---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-140835"
form_type: "8-K"
ticker: "TRAX"
cik: "0002091349"
company_name: "First Tracks Biotherapeutics, Inc."
filed_at: "2026-04-03T23:59:59+00:00"
generated_at: "2026-05-15T07:43:18.694739+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-140835
- form_type: 8-K
- ticker: TRAX
- cik: 0002091349
- company_name: First Tracks Biotherapeutics, Inc.
- filed_at: 2026-04-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2091349/000119312526140835/0001193125-26-140835-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2091349/000119312526140835/d111394d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-140835
- JSON: https://secwatch.observer/filing/0001193125-26-140835.json
- Plain text: https://secwatch.observer/filing/0001193125-26-140835.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.