AN2 Therapeutics Q2 net loss narrows to $6.5M; Chagas Phase 1 dosing underway; cash runway into 2028

AN2 Therapeutics, Inc.

2025-Q2 EPS reported -$0.57 vs consensus -$0.34 ▼ miss (-67.8%)

Net loss of $6.5M vs $14.4M in Q2 2024; R&D expenses down to $3.2M from $12.1M.
Cash, cash equivalents, and investments of $71.2M; operations funded into 2028.
Phase 1 FIH trial for Chagas drug AN2-502998 dosing started; Phase 2 planned for 2026.
Melioidosis observational study showed ~40% 90-day mortality; seeking U.S. government funding for Phase 2.
Two oncology development candidates (ENPP1 and PI3Kα) expected within 12 months.

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