Bullish indicating open at $55-$60, IPO prices at $37
MENLO PARK, Calif. - AN2 Therapeutics, Inc. (NASDAQ:ANTX), a clinical-stage biotech company with a market capitalization of $31.68 million, has completed dosing the first single ascending dose cohort in its Phase 1 clinical trial of oral AN2-502998, a drug candidate being developed for chronic Chagas disease, the company announced Tuesday. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 8.68, though its stock has declined 23.91% year-to-date.
The trial is evaluating the safety, tolerability, and pharmacokinetics of the compound in healthy volunteers. The company expects to complete Phase 1 dosing by the end of 2025, with Phase 2 planning already underway through a collaboration with the Drugs for Neglected Diseases initiative (DNDi). For detailed analysis of AN2 Therapeutics’ development pipeline and financial metrics, InvestingPro subscribers can access the comprehensive Pro Research Report, one of 1,400+ available deep-dive analyses.
AN2-502998 is a boron-based small molecule from the benzoxaborole class that targets CPSF3, a key factor involved in messenger RNA processing in T. cruzi, the parasite that causes Chagas disease. Preclinical studies in nonhuman primates naturally infected with T. cruzi have demonstrated the compound’s potential curative properties.
Chagas disease affects an estimated 6-7 million people worldwide, including approximately 300,000 in the United States and over 100,000 in Europe. The chronic infection can silently damage the heart and digestive system, potentially resulting in heart failure, stroke, or sudden death. Currently, there are no FDA-approved treatments for adults with Chagas disease.
"This is an exciting milestone for our team and the community of patients suffering from chronic Chagas disease," said Eric Easom, Co-Founder, Chairman, President, and CEO of AN2 Therapeutics. "Phase 2 potential proof-of-concept data is expected within our cash runway." Wall Street analysts have set price targets ranging from $1 to $2 for ANTX, reflecting varied expectations about the company’s clinical development progress. InvestingPro’s analysis indicates the stock is currently undervalued based on its proprietary Fair Value model.
The company plans to initiate Phase 2 trials in 2026, with data expected in 2027, according to the press release statement.
In other recent news, AN2 Therapeutics, Inc. has announced a collaboration with the non-profit organization Drugs for Neglected Diseases initiative (DNDi) to develop a treatment for chronic Chagas disease. This partnership will focus on the clinical development of AN2-502998, an oral drug candidate, with initial studies expected to conclude in the second half of 2025 and further studies planned for 2026. Additionally, AN2 Therapeutics completed a significant observational study involving 200 patients with acute melioidosis. The study, funded by the National Institutes of Health, found a nearly 40% mortality rate by day 90 among confirmed cases, despite patients receiving standard treatment. The study was conducted over 11 months across three sites in regions where melioidosis is prevalent. These developments highlight AN2 Therapeutics’ ongoing efforts in addressing neglected diseases and advancing clinical research.
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