AnaptysBio Shares Gain on FDA Approval for Rectal Cancer Drug

By Elias Schisgall

Shares of AnaptysBio rose after a drug discovered by the company received approval from the Food and Drug Administration to treat rectal cancer.

Shares gained 5.8% to $49.31 in Monday afternoon trading. The stock has risen 53% this year.

The FDA granted accelerated approval to Jemperli, known generically as dostarlimab, as an immunotherapy for adults with stage II and III microsatellite instability-high/mismatch repair deficient locally advanced rectal cancer.

Jemperli was discovered by AnaptysBio and licensed to GSK unit Tesaro, which is handling research, development, commercialization, and manufacturing of the drug.

AnaptysBio manages the financial collaborations for Jemperli and another drug being developed by Vanda.

Write to Elias Schisgall at elias.schisgall@wsj.com