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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.
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.
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