In Plain English
AnaptysBio, Inc. is splitting off First Tracks Biotherapeutics into its own separate, publicly-traded company. Shareholders typically receive shares in the new entity automatically. This was recently announced.
First Tracks Biotherapeutics will become a separate public company
Deal Progress
RUMORED
ANNOUNCED
PENDING
ACTIVE
COMPLETED
Parent Company
AnaptysBio, Inc.
ANAB
Biotechnology
SpinCo / Target
First Tracks Biotherapeutics
Announced
Sep 29, 2025
Sep 29, 25
Expected
Apr 20, 2026
4 days ago
Market Cap
Not disclosed
Deal Value
Not disclosed
Summary
AnaptysBio to spin off First Tracks Biotherapeutics with $180M cash. Distribution date set for April 20, 2026.
Deal Flow Timeline
Key milestones from announcement to expected completion
Deal Announced
2025-09-29
COMPLETEDForm 10 Filed
UPCOMINGIRS Tax Ruling
UPCOMINGShareholder Approval
UPCOMINGRecord Date
2026-04-20
UPCOMINGDistribution / Completion
2026-04-20
UPCOMINGDeal Announced
COMPLETEDInitial public announcement of the transaction.
2025-09-29
Form 10 Filed
UPCOMINGRegistration statement filed with the SEC for the new entity.
IRS Tax Ruling
UPCOMINGPrivate letter ruling confirming tax-free treatment.
Shareholder Approval
UPCOMINGBoard and/or shareholder vote to approve the separation.
Record Date
UPCOMINGRecord date for distribution of new shares.
Est: 2026-04-20
Distribution / Completion
UPCOMINGShares of the new entity distributed to shareholders.
Est: 2026-04-20