AnaptysBio Approves First Tracks Spin-off with $145M Private Placement

AnaptysBio's Board of Directors has officially approved the spin-off of First Tracks Biotherapeutics, establishing it as an independent entity. In conjunction with the spin-off, First Tracks has secured $145 million in private placement commitments from a group of third-party investors. This substantial capital injection is intended to provide the necessary financial foundation for the new company's operations and strategic growth. The new entity is scheduled to begin trading on the Nasdaq Stock Market under the ticker symbol 'TRAX' starting April 20, 2026. This strategic move allows AnaptysBio to streamline its focus while enabling First Tracks to pursue its own specialized biotherapeutic objectives. Analysts view the successful funding and clear timeline as positive indicators for the parent company's restructuring efforts.

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