AnaptysBio (ANAB) Q1 2027 earnings summary

Executive summary

• Q1 FY2027 continuing-operations net income was $3.9M, down from $56.3M YoY; prior-year results included a $50.0M GSK sales milestone.

• Collaboration revenue was $30.3M, primarily non-cash royalties on Jemperli and Zejula; Jemperli global sales rose 29% YoY to $1.0B for the first nine months of 2026.

• Cash, cash equivalents and investments totaled $153.0M; existing resources are expected to fund operations for at least 12 months from financial-statement issuance.

Financial highlights

• Collaboration revenue was $30.3M vs. $76.3M YoY; prior-year revenue included a $50.0M GSK milestone.

• Income from operations was $19.9M vs. $77.3M; continuing-operations net income was $3.9M vs. $56.3M YoY.

• G&A expense rose to $11.6M from $1.1M, including $4.8M of GSK/Tesaro litigation costs and $2.2M of recurring expenses.

• R&D expense was a credit of $1.3M vs. a credit of $2.0M YoY, primarily reflecting clinical-contract closeout adjustments.

• Cash, cash equivalents and investments totaled $153.0M at quarter-end, down $11.1M from June 30, primarily from cash used in operations, offset by option exercises.

Outlook and guidance

• Existing cash, cash equivalents and investments are expected to fund the current operating plan for at least 12 months from issuance; actual cash use may exceed estimates.

• Annualized Jemperli royalties payable are expected to exceed $390M as early as 2029, based on GSK peak monotherapy sales guidance above $2.7B.

• Quimilza’s FDA target action date is December 12, 2026; a GSK/Tesaro litigation decision is anticipated in calendar Q4 2026 or Q1 2027.

• G&A expenses are expected to decline as separation-related salaries, stock compensation, legal, audit, filing and compliance costs decrease; collaboration revenue may fluctuate with milestones and product sales.