---
title: "AN2 Therapeutics' Q4 net loss widens on higher R&D expenses"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/279483779.md"
datetime: "2026-03-17T20:09:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/279483779.md)
  - [en](https://longbridge.com/en/news/279483779.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/279483779.md)
---

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

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Overview

-   US biopharmaceutical firm’s Q4 net loss widened yr/yr amid higher operating expenses
-   Company secured $40 mln private placement in March 2026, extending cash runway into 2029
-   AN2 advancing Phase 2 trials for polycythemia vera, M. abscessus lung disease, and Chagas disease

Outlook

-   Company expects to initiate three Phase 2 studies in 2026, with data readouts into 2027
-   AN2 plans to advance two oncology candidates into development in 2026
-   Company projects cash runway into 2029 under current operating plan

Result Drivers

-   HIGHER R&D SPENDING - Q4 R&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
-   LOWER G&A EXPENSES - Q4 G&A expenses fell yr/yr due to decreased professional and personnel-related costs
-   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:

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

### Q4 EPS -$0.29

Q4 Net -$8.71

Income mln

### Q4 -$9.32

Income mln

From

Operatio

ns

### Q4 $9.32

Operatin mln

g

Expenses

Analyst Coverage

-   The one available analyst rating on the shares is “hold”
-   The average consensus recommendation for the biotechnology & medical research peer group is “buy”
-   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.)

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