Quarterly ResultMay 14, 2026, 04:28 PM
First Tracks Biotherapeutics Q1 Net Loss $50.5M; Business Update
AI Summary
First Tracks Biotherapeutics reported a net loss of $50.5 million for the first quarter ended March 31, 2026, an increase from $47.2 million in the prior year. The company, which launched on April 20, 2026, with $180 million in cash, announced a two-year cash runway to advance its pipeline. Key business updates include ongoing Phase 1b trials for ANB033 in celiac disease and eosinophilic esophagitis, with data expected in Q4 2026 and mid-2027 respectively, and the completion of an End-of-Phase 2 meeting for rosnilimab with the FDA.
Key Highlights
- Launched April 20, 2026, with $180M cash and a two-year cash runway.
- Q1 2026 net loss was $50.5 million, compared to $47.2 million in Q1 2025.
- Research and development expenses decreased to $34.0 million in Q1 2026.
- General and administrative expenses increased to $18.9 million in Q1 2026.
- ANB033 celiac disease Phase 1b data expected Q4 2026.
- ANB033 eosinophilic esophagitis Phase 1b data expected mid-2027.
- Rosnilimab completed End-of-Phase 2 meeting with FDA in Q1 2026.
- ANB101 Phase 1a trial in healthy volunteers nearing completion.