Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
MENLO PARK, Calif. - AN2 Therapeutics, Inc. (Nasdaq:ANTX), a clinical-stage biotech company with a market capitalization of $32.59 million and a strong liquidity position reflected in its current ratio of 8.68, has completed a 200-patient observational study on acute melioidosis that revealed a nearly 40% mortality rate by day 90 among confirmed cases despite current standard-of-care treatment. According to InvestingPro analysis, the company maintains a FAIR financial health score despite being in the development stage.
The study, funded by the National Institutes of Health, was conducted across three sites in melioidosis-endemic regions and completed in 11 months. Researchers tracked patients for over 90 days after they received standard treatment with IV meropenem or ceftazidime.
Notably, approximately 25% of screened patients died within 3-4 days before a definitive diagnosis could be confirmed, highlighting the rapid progression of the disease. These pre-diagnosis deaths were not included in the reported 40% mortality rate.
"The study represents a critical step in our mission to transform outcomes for patients with melioidosis," said Eric Easom, Co-founder, Chairman, President and CEO of AN2 Therapeutics, according to the press release statement.
The data will inform the design of a planned Phase 2 proof-of-concept trial for epetraborole, AN2’s investigational treatment for melioidosis. The company plans to submit an IND application and initiate the trial later this year.
Melioidosis is caused by Burkholderia pseudomallei, a bacterium classified as a high-priority biothreat agent by U.S. authorities. The disease is estimated to cause over 200,000 cases globally each year, primarily in tropical regions including Southeast Asia and northern Australia. In the United States, the pathogen has been found in Puerto Rico, the U.S. Virgin Islands, and Mississippi’s Gulf Coast.
If approved for treating acute melioidosis, AN2 would seek a priority review voucher and could generate revenue from government stockpiling and treatment use in endemic regions. Trading at $1.08, InvestingPro analysis suggests the stock is currently undervalued, with analyst price targets ranging from $1 to $2. Discover more detailed valuation insights and 12+ additional ProTips with an InvestingPro subscription.
The study was conducted in collaboration with the University of Oxford, Mahidol Oxford Tropical Medicine Research Unit, and Lao-Oxford-Mahosot Hospital-Wellcome Trust Research Unit. With the next earnings report due on August 7, 2025, investors can access comprehensive analysis and future growth projections through the detailed Pro Research Report available on InvestingPro, part of its coverage of over 1,400 US equities.
In other recent news, AN2 Therapeutics announced that its Phase 3 study of epetraborole for MAC lung disease did not meet the primary endpoint, leading to the decision to halt development for this indication. The study focused on patients with severe forms of the disease who have shown high resistance to standard treatments. Despite this setback, the company remains committed to its boron chemistry pipeline and is shifting its focus to other potential uses of epetraborole, such as for M. abscessus lung disease and intravenous applications for melioidosis. JMP Securities responded to the trial results by reducing the stock target from $5.00 to $2.00, although it maintained a Market Outperform rating, reflecting cautious optimism about the company’s future prospects.
AN2 Therapeutics is also preparing for a Phase 1 study of AN2-502998 for chronic Chagas disease, with completion expected in the second half of 2025. The company anticipates topline data from an observational trial for melioidosis in the second quarter of 2025, followed by a Phase 2 study aimed at reducing mortality rates. In addition to infectious diseases, AN2 is exploring oncology applications, with the first compounds from its boron chemistry platform expected to enter development in late 2025. To support these initiatives, the company has outlined a strategy to extend its cash runway into 2028, including workforce reductions and seeking non-dilutive funding.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.