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About AN2 Therapeutics
From its filings with the US Securities and Exchange Commission
AN2 Therapeutics is based in Menlo Park, California and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker ANTX. The SEC classifies its business as pharmaceutical preparations. In the fiscal year to 31 December 2025, it reported a net loss of $35.2m. At that date it held total assets of $62.0m and shareholders' equity of $53.1m.
We are a clinical stage biopharmaceutical company focused on the discovery and development of novel small-molecule therapeutics derived from our boron chemistry platform. Our development pipeline spans hematologic diseases, infectious diseases, and oncology with three Phase 2 studies expected to initiate in 2026, two preclinical candidates, as well as advanced research programs focused on targets in oncology, bone disorders, and infectious diseases. We are committed to delivering high-impact drugs to patients that address critical unmet needs and improve health outcomes.
In March 2026, we announced our plan to expand the development of oral epetraborole into a Phase 2 proof-of-concept clinical study in adults with phlebotomy-dependent polycythemia vera (“PV”). PV is a blood cancer characterized by overproduction of red blood cells in the bone marrow. This overproduction increases hematocrit, which can lead to serious medical complications including arterial and venous thromboembolic events. If untreated, PV can be life-threatening. Despite available therapies, many patients experience uncontrolled hematocrit levels and persistent symptom burden, requiring long-term management to maintain adequate disease control. PV is estimated to affect approximately 155,000 people in the U.S.
Quoted from its 10-K, filed 17 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Health Care
- Industry
- Pharmaceuticals
- Listed since
- 25 Mar 2022
- Employees
- 21
- Website
- an2therapeutics.com ↗
- Head office
- 1300 EL CAMINO REAL, SUITE 100, MENLO PARK, CA, 94025
- Incorporated in
- DE
- Classification
- Pharmaceutical Preparations
- Filer status
- Non-accelerated filer<br>Smaller reporting company<br>Emerging growth company
Leadership
Pay as last reported
- Mr. Eric EasomChairman of the Board, President, Chief Executive Officer, since 2019$1.7m
- Ms. Lucy DayChief Financial Officer$812,699
- Mr. Joshua EizenChief Operating Officer, Chief Legal Officer, Corporate Secretary$1.1m
- Dr. Sanjay ChandaChief Development Officer
- Dr. Stephen PriorChief Strategy Officer
- Ms. Margaret FitzpatrickLead Independent Director$159,082
- Mr. Kabeer AzizIndependent Director$148,836
- Dr. Gilbert MarksIndependent Director$149,865
- Ms. Patricia MartinIndependent Director$159,169
- Dr. Rob ReadnourIndependent Director$150,151
- Dr. Melvin SpigelmanIndependent Director$147,014
- Ms. Stephanie WongIndependent Director$158,514
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 52
- Environment
- 55
- Social
- 63
- Governance
- 38
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- AN2 Therapeutics focuses on rare infectious diseases with high unmet needs in the Health Care sector.
- Epetraborole is a once-daily oral treatment for NTM lung disease under pivotal Phase II/III trials.
- The company's boron chemistry core technology enables antimycobacterial activity through protein synthesis inhibition.
Weaknesses
- AN2 Therapeutics has only 21 employees, which may limit operational capacity.
- The company's initial product candidate is in Phase II/III clinical trials with no approved products yet.
- AN2 Therapeutics is a newly listed company since March 2022 with limited market presence.
Opportunities
- The global market for NTM lung disease treatments is growing with high unmet needs.
- AN2 Therapeutics can expand its boron chemistry technology to other infectious disease areas.
- The company's focus on rare diseases may attract partnerships with larger pharmaceutical firms.
Threats
- The development of epetraborole faces clinical trial risks and potential regulatory hurdles.
- Competition in the rare disease space is increasing with other biotech companies targeting similar indications.
- The company's small size may hinder its ability to secure sufficient funding for late-stage trials.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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