AN2 Therapeutics Q3 2025 net loss $9.4M, cash $65.1M; Chagas Phase 1 ongoing

AN2 Therapeutics, Inc.

2025-Q3 EPS reported -$0.88 vs consensus -$0.22 ▼ miss (-292.2%)

Net loss of $9.4M vs $12.7M in Q3 2024, R&D expense $7.0M (down from $8.3M), G&A $3.0M.
Cash, equivalents and investments $65.1M at Sept 30, 2025; projected runway into 2028.
Chagas Phase 1 of oral AN2-502998 advancing; data expected Q1 2026, Phase 2 start in 2026.
M. abscessus program: IIT expected to begin enrollment early 2026, pending regulatory clearance.
Collaboration with GSK on boron-based TB drugs, with third-year Gates Foundation funding.

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