AN2 Therapeutics Inc. (ANTX) currently trades around $10, having lost more than 50% from its all-time high of $23.58 reached last May.
This clinical-stage biopharmaceutical company is developing treatments for rare, chronic, and serious infectious diseases with high unmet needs. Its lead drug candidate is Epetraborole, a novel, once-daily, orally administered treatment for patients with non-tuberculous mycobacterial (NTM) lung disease, with an initial focus on treatment-refractory Mycobacterium avium complex (MAC) lung disease.
NTM is a group of over 200 species of mycobacteria commonly found in water and soil, and unlike tuberculosis, it is not transmitted person-to-person. About 50,000 to 90,000 people with NTM infections in the United States have NTM lung disease, according to the Chest Foundation.
Epetraborole is under a pivotal phase II/III clinical trial for treatment-refractory MAC lung disease, dubbed EBO-301. It is anticipated that the enrolment for the phase II part of the trial will conclude by mid-2023, followed promptly by the commencement of enrolment for the phase III part.
Epetraborole carries the Qualified Infectious Disease, Fast Track, and orphan drug designations in U.S.
Insmed’s Arikayce (Inhaled liposomal amikacin) is the first and only FDA-approved treatment for Mycobacterium avium complex (MAC) lung disease. However, this drug is associated with a high discontinuation rate and increased adverse events. Net product revenue from sales of Arikayce totaled $245.4 million in full-year 2022 compared to $188.5 million in the prior year.
The company made its debut on the Nasdaq Global Select Market on March 25, 2022, offering its shares at a price of $15 each.
ANTX has thus far hit a low of $6.88 and a high of $23.58. The stock closed Thursday’s trading at $10.84, up 11.07%.
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