Quarterly ResultMay 11, 2026, 04:14 PM
AN2 Therapeutics Q1 Net Loss $10.0M; Advances 3 Programs to Phase 2
AI Summary
AN2 Therapeutics reported a net loss of $10.0 million for the first quarter ended March 31, 2026, a slight improvement from $10.6 million in the prior year. The company significantly strengthened its balance sheet by raising $40.0 million through a private placement in March 2026, extending its cash runway into 2029. Operationally, AN2 Therapeutics is advancing multiple programs, with oral epetraborole for polycythemia vera planned to enter Phase 2 in Q3 2026, and a Phase 2 investigator-initiated trial for M. abscessus lung disease already underway. Additionally, Phase 1 data for AN2-502998 in Chagas disease is expected in Q2 2026, and an ENPP1 candidate for solid tumors has been declared.
Key Highlights
- Net loss for Q1 2026 was $10.0 million, compared to $10.6 million in Q1 2025.
- Research and Development expenses decreased to $6.7 million in Q1 2026 from $7.7 million in Q1 2025.
- Cash, cash equivalents, and investments totaled $85.3 million at March 31, 2026.
- Raised $40.0 million gross proceeds through a private placement in March 2026.
- Projected cash runway into 2029 under the current operating plan.
- Oral epetraborole program for polycythemia vera advancing to Phase 2 in Q3 2026.
- Phase 2 investigator-initiated trial for M. abscessus lung disease commenced.
- Phase 1 data for AN2-502998 (Chagas disease) and NHP efficacy study results expected in Q2 2026.
- Declared ENPP1 candidate for solid tumors, moving from early research into development.