First Tracks Biotherapeutics spin-off from AnaptysBio effective April 20; $80M PIPE at $13.81/sh

First Tracks Biotherapeutics, Inc.

Spin-off of biopharma assets: holders receive 1 share TRAX per ANAB share held on April 6 record date.
First Tracks starts with ~$180M cash and two-year runway; pipeline includes ANB033, rosnilimab, ANB101.
Concurrent $80M private placement: 5.79M shares at $13.81/sh to close after spin-off; Leerink & Barclays as placement agents.
Expected when-issued trading under TRAXV from April 6; regular-way TRAX trading starts April 20 on Nasdaq.
Spin-off expected to be a taxable transaction for U.S. federal income tax purposes.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.