First Tracks Biotherapeutics (TRAX) Reports Positive Phase 1b Cohort 1 Results

First Tracks Biotherapeutics (TRAX) agreed to sell 6.1 million shares at $32.75 each to investors, raising $200 million. The deal, set to close Oct. 19, 2026, includes a registration rights agreement. Proceeds will support development and corporate needs, according to the company.

First Tracks Biotherapeutics (TRAX) announced a $200M private placement, selling 6.11M shares at $32.75 each to institutional investors.

First Tracks Biotherapeutics reported positive Phase 1b results for ANB033, showing significant protection against gluten-induced intestinal damage in celiac disease patients. The treatment reduced IEL density, improved histology, and lowered symptom scores. No severe adverse events were reported. The company plans to advance ANB033 to late-stage development in 2027, with Cohort 2 data expected in Q1 2027.

Canaccord raised its price target for First Tracks Biotherapeutics (TRAX) to $60 from $50, maintaining a Buy rating. The move follows positive Phase Ib trial data for ANB033 in celiac disease, showing statistically significant improvements in histological measures and patient-reported symptoms. The stock is currently at $34.05, up 79% year-to-date. Multiple analysts have recently initiated or raised price targets for TRAX, reflecting optimism about its pipeline.

First Tracks Biotherapeutics (TRAX) shares rose 9% after positive Phase 1b trial results for ANB033 in celiac disease treatment. The stock is up $2.92 to $34.77 on Nasdaq.

First Tracks Biotherapeutics (TRAX) reported positive results from a Phase Ib study of ANB033 for celiac disease, showing significant symptom reduction and fewer adverse events compared to placebo. The company plans to present results at ICDS in November and expects cohort two data in Q1 2027. ANB033 targets both IL-15 and IL-2, differentiating it from other therapies. The FDA has granted Fast Track designation, and late-stage trials are anticipated in 2027.