AnaptysBio Sells Royalty Interest In Cancer Drug For $45M

AnaptysBio Inc ANAB, a clinical-stage biotechnology company focused on immunology therapeutics, has sold its royalty interest on future global net sales of Zejula (Niraparib) to a wholly-owned subsidiary of DRI Healthcare Trust for up to $45 million.
GSK Plc's GSK Zejula is indicated as monotherapy for the maintenance treatment of advanced ovarian cancer.
AnaptysBio has received a $35 million upfront payment for selling its 1% royalty on global net sales of Zejula, which, due to reductions relating to third-party royalties, is paid at an effective rate of 0.5%.
Related: Raymond James Initiates AnaptysBio With ~42% Upside, Despite Trial Setback.
The company is also eligible to receive a further $10 million from DRI upon FDA approval of Zejula for endometrial cancer.
The drug is currently in a fully-enrolled ongoing Phase 3 study, to the extent that such approval occurs on or before December 31, 2025.
Earlier this month, AnaptysBio faced a setback when the HARP Phase 2 trial of imsidolimab for moderate-to-severe hidradenitis suppurativa did not demonstrate efficacy over placebo.
Price Action: ANAB shares are up 0.58% at $25.83 on the last check Monday.