Business
AN2 Therapeutics Reports First Quarter 2023 Financial Results and Recent Highlights
Nearly 80 clinical sites active in pivotal Phase 2/3 trial of epetraborole in treatment-refractory Mycobacterium avium complex (MAC) lung disease MENLO PARK,
About this update from An2 Therapeutics, Inc.
[{"type":"text","content":"\n\nNearly 80 clinical sites active in pivotal Phase 2/3 trial of epetraborole in treatment-refractory Mycobacterium avium complex (MAC) lung disease\n\n\n\n MENLO PARK, Calif.--(BUSINESS WIRE)--\nAN2 Therapeutics, Inc. (Nasdaq: ANTX), a clinical-stage biopharmaceutical company focused on developing treatments for rare, chronic, and serious infectious diseases with high unmet needs, today reported financial results for the quarter ended March 31, 2023.\n\n\n“In the first quarter we continued to advance our pivotal Phase 2/3 trial evaluating epetraborole for treatment-refractory MAC lung disease with a total of nearly 80 clinical sites active worldwide. We are pleased with the momentum we’re seeing in the Asia-Pacific region, particularly at new sites in Japan, South Korea and Australia,” said Eric Easom, Co-Founder, President and Chief Executive Officer. “MAC lung disease, the most common form of nontuberculous mycobacteria, or NTM, lung disease, is a rare, chronic, and progressive disease which leads to irreversible lung disease and can be fatal. We believe epetraborole, as a once-daily, oral treatment with a novel mechanism of action, has the potential to provide significant benefit to patients that are in need of new treatment options.”\n\n\nFirst Quarter & Recent Business Updates:\n\n\nAdvanced Epetraborole Pivotal Phase 2/3 Clinical Study.\n\n\nThe Company is currently enrolling its Phase 2/3 pivotal trial evaluating once-daily, oral epetraborole for treatment-refractory MAC lung disease at nearly 80 clinical sites. AN2 expects to complete enrollment in the Phase 2 portion of the pivotal Phase 2/3 clinical trial in approximately mid-2023 and plans to seamlessly begin enrollment of the Phase 3 portion of the trial immediately thereafter. The Company expects to announce top-line data for each of the Phase 2 and Phase 3 portions of the trial approximately nine months after the completion of enrollment in each respective portion of the trial.\n\n\nSelected First Quarter Financial Results\n\n\n\nResearch and Development (R&D) Expenses: R&D expenses for the three months ended March 31, 2023, were $12.0 million, compared to $5.6 million in the prior year. R&D expenses increased when compared to the same period during 2022 due to increased personnel-related expenses, costs related to chemistry manufacturing and controls, research s...