First Tracks Biotherapeutics, Inc. is a clinical-stage biotechnology company focused on developing antibody therapeutics for autoimmune and inflammatory diseases. The company’s current pipeline centers on immunology programs designed to modulate immune pathways involved in conditions with significant unmet medical need. Its lead candidates include rosnilimab, an antibody therapeutic being studied in rheumatoid arthritis, ANB033, a CD122 antagonist being evaluated for celiac disease and eosinophilic esophagitis, and ANB101, a BDCA2 modulator. First Tracks Biotherapeutics operates primarily in research and development, with its work centered on advancing biologic therapies through early- and mid-stage clinical development. Based in San Diego, California, the company is positioned within the biotechnology and pharmaceuticals market, where it contributes to the broader effort to create targeted treatments for immune-mediated disorders.
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$0.00
Net Income (TTM)
-$173M
▼ -54.2% YoY
Op. Margin
–
ROIC
-34.26%
▼ -12.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$148M
▼ -34.5% YoY
Op. Cash Flow (TTM)
-$148M
▼ -35.3% YoY
Net Debt
-$369M
Net Cash Position
Cash & Equiv.
$385M
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Peers
Biotechnology · Pick stocks to compare with TRAX
Held by ETFs
TRAX is in 37 US ETFs. The largest of them, with TRAX's weight in each:
First Tracks Biotherapeutics (TRAX) in three numbers
Questions about First Tracks Biotherapeutics
Is First Tracks Biotherapeutics a high-quality business?
First Tracks Biotherapeutics scores 16 out of 100 on Intrinsiqq's quality score, which makes it a lower-quality business on these measures. The score blends 4 checks computed from company filings. Its best check is net debt at -$369M, and its weakest is return on capital at -34.3%. The Quality tab shows every check against its target.
Does First Tracks Biotherapeutics (TRAX) pay a dividend?
No. First Tracks Biotherapeutics (TRAX) does not pay a dividend, and no dividend payment appears anywhere in the filing history we hold. Nor has its share count fallen meaningfully over the last twelve months, so cash is kept in the business. The Dividends tab shows its cash returns.
Source: company filings. Price: last close 30 Oct 2026. How this is calculated. Sector medians are approximate S&P 500 benchmarks and update periodically. Analysis, not investment advice.
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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