---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-224124"
form_type: "8-K"
ticker: "TRAX"
cik: "0002091349"
company_name: "First Tracks Biotherapeutics, Inc."
filed_at: "2026-05-14T20:24:52+00:00"
generated_at: "2026-05-14T20:27:05.280712+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# First Tracks Q1 net loss $50.5M; launched with $180M cash; ANB033 Phase 1b data expected Q4 2026

## Summary
- Net loss of $50.5M for Q1 2026 vs $47.2M in Q1 2025; R&D expense $34.0M (down from $41.5M).
- Launched on April 20 with $180M cash and a two-year runway to fund ANB033 and other programs.
- ANB033 Phase 1b trials in celiac disease and eosinophilic esophagitis ongoing; top-line data Q4 2026 and mid-2027.
- Rosnilimab had productive End-of-Phase 2 FDA meeting for RA; company assessing strategic options.
- G&A expense rose to $18.9M from $9.8M due to separation costs and stock compensation.

## SEC filing metadata
- accession: 0001193125-26-224124
- form_type: 8-K
- ticker: TRAX
- cik: 0002091349
- company_name: First Tracks Biotherapeutics, Inc.
- filed_at: 2026-05-14T20:24:52+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2091349/000119312526224124/0001193125-26-224124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2091349/000119312526224124/trax-20260514.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-224124
- JSON: https://secwatch.observer/filing/0001193125-26-224124.json
- Plain text: https://secwatch.observer/filing/0001193125-26-224124.txt

## Key facts
- Earnings Releases
  First Tracks Biotherapeutics, Inc. reported the first quarter ended March 31, 2026 results: net income Net loss was $50.5 million for the three months ended March 31, 2026.
  - Period: the first quarter ended March 31, 2026
  - Net income: Net loss was $50.5 million for the three months ended March 31, 2026
  - Result: reported results
  source text: On May 14, 2026, First Tracks Biotherapeutics, Inc. (“First Tracks”) issued a press release announcing its financial results for the three months ended March 31, 2026. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2091349/000119312526224124/0001193125-26-224124-index.htm

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