AN2 Therapeutics' Q1 net loss narrows as R&D costs fall

AN2 Therapeutics

11/05/2026 21:08

Overview

US biopharma firm's Q1 net loss narrowed to $10.0 mln from $10.6 mln yr/yr

Company's R&D expenses fell due to lower manufacturing and license costs

AN2 raised $40 mln in March, boosting cash position to $85.3 mln at quarter end

Outlook

Company plans to start Phase 2 trial for polycythemia vera in Q3 2026

AN2 expects data from two Chagas disease studies in Q2 2026

Company projects existing cash will sustain operations into 2029

Result Drivers

LOWER R&D EXPENSES - Co said Q1 R&D expenses fell due to decreased chemistry manufacturing and controls (CMC) costs and lower license fees

HIGHER PERSONNEL AND CLINICAL COSTS - R&D cost reductions were partially offset by increased personnel, clinical trial, consulting, and facilities expenses

LOWER INTEREST INCOME - Interest income declined due to lower average cash, cash equivalents and investment balances and lower interest rates

Company press release: ID:nBwchdKRxa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.29
Q1 Net Income
-$10.03 mln
Q1 Income From Operations
-$10.55 mln
Q1 Operating Expenses
$10.55 mln


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 77.6% below its May 8 closing price of $4.46

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)