First Tracks Biotherapeutics begins Nasdaq trading as TRAX with $180 million in cash

First Tracks Biotherapeutics, Inc. (Nasdaq: TRAX) said on April 20, 2026 that it launched as an independent, publicly traded clinical-stage biotechnology company. Its common stock begins trading that day on the Nasdaq Global Select Market under the symbol "TRAX".

The company said it launches with $180 million in cash and a two-year cash runway. The runway is a forward-looking statement, and the company lists its ability to fund development activities among the risks that could change results.

The spin-off was completed after AnaptysBio, Inc. distributed to its shareholders one share of First Tracks common stock for every one share of AnaptysBio common stock owned at the close of business on April 6, 2026, the record date.

First Tracks develops antibody therapies that act on immune pathways tied to autoimmune and inflammatory diseases. Its first three development-stage assets are ANB033, a CD122 antagonist in a Phase 1b trial for celiac disease and eosinophilic esophagitis; rosnilimab, a pathogenic T cell depleter that has completed a Phase 2b trial for rheumatoid arthritis; and ANB101, a BDCA2 modulator in a Phase 1a trial.

Daniel Faga, president and chief executive officer, said ANB033 is the lead operating program.

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