AN2 Therapeutics Q3 net loss narrows to $9.4 mln

Overview

• AN2 Therapeutics reports Q3 net loss of $9.4 mln, improved from $12.7 mln last year

• Company's R&D expenses decreased to $7 mln from $8.3 mln in Q3 2024

• AN2 advances Phase 1 trial for Chagas disease, collaborates with GSK on TB research

Outlook

• AN2 expects to initiate Phase 2 Chagas disease study in 2026

• Company plans to advance first oncology compound in early 2026

• AN2 projects cash reserves to sustain operations into 2028

Result Drivers

• R&D EXPENSES - Decline due to decreased clinical trial expenses, personnel-related expenses, chemistry manufacturing and controls expenses, and consulting and outside services

• RESTRUCTURING CHARGES - No restructuring charges compared to $2.2 mln a year ago due to severance payments and other employee termination-related expenses

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for AN2 Therapeutics Inc is $1.50, about 20% above its November 11 closing price of $1.20

Press Release: ID:nBw6YppsFa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)