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AN2 Therapeutics
AN2 Therapeutics (ANTX) investor relations material
AN2 Therapeutics Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary17 Mar, 2026
Executive summary
Advanced oral epetraborole into Phase 2 for polycythemia vera, with trial initiation expected in 3Q26 and data readouts as early as 4Q26 and throughout 2027.
Phase 2 investigator-initiated trial of epetraborole in M. abscessus complex lung disease to begin enrollment in 1Q26, topline results anticipated late 2027.
Chagas disease program progressing, with Phase 1 trial of AN2-502998 nearing completion and Phase 2 proof-of-concept study planned for 2026 pending results.
Two boron-based oncology compounds expected to enter development in 2026.
March 2026 private placement extends cash runway into 2029.
Financial highlights
Full year 2025 R&D expenses were $24.8M, down from $40.5M in 2024; Q4 2025 R&D expenses were $6.9M, up from $5.4M in Q4 2024.
Full year 2025 G&A expenses were $13.3M, down from $14.1M in 2024; Q4 2025 G&A expenses were $2.4M, down from $3.2M in Q4 2024.
No restructuring charges in 2025; 2024 full year restructuring charges were $2.2M.
Interest income for 2025 was $2.9M, down from $5.5M in 2024.
Net loss for 2025 was $35.2M, improved from $51.3M in 2024; Q4 2025 net loss was $8.7M, compared to $7.5M in Q4 2024.
Cash, cash equivalents, and investments totaled $60.0M at year-end 2025.
Outlook and guidance
Three Phase 2 studies expected to initiate in 2026: polycythemia vera, M. abscessus lung disease, and Chagas disease.
Initial clinical data from Chagas disease Phase 1 trial expected in 1Q26; Phase 2 to follow pending results.
Oncology pipeline to advance two candidates into development in 2026.
Cash runway projected to sustain operations into 2029 under current plan.
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Latest events from AN2 Therapeutics
- Epetraborole enters Phase 2 for PV, targeting oral hematocrit control and rapid clinical progress.ANTX
Leerink Global Healthcare Conference 202610 Mar 2026 - Epetraborole enters Phase 2 for PV, aiming for early, durable hematocrit control in 2026.ANTXStatus update4 Mar 2026
- Phase III NTM lung data and new infectious disease trials mark major 2024 milestones.ANTXTD Cowen 45th Annual Healthcare Conference3 Feb 2026
- Phase III data for epetraborole in severe NTM lung disease expected Q2, with strong pipeline and cash runway.ANTXLeerink’s Global Healthcare Conference 202526 Dec 2025
- Positive clinical signals and a strong pipeline position the company for key regulatory milestones.ANTXOppenheimer 35th Annual Healthcare Life Sciences Conference 202524 Dec 2025
- Oncology and infectious disease programs advance with key data and milestones expected in 2026.ANTXEvercore ISI 8th Annual HealthCONx Conference8 Dec 2025
- Stockholders will vote on director elections and auditor ratification at the May 2025 meeting.ANTXProxy Filing2 Dec 2025
- Director elections and auditor ratification headline a proxy focused on governance and compensation.ANTXProxy Filing2 Dec 2025
- Advancing novel boron-based drugs for Chagas, melioidosis, abscessus, and oncology targets.ANTXThe Citizens JMP Life Sciences Conference 202525 Nov 2025
Next AN2 Therapeutics earnings date
Q1 202613 May, 2026
AN2 Therapeutics
Next AN2 Therapeutics earnings date
Q1 202613 May, 2026
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Amina0781App Store
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@theshortbearx.com
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