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AN2 Therapeutics, Inc. (Nasdaq: ANTX) is a clinical-stage biopharmaceutical company based in California focusing on developing innovative treatments for rare, chronic, and serious infectious diseases. The company’s mission is to harness modern biomedical expertise to create transformative medicines for patients globally. AN2’s leading drug candidate, epetraborole, targets non-tuberculous mycobacterial (NTM) lung disease, an often fatal and progressive bacterial infection.
Currently, AN2 is conducting a pivotal Phase 2/3 clinical trial of epetraborole for treatment-refractory Mycobacterium avium complex (MAC) lung disease. The trial, which operates across over 100 clinical sites in the U.S., Japan, South Korea, and Australia, aims to provide a new oral treatment option for patients with limited alternatives. The company recently announced the voluntary pause of Phase 3 enrollment following an analysis of Phase 2 data, allowing time for more in-depth review and potential modifications based on feedback from the FDA.
AN2 Therapeutics reported robust financial health with cash and investments of $118.1 million as of March 31, 2024, ensuring the continuation of their research and development endeavors. Besides epetraborole, AN2 is also progressing in other areas such as Chagas disease and tuberculosis, supported by grants from the Bill & Melinda Gates Foundation and collaborations with esteemed institutions like the University of Georgia.
The company's dedication to addressing unmet medical needs is further demonstrated through its boron chemistry platform, which aims to discover novel therapies for global health challenges. With ongoing clinical trials and a solid financial foundation, AN2 Therapeutics positions itself as a key player in the fight against infectious diseases.
AN2 Therapeutics, Inc. (Nasdaq: ANTX) has received a second-year continuation of a research grant from the Bill & Melinda Gates Foundation to discover novel, boron-containing small molecules for the treatment of tuberculosis (TB) and malaria. The grant supports the discovery of novel inhibitors of aminoacyl-tRNA synthetases using AN2's proprietary boron chemistry platform.
The company aims to combat drug resistance and shorten treatment duration for these infectious diseases, which together cause nearly 2 million deaths per year worldwide. The program focuses on leucyl-tRNA synthetase, a validated human target in Mycobacteria and other bacteria and fungi, with potential applications in TB and nontuberculous Mycobacteria lung disease.
This research builds on AN2's scientific accomplishments in discovering novel leucyl-tRNA synthetase inhibitors, including epetraborole, tavaborole, and ganfeborole.
AN2 Therapeutics (Nasdaq: ANTX), a biopharmaceutical company specializing in novel small molecule therapeutics derived from boron chemistry, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. Eric Easom, the company's Co-Founder, Chairman, President, and CEO, will deliver a corporate overview on Tuesday, September 10 at 9:30am ET.
Investors and interested parties can access a webcast of the presentation through the Investors section of AN2 Therapeutics' website. The company will also provide an archived replay of the presentation, available for at least 30 days following the event. This conference appearance offers an opportunity for AN2 Therapeutics to showcase its progress and strategy in developing innovative therapeutics based on its proprietary boron chemistry platform.
AN2 Therapeutics (Nasdaq: ANTX) has adopted a duration stockholder rights plan set to expire on August 15, 2025. This decision comes after the company discovered a rapid accumulation of 19.3% of its common stock by BML Investment Partners, L.P. The plan aims to ensure fair treatment of all stockholders and protect against coercive tactics aimed at gaining control without paying a full premium.
Key points of the rights plan include:
- Distribution of one preferred stock purchase right per common stock share to stockholders of record on August 29, 2024
- Exercise price of $6.50 per right under certain circumstances
- Board's ability to redeem rights at $0.01 per right before 20% ownership threshold is reached
- Provisions for stockholders to purchase additional shares at a discount if a person or group acquires 20% or more of common stock
AN2 Therapeutics (Nasdaq: ANTX) reported Q2 2024 financial results and recent business updates. Key points include:
- Cash position: $104.5 million as of June 30, 2024, expected to fund operations through 2027
- Termination of epetraborole Phase 2/3 study in TR-MAC lung disease due to similar sputum culture conversion rates between treatment arms
- Pipeline advancement: Two development programs expected to enter clinical trials in 2025
- Q2 2024 financials: R&D expenses $12.1 million, G&A expenses $3.7 million, net loss $14.4 million
Despite setbacks in the MAC lung disease study, AN2 remains focused on advancing its boron chemistry platform in infectious diseases and oncology.
AN2 Therapeutics (Nasdaq: ANTX) announced that the EBO-301 Phase 2/3 study evaluating epetraborole for treatment-refractory Mycobacterium avium Complex (MAC) lung disease will be discontinued. The Phase 2 part met its primary objective of demonstrating a higher patient-reported outcome (PRO)-based clinical response rate (39.5% vs. placebo 25.0%; p=0.19), but sputum culture conversion at Month 6 was similar between treatment arms (13.2% vs. 10.0%; p=0.64). No significant safety concerns were noted.
The company will shift focus to its boron chemistry platform and other pipeline programs, including Chagas disease and melioidosis. Restructuring and cost savings are expected to extend the cash runway through 2027. Further evaluation of the EBO-301 study results will inform future development of epetraborole for NTM lung disease.
AN2 Therapeutics (Nasdaq: ANTX) released its Q1 2024 financial results and recent business updates. The company is focusing on the Phase 2/3 trial of epetraborole for treatment-refractory Mycobacterium avium Complex (TR-MAC). Phase 2 topline results are expected in August 2024. Phase 3 enrollment is paused due to lower than expected efficacy, not safety issues. R&D expenses rose to $14.7M from $12.0M YoY, while G&A expenses decreased to $3.6M from $4.1M. The net loss increased to $16.6M from $15.3M YoY. Cash reserves stood at $118.1M as of March 31, 2024.
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