In a recent transaction, Sanjay Chanda, the Chief Development Officer of AN2 Therapeutics, Inc. (NASDAQ:ANTX), sold 2,957 shares of the company’s common stock. The shares were sold on January 3, 2025, at an average price of $1.341 per share, amounting to a total value of $3,965. The transaction comes as ANTX shares trade near $1.35, down 93% over the past year and significantly below their 52-week high of $22.22. According to InvestingPro analysis, the stock appears undervalued at current levels. This sale was conducted to satisfy tax withholding obligations arising from the vesting of Restricted Stock Units (RSUs) on January 1, 2025. Following this transaction, Chanda holds 29,824 shares, which include RSUs scheduled to vest over the next three years, contingent on continued service to the company. The micro-cap company, valued at $41.23 million, maintains a Fair financial health rating according to InvestingPro’s comprehensive analysis, which includes detailed insider trading patterns and financial health metrics in its Pro Research Report.
In other recent news, AN2 Therapeutics has seen a flurry of activity. The company’s Phase 2 trial for its drug candidate EBO, aimed at treating refractory nontuberculous mycobacterial infections, did not show a significant difference in culture conversion rates, leading TD Cowen to downgrade the stock from Buy to Hold. Discussions are ongoing with the FDA on whether to proceed with a Phase 3 trial for EBO. The company is also planning to initiate Phase 1 and Phase 2 trials for treatments of Chagas disease and melioidosis respectively in 2025.
Despite the mixed trial results, AN2 Therapeutics received an extension for its research grant from the Bill & Melinda Gates Foundation. This funding will boost the company’s efforts to develop novel treatments for tuberculosis and malaria using its proprietary boron chemistry platform. In response to a substantial acquisition of its shares by BML Investment Partners, AN2 Therapeutics has implemented a stockholder rights plan to protect against potential coercive takeover tactics.
Evercore ISI has maintained its ’In Line’ rating for AN2 Therapeutics, noting the company’s $118 million in cash reserves as sufficient for reaching the crucial data readout phase. These are the recent developments surrounding AN2 Therapeutics, with the company’s future steps, particularly its engagement with the FDA on the EBO program, being closely watched by investors and analysts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.