First Tracks Biotherapeutics, Inc.

First Tracks Biotherapeutics, Inc. entered into a Sublease Agreement with AnaptysBio, Inc. for approximately 45,057 rentable square feet of office space in San Diego, California. The sublease commenced on June 15, 2026, for a term of twelve months, with an option to extend. The company is obligated to pay monthly rent equivalent to the Basic Rent and Additional Rent under AnaptysBio's Master Lease.

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.

First Tracks Biotherapeutics, Inc. completed its spin-off from AnaptysBio, Inc. on April 20, 2026, becoming a separate public company listed on Nasdaq under "TRAX". Concurrently, the company raised approximately $80 million in gross proceeds from a private placement of 5,791,479 primary shares at $13.81 per share. This S-1 registration statement covers the resale of up to 10,497,054 shares by selling stockholders, including those from the private placement. The company believes its existing cash, cash equivalents, and investments will fund its current operating plan beyond the next 12 months, despite reporting a pro forma net loss of $(171,081) thousand for 2025.

First Tracks Biotherapeutics, Inc. completed its spin-off from AnaptysBio, Inc. on April 20, 2026. As part of the spin-off, AnaptysBio shareholders received one share of First Tracks common stock for every one share of AnaptysBio common stock held. Concurrently, First Tracks completed a private placement, issuing 5,791,478 shares and a selling stockholder selling 4,705,575 shares, both at a purchase price of $13.81 per share, totaling approximately $145 million. This establishes First Tracks as an independent public entity with new capital.