First Tracks Biotherapeutics Completes Spin-Off, Raises $80M

First Tracks Biotherapeutics completed its spin-off from AnaptysBio on April 20, 2026, becoming an independent publicly traded company. Concurrently, the company raised approximately $80 million in gross proceeds from a private placement of 5,791,479 common shares at $13.81 per share. For the second quarter of 2026, the company reported a net loss of $33.37 million, an improvement from $42.45 million in the same period last year. Cash and cash equivalents stood at $168.02 million as of June 30, 2026.