31, so no clean segment breakdown can be used from the provided data.

Bull case

Clinical signal in ulcerative colitis: In its Phase 2 ulcerative colitis setting, the Clinical Disease Activity Index low disease activity response rate at Week 14 is 69%.
Multiple antibody programs targeting distinct inflammation pathways: The pipeline includes Imsidolimab (inhibits IL-36R for dermatological inflammatory diseases), Rosnilimab (anti-PD-1 agonist program designed to augment PD-1 signaling), and ANB032 (anti-BTLA modulator for human inflammatory diseases associated with lymp).
Collaboration funding is part of the model: Provided data includes Collaboration Revenue as a measured contributor (0.03B), suggesting some reliance on partnerships alongside internal development.

Bear case

Heavy operating losses: The latest reported operating margin is -135.5, reflecting substantial costs relative to revenue.
No reported revenue in the latest quarter: Reported revenue is 0.0B for 2026-03-31, which increases dependence on continued financing and successful milestones.
Clinical development outcomes are uncertain: The company is developing therapeutic product candidates across inflammatory and immuno-oncology indications, so adverse trial outcomes or lack of efficacy could limit progress and future revenue.

Valuation — source: SEC EDGAR (first-party)
Price	$57.73
Market Cap	$1.68B
Price / Book	131.78
Price / Sales	11.06
FCF Yield	-9.9%
DCF Value (model)	$4.73
DCF Upside vs Price	-91.8%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$234.60M
Net Margin	-5.6%
Revenue Growth (YoY)	157.0%
EPS Growth (YoY)	-91.0%
FCF Growth (YoY)	-114.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	2.22 (grey)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	EcoR1 Capital, LLC ($437.03M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Daniel R. Faga
Employees	136
Country	US
IPO Date	2017-01-26

Related Companies (Pharmaceutical Products; 8 comparable drugmakers)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.