By Denny Jacob
AnaptysBio shares rose 7.2% on a share-repurchase program authorized to buy back up to $75 million of the company's common stock.
Shares were recently trading around $18.31. The stock is down 15% over the last year.
The clinical stage biotechnology company said it has cash, cash equivalents and investments greater than $420 million as of Dec. 31, 2024, and expects a receipt of a $75 million commercial sales milestones payment from GSK in 2025 or 2026.
The stock-repurchase plan will expire on Dec. 31 and may be suspended or discontinued at any time.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 24, 2025 12:09 ET (16:09 GMT)
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