AnaptysBio (ANAB), a recent IPO, is rallying today (+65%) on positive clinical data. In terms of quick background, AnaptysBio is a San Diego-based clinical-stage biotech company focusing on antibody product candidates that treat inflammation.
The company's proprietary anti-inflammatory pipeline includes its 1) anti-IL-33 antibody (ANB020) for the treatment of moderate-to-severe adult atopic dermatitis, severe adult peanut allergy and severe adult eosinophilic asthma; 2) anti-IL-36R antibody (ANB019) for the treatment of rare inflammatory diseases, including generalized pustular psoriasis and palmo-plantar pustular psoriasis; and 3) a portfolio of checkpoint receptor agonist antibodies for the treatment of certain autoimmune diseases where immune checkpoint receptors are insufficiently activated.
ANB020 is an antibody that potently binds and inhibits the activity of interleukin-33, or IL-33, a pro-inflammatory cytokine that multiple studies have indicated is a central mediator of atopic diseases, including asthma, food allergies and atopic dermatitis. Following completion of a healthy volunteer Phase 1 trial of ANB020, AnaptysBio is continuing clinical development of ANB020 into Phase 2a studies for moderate-to-severe adult atopic dermatitis, severe adult peanut allergy and severe adult eosinophilic asthma.
AnaptysBio's antibody pipeline has been developed using its proprietary somatic hypermutation (SHM) platform, which uses in vitro SHM for antibody discovery and is designed to replicate key features of the human immune system to overcome the limitations of competing antibody discovery technologies. AnaptysBio has also developed multiple therapeutic antibodies in an immuno-oncology partnership with TESARO (TSRO) and an inflammation partnership with Celgene (CELG), including an anti-PD-1 antagonist antibody (TSR-042), an anti-TIM-3 antagonist antibody (TSR-022) and an anti-LAG-3 antagonist antibody (TSR-033), which are currently under clinical development with TESARO, and an anti-PD-1 checkpoint agonist antibody (CC-90006) currently in the clinic with Celgene.
Turning to today's news, AnaptysBio announced positive proof-of-concept data for ANB020 in an ongoing Phase 2a clinical trial in adult patients with moderate-to-severe atopic dermatitis. After a single dose of ANB020, 75% of patients achieved an Eczema Area Severity Index (EASI) score improvement of 50% relative to enrollment baseline.
Moderate-to-severe atopic dermatitis is a serious disease associated with chronic skin inflammation and debilitating pruritus, with a clear unmet medical need, according to the primary investigator of the Phase 2a study. He went on to say that the rapid and sustained benefit observed in patients after a single dose of ANB020 is an encouraging interim result from this trial.
AnaptysBio says it's very encouraged by the efficacy results to date in this Phase 2a study. The company plans to report full data from this trial at a medical conference following study completion. During 1H18, AnaptysBio plans to initiate a Phase 2b study in 200-300 adult patients with moderate-to-severe atopic dermatitis to evaluate multi-dose subcutaneous administration of ANB020, with data expected in 2019. AnaptysBio also continues to advance its ongoing ANB020 Phase 2a studies in adults with severe peanut allergy with topline data expected in 4Q17, and adults with severe eosinophilic asthma with topline data expected in 1H18.
In sum, based on the stock reaction, investors are clearly pleased with the Phase 2a trial results. Of note, ANAB is a recent IPO, having made its debut in January 2017. The IPO priced at $15 and opened at $16. After spending months in a trading range between $20 and $30, the stock has recently broken above that range and is trading to a new post-IPO high today above $50. ANAB appears to be a name to keep on the radar.