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Mar 31, 2025
AN2 Therapeutics Q1 2025 Earnings Report
AN2 Therapeutics reported a decrease in net loss and total operating expenses for Q1 2025 compared to Q1 2024, driven by reduced clinical trial costs and personnel-related expenses.
Key Takeaways
AN2 Therapeutics experienced a significant reduction in net loss and total operating expenses in the first quarter of 2025 compared to the same period in 2024. This improvement was primarily due to decreased clinical trial costs and personnel-related expenses, partially offset by increased preclinical and research study expenses.
Net loss decreased by 36% to $10.649 million in Q1 2025 from $16.617 million in Q1 2024.
Total operating expenses decreased by 37% to $11.537 million in Q1 2025 from $18.296 million in Q1 2024.
Research and development expenses saw a 48% decrease, falling to $7.690 million in Q1 2025 from $14.655 million in Q1 2024, mainly due to the termination of the EBO-301 trial.
Cash and cash equivalents at the end of Q1 2025 were $19.985 million, down from $21.351 million at the end of 2024.
Forward Guidance
AN2 Therapeutics anticipates continued operating losses and increased expenses as it advances product candidates through clinical trials and seeks regulatory approvals. The company expects its current cash and investments to fund operations for at least 12 months.
Positive Outlook
- Focus on advancing AN2-502998 for chronic Chagas disease, with Phase 1 study completion anticipated in H2 2025.
- Pursuing oncology targets with potential for clinical proof of concept within current cash runway.
- Studying epetraborole for acute melioidosis, with topline data from observational trial expected in Q2 2025 to inform Phase 2 study.
- Continued efforts to discover, develop, and commercialize a portfolio of product candidates to treat diseases with high unmet need.
- Potential for additional non-dilutive funding opportunities, including government awards.
Challenges Ahead
- Expect to incur substantial additional losses in future periods due to ongoing research and development activities.
- Future capital requirements will depend on many factors, including timing and extent of spending on research and development.
Historical Earnings Impact
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