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Braden Michael Leonard, a ten percent owner of AN2 Therapeutics , Inc. (NASDAQ:ANTX), sold 200,000 shares of the company’s common stock on May 28, 2025. The micro-cap biotech company, currently valued at $32.29 million, has seen its shares decline 22.46% year-to-date. According to InvestingPro analysis, the stock appears undervalued with a FAIR financial health rating. The shares were sold at a price of $1.09 each, amounting to a total transaction value of $218,000. The transaction price sits near the lower end of the stock’s 52-week range of $0.87-$3.07. Following this sale, Leonard, through BML Investment Partners, L.P., holds 3,017,432 shares indirectly. Leonard is the managing member of BML Capital Management, LLC, which serves as the general partner of BML Investment Partners, L.P. He exercises investment and voting control over the shares, although he disclaims beneficial ownership except to the extent of his pecuniary interest. For deeper insights into insider trading patterns and comprehensive analysis, check out the AN2 Therapeutics Pro Research Report, available exclusively on InvestingPro.
In other recent news, AN2 Therapeutics announced that its Phase 3 study for epetraborole in treating MAC lung disease did not meet the primary endpoint, prompting the company to halt its development for this specific indication. Despite this setback, the company remains focused on its boron chemistry platform and is exploring other potential applications, such as treatments for M. abscessus lung disease and melioidosis. JMP Securities responded to the trial results by lowering the price target for AN2 Therapeutics from $5.00 to $2.00 but maintained a Market Outperform rating, citing optimism about the company’s technology platform and pipeline.
AN2 Therapeutics’ financial results for the fourth quarter and full fiscal year 2024 aligned with expectations, ending the year with $89 million in cash reserves. The company projects that these resources will support operations through 2027. AN2 Therapeutics is preparing for the unblinding of its Phase 3 trial results for refractory MAC NTM in the second quarter of 2025, which has the potential to address a significant unmet medical need. Analyst Roy Buchanan from JMP Securities reaffirmed a $5.00 price target and Market Outperform rating, highlighting the promising data from Phase 2 trials and positive feedback from key opinion leaders.
The company is also advancing its oncology efforts, with the first compounds from its boron chemistry platform expected to enter development in the latter half of 2025. AN2 Therapeutics plans to leverage non-dilutive funding to further develop epetraborole for M. abscessus lung disease. Additionally, the company has outlined a strategy to extend its cash runway into 2028 by enhancing operations and seeking funding for key programs.
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