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Tuesday, AN2 Therapeutics (NASDAQ:ANTX), currently trading at $1.14 with a market cap of $33.5 million, maintained their Market Outperform rating and $5.00 price target, as reiterated by JMP Securities following a detailed expert call. According to InvestingPro data, analyst targets range from $1 to $5, suggesting significant potential upside from current levels. The firm’s analyst, Roy Buchanan, hosted a discussion with Dr. Stephen Ruoss, an esteemed Professor in Pulmonary and Critical Care at Stanford Medical (TASE:BLWV) with extensive experience in treating NTM diseases and involvement in significant therapeutic trials.
During the call, Dr. Ruoss expressed optimism about the patient-reported outcome (PRO) efficacy results of AN2 Therapeutics’ EBO-301 Phase 2/3 for epetraborole, a potential treatment for Mycobacterium avium complex (MAC) NTM infections. He conveyed a sense of encouragement by the PRO efficacy results, although he was not surprised by the less favorable culture conversion outcomes.
The conversation with Dr. Ruoss led JMP Securities to continue endorsing the potential of epetraborole. The analyst highlighted Dr. Ruoss’s expectations for the drug to replicate its Phase 2 results in the ongoing Phase 3 trials. InvestingPro analysis shows the company maintains a "Fair" overall financial health score, though the stock has faced challenges with a -63% return over the past year. According to Dr. Ruoss, epetraborole could represent a significant advancement in the treatment of MAC NTM, potentially extending its benefits to other forms of the disease.
JMP’s maintained price target reflects confidence in the future success of epetraborole, considering the clinical meaningfulness of the QOL-B PRO results observed thus far. The firm anticipates that epetraborole will be a valuable addition to the current treatment options for patients suffering from MAC NTM.
The insights provided by Dr. Ruoss are particularly valuable given his two decades of experience and his role in pivotal clinical trials for NTM treatments, including the ARISE trial for Arikayce. InvestingPro analysis indicates the stock is currently undervalued, with a strong current ratio of 9.75 suggesting solid short-term financial stability. For deeper insights into AN2 Therapeutics and similar biotech opportunities, subscribers can access comprehensive Pro Research Reports covering 1,400+ US stocks. His perspective on epetraborole adds credence to JMP Securities’ positive outlook on AN2 Therapeutics and its investigational drug.
In other recent news, AN2 Therapeutics has submitted an amended statistical analysis plan to the FDA for its Phase 3 EBO-301 trial, focusing on the Quality of Life - Bronchiectasis (QOL-B) respiratory domain as the primary efficacy endpoint. This decision follows Phase 2 results indicating a clinical improvement in patients with limited treatment options. The company plans to unblind and discuss Phase 3 data with the FDA in the second quarter of 2025. JMP Securities has maintained its Market Outperform rating on AN2 Therapeutics, with a consistent price target of $5.00. The anticipation around the unblinding of Phase 3 data for epetraborole, their lead drug candidate, is highlighted as a key driver of interest. Analyst Roy Buchanan from JMP Securities notes confidence in the company’s efficacy arguments, supported by positive patient-reported outcomes. AN2 Therapeutics is also engaged in discussions with the FDA, which are expected to occur in the first half of the year. The outcome of these discussions and the Phase 3 study results are eagerly awaited by investors and could significantly impact the company’s trajectory.
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