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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 (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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