This Study Will Evaluate the Safety, Tolerability, and Efficacy of ANB032 in Subjects with Moderate to Severe Atopic Dermatitis (AD).

Key Inclusion Criteria:

• Male or female aged 18 to 65 years and in good general health

• Moderate to severe AD for at least 6 months prior to Randomization

• History of inadequate response to treatment for AD with topical medications or forwhom topical treatments are otherwise medically inadvisable

• EASI score ≥ 16 at Screening and at Randomization

• vIGA AD score ≥ 3 at Screening and at Randomization

• AD involved BSA ≥ 10% at Screening and at Randomization

Key Exclusion Criteria:

• Any factors that in the Investigator's opinion would predispose the subject todevelop an infection

• Known or suspected congenital or acquired immunodeficiency state, or condition thatwould compromise the subject's immune status

• Not able to tolerate SC drug administration

• Tanning booth use or extended sun exposure that could affect disease severity orinterfere with disease assessments within 4 weeks before Randomization