AnaptysBio (ANAB) H.C. Wainwright 28th Annual Global Investment Conference summary

Strategic transformation and company overview

• Completed spin-out of development pipeline into First Tracks, leaving a virtual structure focused on two royalty assets.

• Operating footprint reduced to under 10 FTEs and less than $10 million in annual operating expenses.

• Sole focus is on maximizing and returning value to shareholders through royalty streams.

JEMPERLI royalty stream and growth outlook

• JEMPERLI royalties are tiered: 8% up to $1B, 12% for $1B–$1.5B, 20% for $1.5B–$2.5B, and 25% above $2.5B in annual sales.

• JEMPERLI global net sales reached $644 million in H1 2026, up 34% year-over-year, with strong growth in endometrial cancer.

• GSK projects peak sales for JEMPERLI monotherapy in endometrial and rectal cancer to exceed $2.7 billion.

• Additional growth expected from new indications, including rectal, colon, and potentially head and neck cancers.

Colorectal cancer opportunity and clinical milestones

• AZUR-1 phase II study in rectal cancer met its primary objective; PDUFA date set for February 2027.

• GSK sees over $9 billion global opportunity in colorectal cancer, with more than 220,000 eligible patients in key markets.

• Additional AZUR-2 and AZUR-4 studies target broader colon cancer populations.