First Tracks Biotherapeutics, spun off from AnaptysBio, launches with $180M cash and a diverse, early-stage pipeline. I rate TRAX as a Hold due to post-spin instability, near-term dilution risk, and a multi-year path to revenue. ANB033 targets celiac disease, with no current FDA-approved therapies; pivotal trial data are expected in Q4 2026–2027, with commercialization likely a decade away.
| Biotechnology Industry | Healthcare Sector | Daniel R. Faga CEO | XDUS Exchange | US3371851029 ISIN |
| US Country | 104 Employees | - Last Dividend | - Last Split | - IPO Date |