TRAX Stock — First Tracks Biotherapeutics Inc.: Cash, EV, Pipeline

Share price

$38.60

Market cap

$1,379.2M

Cash

$168.0M

Enterprise value

$1,211.2M

Balance sheet

Cash	$168.0M
Debt	$0.0M
Net cash	$168.0M
Enterprise value	$1,211.2M
Basic shares	35.4M shares
Fully diluted shares	40.0M shares
Fully diluted market cap	$1,543.0M
Cash per share	$4.75

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Pipeline assets

ANB033

Phase 1 · Active Modality: monoclonal antibody (CD122 antagonist)

Target CD122

Indications

celiac disease (Stage not disclosed)
eosinophilic esophagitis (Stage not disclosed)

Status note Phase 1a healthy-volunteer topline reported October 2025. Global Phase 1b trials ongoing in celiac disease (approximately 70 patients) and eosinophilic esophagitis (50 patients). FDA Fast Track designation for celiac disease in patients on a gluten-free diet.

rosnilimab

Phase 2 · Active Modality: monoclonal antibody (pathogenic T cell depleter)

Target PD-1

Indications

moderate-to-severe rheumatoid arthritis (Stage not disclosed)

Status note Phase 2b trial in RA achieved its primary endpoint at Week 12 (reported February 2025, updated June 2025) with deepening responses through six months. End-of-Phase 2 meeting with the FDA completed in the first quarter of 2026.

ANB101

Phase 1 · Active Modality: monoclonal antibody (BDCA2 modulator)

Aliases CBS004

Target BDCA2

Partnerships Centessa Pharmaceuticals (exclusive global license to the BDCA2 modulator antibody portfolio, including ANB101)

Indications

autoimmune and inflammatory diseases (Stage not disclosed)

Status note Phase 1 healthy-volunteer trial initiated March 2025 and completed August 2026.

imsidolimab

Phase 3 · Active Modality: monoclonal antibody (IL-36R antagonist)

Target IL-36R

Partnerships Vanda Pharmaceuticals (exclusive global license for development and commercialization of imsidolimab; company retains milestone-payment rights via the spin-off separation agreement)

Indications

generalized pustular psoriasis (Stage not disclosed)

Status note Out-licensed to Vanda; two registration-enabling global Phase 3 trials (GEMINI-1, GEMINI-2) completed by the licensee.

Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	71,910	+71,910	0.07%	2026-08-14
Ikarian Capital	42,775	+42,775	0.14%	2026-08-14
Sphera Biotech	27,876	+27,876	0.08%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

TRAX — First Tracks Biotherapeutics Inc.

Balance sheet

Price history

Pipeline assets

Institutional holders