First Tracks Biotherapeutics Announces ~$200M Private Placement Of 6,106,870 Shares At $32.75/Share To Institutional Investors

First Tracks Biotherapeutics, Inc. (NASDAQ:TRAX), a clinical stage biotechnology company advancing antibody therapeutics that modulate immune pathways implicated in autoimmune and inflammatory diseases, today announced that it has entered into a securities purchase agreement to sell 6,106,870 shares of its common stock to a limited group of institutional investors in a private placement at a price of $32.75 per share. First Tracks Biotherapeutics anticipates approximately $200 million in gross proceeds to the company before deducting placement agent fees and other expenses. Closing of the private placement is expected to occur on October 19, 2026, subject to the satisfaction of customary closing conditions.

The private placement included participation from new and existing investors including Affinity Asset Advisors, LLC, First Light Asset Management, Sirenia Capital Management LP, TCGX, Trails Edge Capital Partners, Vestal Point Capital, a life sciences-focused institutional investor and multiple leading mutual funds.

First Tracks Biotherapeutics intends to use the proceeds from the private placement for general corporate purposes, including for clinical development of ANB033, a CD122 antagonist.