---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-164328"
form_type: "8-K"
ticker: "TRAX"
cik: "0002091349"
company_name: "First Tracks Biotherapeutics, Inc."
filed_at: "2026-04-20T23:59:59+00:00"
generated_at: "2026-05-15T05:23:55.311056+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "medium"
source: SEC EDGAR
---

# First Tracks Biotherapeutics completes spin-off from AnaptysBio and raises ~$80M in private placement

## Summary
- Spin-off effective April 20, 2026; AnaptysBio holders received one First Tracks share per AnaptysBio share held on April 6 record date.
- Private placement of ~10.5M shares at $13.81: company issued 5.79M shares (~$80M proceeds) and selling stockholder sold 4.71M shares.
- Entered Separation and Distribution and Transition Services Agreements with AnaptysBio to govern asset/liability split and post-spin operations.
- First Tracks received $100M cash and rights to up to $35M in milestone payments from Vanda Pharmaceuticals collaboration.

## SEC filing metadata
- accession: 0001193125-26-164328
- form_type: 8-K
- ticker: TRAX
- cik: 0002091349
- company_name: First Tracks Biotherapeutics, Inc.
- filed_at: 2026-04-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: medium
- sec_items: 1.01, 2.01, 3.02, 3.03, 5.03, 5.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2091349/000119312526164328/0001193125-26-164328-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2091349/000119312526164328/d78703d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-164328
- JSON: https://secwatch.observer/filing/0001193125-26-164328.json
- Plain text: https://secwatch.observer/filing/0001193125-26-164328.txt

## Source-grounded claims
- claim_id: 0a45008cb1e1fe1b7379f1bd6d2da84ffa83caca
  claim: First Tracks Biotherapeutics, Inc.: Amended and Restated Certificate of Incorporation became effective in connection with the Spin-Off.
  evidence_excerpt: We filed an Amended and Restated Certificate of Incorporation (the “Charter”) with the Secretary of State of the State of Delaware, which became effective in connection with the Spin-Off.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2091349/000119312526164328/0001193125-26-164328-index.htm
- claim_id: a88750d1fb66a91688e3a72d2d96f4c2f9e9c9e2
  claim: First Tracks Biotherapeutics, Inc.: Bylaws became effective in connection with the Spin-Off.
  evidence_excerpt: Our Bylaws (the “Bylaws”) also became effective in connection with the Spin-Off.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2091349/000119312526164328/0001193125-26-164328-index.htm
- claim_id: 3a58de5f73c71c9b0f1d5a66a86ee0ead88512a3
  claim: First Tracks Biotherapeutics, Inc. completed a disposition involving AnaptysBio, Inc. (closed 2026-04-20).
  evidence_excerpt: On the Distribution Date, AnaptysBio completed the Spin-Off.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2091349/000119312526164328/0001193125-26-164328-index.htm
- claim_id: 1b2ad13ee33d11bd021bf1c882ba15bd88328ac7
  claim: First Tracks Biotherapeutics, Inc. entered into Transition Services Agreement with AnaptysBio.
  evidence_excerpt: the Company entered into a Separation and Distribution Agreement and a Transition Services Agreement (collectively, the "Spin Agreements") with AnaptysBio
  evidence_url: https://www.sec.gov/Archives/edgar/data/2091349/000119312526164328/0001193125-26-164328-index.htm
- claim_id: 631470f7340f756208beb551f2662015c19a999e
  claim: First Tracks Biotherapeutics, Inc. entered into Separation and Distribution Agreement with AnaptysBio.
  evidence_excerpt: the Company entered into a Separation and Distribution Agreement and a Transition Services Agreement (collectively, the "Spin Agreements") with AnaptysBio
  evidence_url: https://www.sec.gov/Archives/edgar/data/2091349/000119312526164328/0001193125-26-164328-index.htm

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