Why AnaptysBio (ANAB) Shares Are Trading Lower Today - AnaptysBio (NASDAQ:ANAB)

AnaptysBio Inc ANAB announced topline data from its HARP Phase 2 trial of imsidolimab for moderate-to-severe hidradenitis suppurativa (HS).
The trial indicated that imsidolimab was safe and well tolerated. However, it did not demonstrate efficacy over placebo in the trial's primary and key secondary endpoints.
Clinical development of imsidolimab is being discontinued in hidradenitis suppurativa.
AnaptysBio stopped working on the drug for acne settings after failed Phase 2 trial.
Hidradenitis suppurativa is a painful, long-term skin condition that causes abscesses and scarring on the skin. It occurs near hair follicles with sweat glands, usually around the groin, bottom, breasts, and armpits.
Imsidolimab previously demonstrated efficacy and safety in the GALLOP Phase 2 trial in generalized pustular psoriasis (GPP). Enrollment of the GEMINI-1 GPP Phase 3 registrational trial is ongoing, and topline data is anticipated in Q4 2023.
The company plans to out-license investigational imsidolimab before potential FDA approval to treat GPP.
AnaptysBio also continues to advance the development of two wholly-owned immune cell modulators targeting PD-1 and BTLA for autoimmune and inflammatory diseases.
Topline data from the AZURE Phase 2 trial of rosnilimab, a PD-1 agonist antibody, in moderate-to-severe alopecia areata is anticipated in Q1 of 2023.
The company expects to file a U.S. IND for an initial Phase 2 trial of ANB032, a BTLA agonist antibody, in Q4 of 2022.
Price Action: ANAB shares are down 3.88% at $22.32 on the last check Thursday.

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AnaptysBio Faces Another Setback For Imsidolimab, Stalls Work In Skin Scarring Indication

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