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Develops antibody therapies for inflammatory disease and earns royalties on antibodies it discovered and licensed to partners.
Develops antibody therapies for inflammatory disease and earns royalties on antibodies it discovered and licensed to partners.
Does not sell a medicine itself: its income is a royalty on GSK's sales of Jemperli, a cancer antibody it discovered, plus milestone payments, which it uses to fund its own inflammatory-disease pipeline.
Moat: narrow (IP / patents, process know-how). Proprietary antibody generation platform has produced multiple partnered, royalty-bearing approved drugs.
Headquarters: San Diego, California, US · Founded: 2005 · Employees: 104
Size AnaptysBio (ANAB) is a United States Health Care company (Biotechnology) with a market value of $1.39B, the 2044th largest of 3,117 United States companies the cockpit tracks. Shares closed at $46.45 on 6 Nov 2026.
Performance Over six months the shares fell 33.0%, against -19.8% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 19 in its peer set.
Growth Revenue grew 92.9% over the last twelve months (peer median +5.5%); the operating margin is 56.4% (peer median -44.2%).
Valuation It trades at 8.6× forward earnings against a peer median of 29.4× (2nd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is -27 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 82.6 points above its cost of capital (8.5% WACC).
Short interest Short interest is 18.0% of the free float (15 Oct 2026).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $238M | $235M | $91.3M | $17.2M | $10.3M |
| Revenue growth | — | +157% | +432% | +67% | — |
| Gross profit | n/a | $232M | $88.9M | $14.8M | $7.95M |
| EBITDA | $136M | $50.3M | -$113M | -$155M | -$113M |
| Net income | $196M | -$13.2M | -$145M | -$164M | -$129M |
| Free cash flow | $18.1M | $19.6M | -$136M | -$122M | -$74.0M |
| Capital expenditure | $13,000 | $87,000 | $358,000 | $807,000 | $358,000 |
| Total debt | $270M | $291M | $369M | $329M | $324M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| AnaptysBio ANAB | $1.39B | -33% | +93% | 56% | 8.6× | -1.2% |
| AbbVie ABBV | $515B | +45% | +11% | 36% | 18.4× | -0.1% |
| Genmab A/S GMAB.CO | $32.1B | +115% | +14% | 32% | 44.8× | 11.6% |
| Xencor XNCR | $2.66B | +178% | -29% | -206% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ANAB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.5% | -3.0% | 7th highest of 21 |
| 6-month return | -33.0% | -19.8% | 7th lowest of 19 |
| Distance from 52-week high | -35.8% | -41.7% | 8th highest of 21 |
| Revenue growth (TTM) | +92.9% | +5.5% | 3rd highest of 16 |
| Operating margin | 56.4% | -44.2% | highest of 15 |
| Forward P/E | 8.6× | 29.4× | 2nd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | -1.2% | 8.8% | 3rd least demanding of 6 |
| Growth delivered (Del g) | +25.6% | +9.9% | 2nd highest of 6 |
| Hurdle (Req g minus delivered) | -26.8 pp | +5.9 pp | 2nd least demanding of 6 |
| ROIC minus cost of capital | +82.6 pp | -4.4 pp | highest of 10 |
| EV / EBITDA | 11.0× | n/a | — |
| Net debt / EBITDA | 0.8× | -2.3× | 2nd most indebted of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AnaptysBio ANAB | United States | $1.39B | -33% | +93% | 56% | 8.6× | -1.2% | +25.6% |
| Hualan Biological Vaccine 301207.SZ | China | $1.39B | -21% | -28% | -7% | 42.8× | 36.5% | -13.1% |
| Oncolys BioPharma 4588.T | Japan | $1.39B | +162% | +1,662% | -303% | n/a | n/a | n/a |
| Pacific Shuanglin Bio-pharmacy 000403.SZ | China | $1.38B | -19% | +1% | 10% | 29.4× | n/a | n/a |
| Taysha Gene Therapies TSHA | United States | $1.41B | -36% | -32% | -2,855% | n/a | n/a | n/a |
| Korsana Biosciences KRSA | United States | $1.41B | +43% | -13% | -359% | n/a | n/a | n/a |
| Mineralys Therapeutics MLYS | United States | $1.36B | -48% | n/a | n/a | n/a | n/a | n/a |
| Kardigan KARD | United States | $1.45B | n/a | n/a | n/a | n/a | n/a | n/a |
| Tyra Bioscience TYRA | United States | $1.45B | -38% | n/a | n/a | n/a | n/a | n/a |
| Nuvation Bio NUVB | United States | $1.46B | -13% | +1,084% | -81% | n/a | n/a | n/a |
| PELL Bio-Med Technology 6949.TW | Taiwan | $1.49B | +126% | +5% | -1,720% | n/a | n/a | n/a |
| Liaoning Chengda Biotechnology 688739.SS | China | $1.28B | -10% | -9% | 0% | 46.2× | 8.8% | -7.0% |
| uniQure QURE | United States | $1.51B | -22% | +30% | -1,093% | n/a | n/a | n/a |
| Hugel 145020.KS | South Korea | $1.52B | -26% | +17% | 38% | 15.7× | -7.9% | +15.0% |
| Fujian Haixi Pharmaceuticals 2637.HK | Hong Kong | $1.53B | -41% | +25% | 33% | 48.2× | n/a | n/a |
| ANI Pharmaceuticals ANIP | United States | $1.55B | -18% | +31% | 13% | 7.6× | -4.1% | +33.5% |
| Inhibrx Biosciences INBX | United States | $1.24B | -37% | -100% | n/a | n/a | n/a | n/a |
| SpyGlass Pharma SGP | United States | $1.24B | +58% | n/a | n/a | n/a | n/a | n/a |
| TLC BioSciences 7924.TWO | Taiwan | $1.57B | n/a | n/a | n/a | n/a | n/a | n/a |
| Duality Biotherapeutics 9606.HK | Hong Kong | $1.23B | -60% | -5% | -181% | n/a | n/a | n/a |
| Akums Drugs and Pharmaceuticals AKUMS.NS | India | $1.22B | +34% | +18% | 10% | 27.0× | 15.8% | +9.9% |