AnaptysBio Inc

AnaptysBio, Inc. is a clinical-stage biotechnology company focused on immunology therapeutics for autoimmune and inflammatory diseases in the United States. Its product candidates include Rosnilimab, a selective pathogenic T cell depleter that completed a Phase 2b trial for moderate-to-severe rheumatoid arthritis; ANB033, a CD122 antagonist in a Phase 1b trial for celiac disease and eosinophilic esophagitis; ANB101, a BDCA2 modulator antibody in a Phase 1a trial targeting plasmacytoid dendritic cells; dostarlimab, a PD-1 antagonist for solid tumors; and Imsidolimab, an interleukin-36 receptor inhibitor in Phase 3 for generalized pustular psoriasis. The company also develops antibody programs through collaborations with GSK and Vanda. Formerly Anaptys Biosciences, Inc., it changed its name to AnaptysBio, Inc. in July 2006, was incorporated in 2005, and is based in San Diego, California.

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Laughing Water Capital Adds AnaptysBio as New Position, Sees Potential 50-80% Upside

Laughing Water Capital added AnaptysBio as a new position in the second quarter of 2026, citing a special situation that could resolve quickly. Following a taxable spinoff of its developmental drug assets, AnaptysBio is now an asset-light royalty company collecting payments on sales of Jemperli, a cancer drug commercialized by GSK. The firm believes it purchased shares at a discount to the present value of future royalties, but sees additional upside from a trial set for July 14-17 in which AnaptysBio accuses GSK of violating their commercial agreement. If AnaptysBio prevails, it could recover the entirety of Jemperli, potentially pushing shares to nearly $300 versus an average purchase price below $60. A more likely scenario, according to Laughing Water Capital, is a settlement or outright acquisition by GSK, which could yield 50 to over 80 percent upside.

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