04:51 PM EDT, 09/29/2025 (MT Newswires) -- AnaptysBio ( ANAB ) said late Monday its board approved plans to explore splitting the company into two separate publicly traded firms, Royalty Management Co and Biopharma Co, by the end of 2026.

The royalty management company will oversee royalties and milestone payments from financial partnerships. The biopharma firm will focus on the development and potential commercialization of immunology therapeutics for autoimmune and inflammatory diseases, according to a statement.

Upon separation, the royalty company is expected to retain AnaptysBio's ( ANAB ) net operating loss carryforwards, while Biopharma Co will launch with capital to fund operations for at least two years. AnapytsBio CEO Daniel Faga is expected to be the CEO of Biopharma Co, according to the company.

Separation is subject to final approval of the board and customary conditions, the company said.

Shares of AnaptysBio ( ANAB ) were up over 8% during after-hours trading.