)
Overview
<ul>
<li>US biopharmaceutical firm’s Q4 net loss widened yr/yr amid higher operating expenses</li>
<li>Company secured $40 mln private placement in March 2026, extending cash runway into 2029</li>
<li>AN2 advancing Phase 2 trials for polycythemia vera, M. abscessus lung disease, and Chagas disease</li>
</ul>
Outlook
<ul>
<li>Company expects to initiate three Phase 2 studies in 2026, with data readouts into 2027</li>
<li>AN2 plans to advance two oncology candidates into development in 2026</li>
<li>Company projects cash runway into 2029 under current operating plan</li>
</ul>
Result Drivers
<ul>
<li>HIGHER R&amp;D SPENDING - Q4 R&amp;D expenses rose yr/yr due to increased personnel, preclinical, research, chemistry manufacturing, and facilities costs, partially offset by lower clinical trial expenses after EBO-301 termination</li>
<li>LOWER G&amp;A EXPENSES - Q4 G&amp;A expenses fell yr/yr due to decreased professional and personnel-related costs</li>
<li>DECLINING INTEREST INCOME - Q4 interest income decreased yr/yr due to lower cash, cash equivalents and investment balances, and lower interest rates Company press release:</li>
</ul>
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
<h3>Q4 EPS -$0.29</h3>
Q4 Net -$8.71
Income mln
<h3>Q4 -$9.32</h3>
Income mln
From
Operatio
ns
<h3>Q4 $9.32</h3>
Operatin mln
g
Expenses
Analyst Coverage
<ul>
<li>The one available analyst rating on the shares is “hold”</li>
<li>The average consensus recommendation for the biotechnology &amp; medical research peer group is “buy”</li>
<li>Wall Street’s median 12-month price target for AN2 Therapeutics Inc is $1.00, about 78.7% below its March 16 closing price of $4.69 For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)</li>
</ul>

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AN2 Therapeutics' Q4 net loss widens on higher R&D expenses