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Sep 30, 2024
AN2 Therapeutics Q3 2024 Earnings Report
AN2 Therapeutics reported results for the third quarter of 2024, provided an update on EBO-301, and highlighted progress across its boron chemistry pipeline.
Key Takeaways
AN2 Therapeutics reported a net loss of $12.7 million for Q3 2024. Epetraborole-treated patients showed clinical improvements in QOL-B and MACrO2. The company plans to meet with the FDA to discuss the development path for epetraborole and is advancing its boron chemistry pipeline. They also achieved a 50% reduction in expenditures and have a cash runway through 2027.
Epetraborole demonstrated clinical improvements in QOL-B and a post-hoc analysis of MACrO2 in TR-MAC patients.
The company plans to meet with the FDA to discuss the development path for epetraborole, including potentially reinitiating a Phase 3 clinical study.
AN2 Therapeutics achieved a 50% reduction in expenditures through a strategic realignment of operations.
Cash, cash equivalents, and investments totaled $93.4 million at the end of Q3 2024, expected to fund operations through 2027.
AN2 Therapeutics
AN2 Therapeutics
Forward Guidance
AN2 Therapeutics is focused on advancing its boron chemistry platform and plans to initiate Phase 1 clinical development with AN2-502998 in mid-2025. The company also completed enrollment in a 200-patient observational trial for epetraborole in acute melioidosis in October 2024 and these data will inform a Phase 2 proof of concept study that is planned to initiate enrollment in the second half of 2025.
Positive Outlook
- Advancing preclinical activities aimed to initiate clinical studies in chronic Chagas disease with AN2-502998 in mid-2025.
- Completed enrollment in a 200-patient observational trial for epetraborole in acute melioidosis in October 2024.
- Planning to initiate enrollment in a Phase 2 proof of concept study for melioidosis in the second half of 2025.
- Delivering up to three development compounds in 2025.
- Continuing efforts to tackle global health disease through non-dilutive funding from the Bill & Melinda Gates Foundation.