Is AnaptysBio Stock a Buy?
AnaptysBio (NASDAQ: ANAB) checks many boxes that make it an attractive biotech investment: It's got a sizable cash position, reputable pharma partners, and a promising drug pipeline. Throw in a depressed stock price and the company looks even more appealing. Is now the time for investors to jump in?
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AnaptysBio had $428.5 million in cash and equivalents on its books at the end of 2019, providing ample resources for its research and development activities. The company expects a net cash burn of $60 million in 2020 and claims its current funds can carry operations into 2023. Cash-rich companies are better positioned to weather R&D setbacks or macro challenges like COVID-19, compared with companies in need of near-term funding.
Source Fool.com
