Business
AN2 Therapeutics Reports Second Quarter 2023 Financial Results and Recent Highlights
Sufficient patients in screening expected to complete enrollment in Phase 2 portion of pivotal Phase 2/3 study of epetraborole in treatment-refractory
About this update from An2 Therapeutics, Inc.
[{"type":"text","content":"\nSufficient patients in screening expected to complete enrollment in Phase 2 portion of pivotal Phase 2/3 study of epetraborole in treatment-refractory Mycobacterium avium complex (MAC) lung disease\n\n\nExpected initiation of Phase 3 portion of pivotal Phase 2/3 study in September\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 June 30, 2023.\n\n\n“We’re pleased with the accelerated pace of enrollment in our pivotal Phase 2/3 study evaluating epetraborole for treatment-refractory MAC lung disease and believe we currently have sufficient patients in screening to initiate Phase 3 next month, immediately after we complete enrollment in the Phase 2 portion of the study. Continued momentum in the Asia-Pacific region coupled with the modifications we made to our clinical trial protocol had a positive impact on study enrollment,” said Eric Easom, Co-Founder, President and Chief Executive Officer. “With over $95 million in cash and cash equivalents, including proceeds from the at-the-market transaction closed during the quarter, we believe we are capitalized through the expected data readout of the Phase 2 portion of our pivotal trial and through the end of 2024. We remain committed to our vision of developing therapeutics to treat rare, chronic, and serious infectious diseases in areas of high unmet medical need.”\n\n\nSecond 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 over 90 active clinical sites across the U.S., Japan, South Korea, and Australia. AN2 expects to complete enrollment in the Phase 2 portion of the study and to begin Phase 3 in September. The Company expects to announce top-line data from the Phase 2 portion of the study in summer 2024.\n\n\nSelected Second Quarter Financial Results\n\n\n\nResearch and Development (R&D) Expenses: R&D expenses increased for the three months ended June 30, 2023, compared to the same period during 2022 due to increased clinical trial expenses, personn...