First Tracks Biotherapeutics Debuts on Nasdaq with $180M Cash and Two-Year Runway
First Tracks Biotherapeutics launched as an independent clinical-stage company on Nasdaq under TRAX with $180 million in cash and a two-year runway. Its pipeline includes three antibody programs: ANB033 in Phase 1b for celiac disease and eosinophilic esophagitis, rosnilimab in a Phase 2b rheumatoid arthritis trial and ANB101 in Phase 1a.
1. Nasdaq Listing and Cash Position
First Tracks Biotherapeutics began trading on the Nasdaq Global Select Market under the ticker TRAX, launching with $180 million in cash and a projected two-year operating runway to support its development programs.
2. Pipeline Overview
The company’s initial portfolio comprises three clinical-stage antibody therapeutics: ANB033, a CD122 antagonist in Phase 1b for celiac disease and eosinophilic esophagitis; rosnilimab, a pathogenic T cell depleter in Phase 2b for rheumatoid arthritis; and ANB101, a BDCA2 modulator in Phase 1a.
3. Spin-Off Structure
The spin-off from AnaptysBio distributed one share of First Tracks common stock for each share of AnaptysBio held as of the April 6 record date, establishing First Tracks as an independent public entity.