Status note Royalty interest only; developed and marketed by GSK (FDA approved Apr 2021, full approval Feb 2023; chemo combo approved Jul 2023 and Aug 2024; EMA 2021/2025). Retained by ANAB post-separation; separation completed April 20, 2026.
Imsidolimab
Phase 3 · ActiveModality: monoclonal antibody
Target IL-36R
Partnerships Vanda: exclusive global license (Jan 2025); royalty/milestone-bearing; milestone rights allocated to First Tracks per separation agreement
Indications
Generalized pustular psoriasis (GPP)(Phase 3)
Catalysts
— December 12, 2026
Status note IL-36R antagonist mAb. Two registration-enabling global Phase 3 trials (GEMINI-1, GEMINI-2) completed; BLA submitted Dec 2025, accepted Feb 2026. Royalty interest retained by ANAB; Vanda develops/commercializes. Separation completed April 20, 2026.
Per-asset detail extracted from the 10-Q filed 2026-05-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.
Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
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