Episode Details

AnaptysBio, Inc. (ANAB) Q2 2026 — September 21 close $54.99, down 0.39%; the release-session label is unverified, so this is not necessarily a clean post-print reaction baseline. Anaptys reported $5.11 of Q2 diluted EPS, but a $181.491M tax benefit drove the profit. The real value remains the post-Sagard Jemperli royalty stream, under an agreement now in unresolved litigation. THE CALL: HOLD (3/5, MODERATE) — base-case value ~$58.00 vs ~$54.99 today. KEY METRICS: - Q2 collaboration revenue $27.488M, +23.5% YoY - H1 Jemperli global sales $644.1M, +30.3% YoY - Q2 pretax loss $4.174M before $181.491M tax benefit - June cash + investments $164.143M - Sagard earned about $302.5M through June - GSK/Tesaro hearing scheduled October 20, 2026 - HOLD 3/5; $58 base / $55.50 weighted / $25–$95 scenarios What to watch: Read the actual litigation order, grade AZUR-1 and Quimilza decisions, and track Sagard paydown against H2 2027. Full research packet: https://chargedalpha.com/research/anab-q2-2026 Also on YouTube: @ChargedAlpha DISCLAIMER: For informational and educational purposes only. Not financial advice. Do your own research before any investment decision.