AN2 Therapeutics to pause enrollment in lung disease study, shares plummet

AN2 Therapeutics

12/02/2024 15:51

(Updates)
    ** Shares of drug developer AN2 Therapeutics  ANTX.O  fall
74.5% to over eight-month low of $5.09 
    ** Co has decided to voluntarily pause enrollment in a
late-stage portion of a mid-to-late stage study testing its
experimental drug to treat a type of bacterial lung infection,
pending further data review
    ** The voluntary pause was after the analysis of the ongoing
mid-stage study, which showed potentially lower-than-expected
efficacy
    ** The decision was not due to safety concerns - ANTX
    ** Co continues to expect to announce data from the
mid-stage study in summer 2024
    ** The drug epetraborole, is being studied as a once-daily
oral drug to treat a lung disease called treatment-refractory
mycobacterium avium complex, caused by bacterial infection
    ** Up to last close, stock was up ~40% in the last 12 months

 (Reporting by Sriparna Roy and Sneha S K in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))