First Tracks Biotherapeutics closes $200 million private placement

First Tracks Biotherapeutics, Inc. (Nasdaq: TRAX) closed its private placement of common stock on October 19, 2026, according to a Form 8-K filed with the SEC. The company closed the private placement of an aggregate 6,106,870 shares of common stock, par value $0.001 per share.¹

At closing, the company finalized the terms governing disclosure of those shares. First Tracks entered into a registration rights agreement with the investors in the private placement, under which the company is required to file or confidentially submit a registration statement with the SEC covering the resale by the investors of the shares as promptly as reasonably practicable, and in any event no later than 30 days following the closing date.¹

The closing follows the October 15, 2026 announcement of the deal. First Tracks had entered into a securities purchase agreement to sell the 6,106,870 shares to a limited group of institutional investors at $32.75 per share, anticipating approximately $200 million in gross proceeds before deducting placement agent fees and other expenses.² Participants in the placement included new and existing investors such as 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.² The company said it intends to use the proceeds for general corporate purposes, including clinical development of ANB033, a CD122 antagonist.² Leerink Partners, Piper Sandler, UBS Investment Bank and Wells Fargo Securities acted as placement agents for the transaction.²

First Tracks' pipeline includes ANB033, a CD122 antagonist in development for celiac disease and eosinophilic esophagitis; rosnilimab, a pathogenic T cell depleter in development for rheumatoid arthritis; and ANB101, a BDCA2 modulator.² The 8-K announcing the closing was signed by Chief Financial Officer Ajim Tamboli and filed on October 20, 2026.