AnaptysBio revenue falls 60.3% to $30.274 million in fiscal first quarter
Key Facts
AnaptysBio reported on November 12 that collaboration revenue was $30.274 million for the three months ended September 30, 2026, down a calculated approximately 60.3% from $76.320 million in the year-earlier period. The company describes the period as the first quarter of its fiscal 2027. The decline reflects, in the company’s explanation, the recognition of significant milestone revenue in the prior period and its absence this year, rather than a year-over-year decline in the company’s sales. By contrast, Jemperli royalties rose sequentially, while net income and earnings per share fell compared with the prior year. ANAB shares closed at $47.77 on the day results were announced, according to EL7 data.
The company said the decline in collaboration revenue was mainly due to the recording of $50 million in milestone revenue in the third quarter of 2025, compared with no comparable revenue in the current quarter. This was offset by an 11% sequential increase in Jemperli royalties, reflecting the different sources of revenue in the two periods. The company recorded $29.565 million in Jemperli royalties in the quarter ended September 30, 2026, up from $24.903 million a year earlier. By contrast, Zejula royalties fell to $699,000 from $1.360 million. The company said the royalty revenue recorded is non-cash under the royalty monetization agreements.
AnaptysBio’s net income was $3.876 million for the three months ended September 30, 2026, compared with $15.113 million in the year-earlier period. Diluted net income per share fell to $0.11 from $0.52. General and administrative expenses rose from $1.1 million to $11.6 million across the two periods. The company attributed the increase mainly to litigation costs with GSK and Tesaro, audit and tax expenses related to the transition year, and the allocation of expenses between AnaptysBio and First Tracks. These items show that the revenue decline coincided with a significant rise in the company’s expenses compared with the prior year.
For the royalty-generating drug, global Jemperli sales were $365 million in the three months ended September 30, 2026, up 20% year over year. Sales reached $1.0 billion in the nine months ended on the same date, up 29% year over year. AnaptysBio is entitled to Jemperli royalties based on tiers tied to annual net sales: 8% below $1 billion, 12% between $1 billion and $1.5 billion, 20% between $1.5 billion and $2.5 billion, and 25% above $2.5 billion. This structure puts the drug’s sales growth at the heart of the importance of royalties to the company. The U.S. Food and Drug Administration approved Jemperli on October 19 to treat adults with locally advanced MSI-H/dMMR rectal cancer.
Cash, cash equivalents and investments totaled $153.0 million on September 30, 2026, down from $164.1 million on June 30. The company said it expects its current resources to fund its operating plan for at least 12 months from the date the financial statements are issued. Jemperli rights remain the subject of litigation with GSK and Tesaro, with AnaptysBio seeking to recover them as damages. A post-trial hearing was held before the Delaware court on October 20, and the company expects a ruling in the fourth quarter of 2026 or the first quarter of 2027. Another upcoming catalyst is the U.S. Food and Drug Administration’s target action date for the Quimilza application to treat generalized pustular psoriasis, set for December 12, 2026.