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Here's Why Shares of AnaptysBio Jumped Today

TheMotleyFool

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Here's Why Shares of AnaptysBio Jumped Today

Shares of AnaptysBio (NASDAQ: ANAB) closed up 15% on Monday after the company reported fourth-quarter earnings and updated investors on its pipeline.

Since AnaptysBio doesn't have any drugs on the market, the financial results clearly weren't the thing that drove the stock higher. For the record, the biotech generated $8 million in revenue in 2019 through a milestone payment from GlaxoSmithKline (NYSE: GSK) for the start of a phase 2 clinical trial of TSR-033, a drug AnaptysBio licensed to Tesaro, which was subsequently acquired by GlaxoSmithKline. Anaptys lost $97.3 million for the year.

Image source: Getty Images.

Source Fool.com

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