AnaptysBio’s Collaboration Revenue Falls to $30.3 Million in Fiscal First Quarter
Key Facts
AnaptysBio reported results on November 12, 2026, for its fiscal first quarter of 2027, the period ended September 30, posting collaboration revenue of $30.3 million. The company said revenue in the corresponding period of 2025 was $76.3 million. The decline, it said, reflected a high comparison base in the prior year, when it recorded revenue from a milestone payment. The company said Jemperli royalties rose 11% sequentially in the current period. The results put collaboration revenue and royalties at the center of the company’s performance in the quarter.
AnaptysBio attributed the year-over-year decline primarily to the $50 million in milestone payment revenue recorded in the third quarter of 2025. By contrast, Jemperli royalties rose from the previous quarter, according to the company’s statement. This means the comparison of collaboration revenue between the two periods was affected by a large payment in the comparison base, alongside royalty growth in the current quarter. General and administrative expenses from continuing operations were $11.6 million, compared with $1.1 million a year earlier. Current expenses included $4.8 million in legal costs related to the dispute with GSK and Tesaro.
Global Jemperli sales data showed growth over the same period in which AnaptysBio’s collaboration revenue declined. Sales totaled $365 million in the three months ended September 30, 2026, up 20% year over year. For the nine months ended on the same date, sales reached $1 billion, up 29% year over year. The company had announced on October 19 that the U.S. Food and Drug Administration approved Jemperli to treat adults with locally advanced stage II and III rectal cancer with MSI-H/dMMR. It said 68% of evaluable patients achieved a sustained complete response at 12 months, according to investigators’ assessments.
The company tied its Jemperli royalty outlook to the treatment’s sales trajectory at GSK. It said it could receive annual royalties exceeding $390 million as soon as 2029 if GSK’s peak sales forecast for the monotherapy exceeded $2.7 billion. AnaptysBio also expected Sagard to have accrued about $330 million in royalties and sales milestones through September 30, 2026. It added that repayment of about $270 million of the remaining non-recourse debt financing balance was expected in the second half of 2027. These figures link growth in the drug’s sales and royalties with the financing obligations reported by the company.
Upcoming milestones include a U.S. regulatory decision on another company treatment. The FDA set December 12, 2026, as its target date for a decision on Quimilza for generalized pustular psoriasis. In AnaptysBio’s dispute with GSK and Tesaro, a post-trial hearing was held before the Delaware court on October 20, 2026. The company said it expected a ruling in the fourth quarter of 2026 or the first quarter of 2027. ANAB shares also closed at $48.77 on November 11, 2026, according to EL7 data.
On regulatory developments outside the United States, the company expected to submit a Jemperli application in Japan during the first half of 2027. It said the expected submissions in Europe and China would come during the second half of the same year. It also expected a European regulatory decision in the second half of 2027. These dates place the expansion of the drug’s regulatory path among the developments following the quarterly results. The dates cited remain expectations reported by the company in its business update.