earnings
confidence high
sentiment negative
materiality 0.80
AN2 Therapeutics reports FY2023 net loss of $64.7M; Phase 2/3 trial paused, topline expected summer 2024
AN2 Therapeutics, Inc.
- Net loss FY2023 $64.7M vs $41.0M prior year; Q4 net loss $16.9M vs $11.8M.
- Cash, equivalents and investments $134.5M at Dec 31, 2023.
- Phase 3 enrollment in epetraborole TR-MAC trial paused voluntarily Feb 2024 due to potentially lower efficacy; Phase 2 topline results expected summer 2024.
- Plan to discuss Phase 2/3 data with FDA; no safety concerns prompted pause.
- Executed license from UGA for Chagas disease candidate AN2-502998; Gates Foundation grant for TB/malaria.