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Business Wire
3 days ago
- Business
- Business Wire
AN2 Therapeutics Reports Second Quarter 2025 Financial Results and Recent Business and Scientific Highlights
MENLO PARK, Calif.--(BUSINESS WIRE)--AN2 Therapeutics, Inc. (Nasdaq: ANTX), a biopharmaceutical company focused on discovering and developing novel small molecule therapeutics derived from its boron chemistry platform, today reported financial results for the second quarter ended June 30, 2025. 'We saw continued momentum this quarter across our boron chemistry pipeline as we look to develop high-impact drugs that address serious and overlooked conditions. In our Chagas disease program, we recently dosed the first Phase 1 cohort and announced a collaboration with the Drugs for Neglected Diseases initiative that will rapidly advance preparations for our Phase 2 study and allow us to maintain critical investments in our other programs. In melioidosis, observational data shared this quarter underscore the acute lethality of this potential biothreat, emphasizing its potential danger to homeland security and to U.S. troops serving abroad. And in NTM, we presented preclinical data highlighting the therapeutic potential of epetraborole as a once daily oral treatment against M. abscessus, a disease with an 8-year all-cause mortality rate of 45% and burdensome IV treatments that are not FDA approved for the disease. We are actively exploring plans to initiate a proof-of-concept trial in M. abscessus and will provide an update in the coming months,' said Eric Easom, Co-Founder, Chairman, President, and CEO of AN2 Therapeutics. Easom continued: 'We are also excited about recent progress in our two oncology programs generated from our boron chemistry platform, where we expect to have two development candidates within the next 12 months—a 3rd generation wild-type sparing, pan mutant-inhibitor of PI3Kα and an ENPP1 inhibitor. We see ENPP1 as an emerging immuno-oncology target with significant market potential due to its ability to enable the host immune system by turning 'cold' tumors 'hot' and halt tumor metastasis. We believe boron chemistry may offer potential competitive advantages against these targets.' Second Quarter & Recent Business Updates: Chagas Disease Commenced dosing in Phase 1 FIH clinical trial of oral AN2-502998 In August, the Company announced that it has completed dosing the first single ascending dose cohort in a Phase 1 first in human clinical trial evaluating the safety, tolerability, and pharmacokinetics of oral AN2-502998 in healthy volunteers. Oral AN2-502998 is under development for chronic Chagas disease, an infectious disease caused by the parasite Trypanosoma cruzi (T. cruzi), which affects an estimated 6-7 million people worldwide, including approximately 300,000 in the U.S. and over 100,000 in Europe. Parallel planning for a Phase 2 proof-of-concept study in patients with chronic Chagas disease is underway, and the Company expects to initiate this Phase 2 study in 2026. There are no FDA approved treatments for adults with chronic Chagas disease. The Company estimates peak annual sales potential of $1 billion, and priority review voucher eligibility if approved. Collaboration with DNDi for AN2-502998 clinical development in chronic Chagas disease In July 2025, the Company announced a collaboration with the Drugs for Neglected Diseases initiative (DNDi) to advance the clinical development of AN2's oral drug candidate AN2-502998. The collaboration provides AN2 with access to DNDi's extensive clinical trial network and expertise in Chagas disease to rapidly advance Phase 2 planning. The operational efficiencies generated from this collaboration will allow the Company to conduct a cost-efficient Phase 2 trial and preserve capital for other critical pipeline programs. Melioidosis Reported key findings from 200-patient observational study Melioidosis is a highly lethal bacterial infection caused by Burkholderia pseudomallei and is recognized by the Centers for Disease Control and Prevention (CDC) as a bioterrorism agent, underscoring its potential use as a biological weapon and its ability to cause severe disease in civilian and military populations. It is endemic in warm tropical regions of the world including areas of the Mississippi Gulf Coast, Puerto Rico and the U.S. Virgin Islands and is a Nationally Notifiable Disease, designated by the CDC for monitoring, controlling and preventing serious U.S. public health disease. In June, the Company announced key insights from its 200-patient observational study in acute melioidosis. Data from the study will inform and help optimize the design of a Phase 2 trial. The study, conducted in acute hospital settings, evaluated patients receiving standard of care antibiotics, IV meropenem or ceftazidime, tracking patients while in hospital and at 28 and 90 days. A death rate of nearly 40% (by day 90) was observed among confirmed melioidosis cases. Principal investigators observed that approximately 25% of screened patients died in the short period (~3-4 days) before a definitive diagnosis of infection was confirmed and enrollment completed. These deaths were not included in the topline mortality rate. These mortality findings highlight the serious impact of melioidosis - even with current standard of care treatment - the threat it poses as a potential bioterrorism agent, and the critical need for better treatment options. Discussions are underway with the U.S. government to fund Phase 2 development of epetraborole in acute melioidosis. If approved for the treatment of melioidosis, the Company plans to seek a priority review voucher (through the medical countermeasure pathway) and could generate revenue from U.S. and other governmental stockpiling, as well as from use as treatment in disease-endemic countries, including the U.S. Nontuberculous Mycobacteria (NTM) Lung Disease Caused by M. abscessus Presented data demonstrating epetraborole's potent in vitro and in vivo activity in M. abscessus at the Nontuberculous Mycobacteria Conference at Colorado State University In May 2025, the Company presented a poster at the Nontuberculous Mycobacteria Conference at the Colorado State University highlighting epetraborole's potent in vivo activity against M. abscessus. The compound demonstrated an MIC90 that is 256-fold more potent than what was observed in the Phase 2/3 treatment-refractory NTM MAC study, reinforcing its potential as a candidate for this high-mortality condition. M. abscessus has an estimated all-cause 8-year mortality of 45% and current treatments involve burdensome IV therapies that lack FDA approval for the condition. The Company is evaluating the potential for a proof-of-concept study in M. abscessus and will provide an update on further development in the coming months. Boron Chemistry Pipeline Continuing to advance boron chemistry compounds in oncology The Company is pursuing a number of oncology targets where we believe boron chemistry offers a competitive advantage in terms of binding-site differentiation, pharmacodynamics, drug-like properties and IP, including initially ENPP1 and PI3Kα. The unique binding modes of boron-containing compounds enable the discovery of inhibitors with high ligand efficiency against targets considered undruggable or difficult to access with traditional chemistry approaches. Boron chemistry has produced first-in-class molecules against a number of targets including CPSF3 (AN2-502998 and acoziborole) and LeuRS (epetraborole, ganfeborole and tavaborole) as well as other important FDA-approved molecules including Velcade for oncology and multiple recent beta lactamase inhibitors to address multi-drug resistant bacteria. The Company has discovered preclinical compounds with profiles that are sub-nanomolar, highly selective and have excellent oral pharmacokinetics. The Company anticipates advancing the first oncology compound into development later this year with potential clinical proof of concept data within the Company's current cash runway. The Company expects to advance its second oncology compound into development in the first half of 2026. Global Health Through non-dilutive funding, the Company continues its efforts to tackle global health diseases, including tuberculosis and malaria, with projects that are currently funded by a grant from the Gates Foundation. Selected Second Quarter Financial Results Research and Development (R&D) Expenses: R&D expenses for the second quarter of 2025 were $3.2 million, compared to $12.1 million for the same period during 2024 due to decreased clinical trial expenses, chemistry manufacturing and controls expenses, personnel-related expenses, consulting and outside services and other expenses, primarily related to termination of the EBO-301 clinical study and corporate restructuring activities in August 2024, partially offset by increases in preclinical and research studies and expenses related to start-up activities of the Phase 1 trial in Chagas disease. General and Administrative (G&A) Expenses: G&A expenses for the second quarter of 2025 were $4.0 million, compared to $3.7 million for the same period during 2024 due to increased professional and outside services expenses. Interest Income: Interest income for the second quarter of 2025 was $0.8 million, compared to $1.4 million for the same period in 2024 due to lower cash, cash equivalents and investment balances and lower interest rates in 2025 as compared to 2024. Net loss: Net loss for the second quarter of 2025 was $6.5 million, compared to $14.4 million for the same period during 2024. Cash Position: The Company had cash, cash equivalents and investments of $71.2 million at June 30, 2025. The Company projects that existing cash, cash equivalents and investments will sustain operations into 2028 under the current operating plan. About AN2 Therapeutics, Inc. AN2 Therapeutics, Inc. is a biopharmaceutical company focused on discovering and developing novel small molecule therapeutics derived from its boron chemistry platform. AN2 has a pipeline of boron-based compounds in development for Chagas disease, melioidosis, and NTM lung disease caused by M. abscessus, along with programs focused on targets in oncology and infectious diseases. We are committed to delivering high-impact drugs to patients that address critical unmet needs and improve health outcomes. For more information, please visit our website at Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding: the potential and competitive advantage of the Company's boron chemistry platform; high-impact nature of the Company's clinical programs; the Company's approach to capital allocation and the availability of and plans to use non-dilutive funding, including the possibility that the U.S. government will not fund the Phase 2 and other future melioidosis trials; expectations regarding the Company's clinical trials, including initiation, enrollment, conduct and the timing of data and related announcements; the ability of non-human primate models to de-risk translation to human efficacy; market and sales potential; priority review voucher eligibility and registrational pathways; cash runway; continued global health programs; and other statements that are not historical fact. These statements are based on AN2's current estimates, expectations, plans, objectives and intentions, are not guarantees of future performance and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, but are not limited to, risks and uncertainties related to: AN2's ability to implement its plans for its internal boron chemistry platform and pipeline programs; timely enrollment of patients in AN2's clinical trials; disruptions at the FDA and other government agencies caused by funding shortages, staff reductions and statutory, regulatory and policy changes; AN2's ability to procure sufficient supply of its product candidates for its clinical trials; the potential for results from clinical trials to differ from preclinical, early clinical, preliminary or expected results, the ability of particular preclinical models in non-human primates to predict safety and efficacy in humans; significant adverse events, toxicities or other undesirable side effects associated with AN2's product candidates; the significant uncertainty associated with AN2's product candidates ever receiving any regulatory approvals; continued government funding of AN2's development program for melioidosis; AN2's ability to obtain, maintain or protect intellectual property rights related to its current and future product candidates; implementation of AN2's strategic plans for its business and product candidates; the sufficiency of AN2's capital resources and need for additional capital to achieve its goals; global macroeconomic conditions and global conflicts and other risks, including those described under the heading 'Risk Factors' in AN2's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed with the U.S. Securities and Exchange Commission (SEC). These filings, when made, are available on the investor relations section of AN2's website at and on the SEC's website at Forward-looking statements contained in this press release are made as of this date, and AN2 undertakes no duty to update such information except as required under applicable law. AN2 THERAPEUTICS, INC. CONDENSED BALANCE SHEETS (in thousands) June 30, 2025 (unaudited) December 31, 2024 Assets Current assets: Cash and cash equivalents $ 18,220 $ 21,351 Short-term investments 44,696 62,267 Prepaid expenses and other current assets 4,608 2,644 Long-term investments 8,301 5,021 Other assets, long-term — 804 Total assets $ 75,825 $ 92,087 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 2,113 $ 3,317 Other current liabilities 4,870 6,921 Total liabilities 6,983 10,238 Stockholders' equity 68,842 81,849 Total liabilities and stockholders' equity $ 75,825 $ 92,087 Expand
UPI
06-08-2025
- Health
- UPI
Colombia pushes for pharmaceutical self-sufficiency
Through investments in science, research and development, Colombia aims to ensure access to essential treatments for its population, signaling a structural shift in its public health and trade policy. File Photo by Allison Dinner/EPA Aug. 6 (UPI) -- Driven by lessons from the pandemic and a reliance on imports -- more than $2.16 billion in packaged medicines in 2023, most from the United States -- Colombia has launched a national strategy to regain control of its pharmaceutical supply chain. Through investments in science, research and development, the country aims to ensure access to essential treatments for its population, signaling a structural shift in its public health and trade policy. This dependence extends beyond finished products. Colombia's pharmaceutical industry also relies heavily on imported active ingredients and other key inputs to manufacture its own medicines. The United States is an important player supplying these components. Central to the effort is the Health Research Fund, a program led by the Ministry of Science, Technology and Innovation. Since 2023, the fund has invested nearly $2 million to expand domestic production of essential medicines. The initiative, developed in partnership with the Ministry of Health and the University of Antioquia, aims to reduce reliance on foreign inputs and strengthen Colombia's scientific and technological sovereignty. The first major success of the initiative was the development of chloroquine, a key drug used to treat malaria. After a $500,000 investment in 2023, the medication has been approved by Colombia's National Food and Drug Surveillance Institute, or INVIMA, and is ready for large-scale production. The milestone clears the way for producing other essential medicines for the country's most vulnerable populations. The scientific community is now awaiting INVIMA approval for praziquantel, a critical antiparasitic drug, expected by the end of the month. This week, it was announced that regulatory procedures are being finalized for the production of two additional antiparasitic drugs: niclosamide and benznidazole. The latter is especially critical as the primary treatment for Chagas disease, an endemic illness that affects thousands of Colombians. Colombia's path toward pharmaceutical self-sufficiency is a long-term effort requiring coordination among the government, academia and industry. The Ministry of Science's investment is not only supporting the development of essential medicines, but also strengthening research capacity, laboratory infrastructure and training specialized personnel. The Colombian Ministry of Science said in a statement that having a sterile filtration line "will make it possible in the long term to expand the portfolio of sterile compounded medications, gradually incorporating other essential treatments currently facing shortages in the Colombian health system." Science Minister Yesenia Olaya told Colombian broadcaster Caracol: "This public-private collaboration model is crucial to ensuring that science and technology translate into concrete solutions for the country's health problems. "The final goal is clear: to guarantee that Colombians, especially those in the most remote and low-resource areas, have timely access to the treatments they need without depending on the volatility of the global market."
India.com
11-06-2025
- Health
- India.com
Meet World's Most Dangerous Animal, It's NOT A Tiger Or A Lion; Kills 725,000 Annually; One Bite Can Be Fatal... Check Top 10 List Of Animals Deadliest To Humans
photoDetails english Updated:Jun 11, 2025, 07:00 AM IST Meet World's Most Dangerous Animal 1 / 11 Meet World's Most Dangerous Animal: Today, let's check out top 10 list of Animals Deadliest To Humans. You will be surprised to know which one tops the list based on several reportrs online. Take a small guess? Hint: It's not who you think it is! Mosquitos (Culicidae family) 725,000 – 1,000,000 deaths per year 2 / 11 According to Discover Wildlife, as far as number of humans killed every year, mosquitos by far hold the record, being responsible for between 725,000 and 1,000,000 deaths annually. Can you imagine this tiny insect being labelled as the most dangerous animal ever! Well, that's why truth is stranger than fiction. Mosquitoes are vectors for diseases like malaria, dengue fever, yellow fever, and Zika virus, which collectively cause millions of deaths and illnesses worldwide. Humans (homicides only) - kills 400,000 humans per year 3 / 11 Yes! Hard to digest but besides the deadly mosquitos, the most deadly animal is ourselves - Humans. Homicides account for an estimated 431,000 human deaths a year, making us by far the deadliest mammals, as per Discover Wildlife. Snakes - kills 138,000 humans per year 4 / 11 The most common human deaths from snakes occur from venomous bites, however, with the lucky left dealing with amputations and 'other permanent disabilities' according to the WHO. Dogs (rabies) - kills 59,000 per year 5 / 11 Man's best friend can be a deadly enemy too. BBC'S Science Focus states World Health Organisation (WHO) finding reading, 'dogs are the main source of human rabies deaths, contributing up to 99 per cent of all rabies transmissions to humans.' It is transmitted by saliva via bites, scratches, and direct contact with infected areas on the dog. Assassin Bugs (Chagas disease) - kills 10,000 humans per year 6 / 11 Assassin bugs are a primary spreader of the deadly Chagas disease. A terrible disease that attacks the heart, digestive system, and nervous system according to the Pan American Health Organization (PAHO). It can be transmitted from mother to baby through the placenta during pregnancy. Scorpions - kills 3,300 humans per year 7 / 11 With over 2,600 species of the arachnid, only around 25 carry a powerful enough toxin to kill humans. Crocodiles - kills 1,000 humans per year 8 / 11 The ferocious animal causes up to 1,000 reported fatalities a year, as per Science Focus. Elephants - kills 600 humans per year 9 / 11 Elephants typically kill humans by trampling. One blow from an elephant is enough to kill, and around 500 deaths a year are caused in this way. Hippos - kills 500 humans a year 10 / 11 Hippos kill an estimated 500 deaths annually (as compared to only 22 for lions), hippos are deadly land mammals. Lions - kills 200 humans per year 11 / 11 The most deadly-looking king of jungle - Lions stalk in small groups, circling around their prey before going in for the kill. As per BBC Science Focus, nearly 200 humans are killed every year by the big cats.
Business Wire
13-05-2025
- Business
- Business Wire
AN2 Therapeutics Reports First Quarter 2025 Financial Results and Recent Business and Scientific Highlights
MENLO PARK, Calif.--(BUSINESS WIRE)--AN2 Therapeutics, Inc. (Nasdaq: ANTX), a biopharmaceutical company focused on discovering and developing novel small molecule therapeutics derived from its boron chemistry platform, today reported financial results for the first quarter ended March 31, 2025. 'As we look ahead to the remainder of 2025, we are poised to advance our pipeline leveraging our boron chemistry platform, which has the potential to address serious unmet needs of patients. We have high-impact clinical programs for Chagas disease and melioidosis, enabling data for potential development of epetraborole in NTM lung disease caused by M. abscessus, and an emerging portfolio of oncology programs that includes ENPP1 and PI3Kα for solid tumor indications, where our boron chemistry platform has potential for best-in-class molecules,' said Eric Easom, Co-founder, Chairman, President and CEO. 'We remain committed to maintaining a disciplined approach to capital allocation, including using non-dilutive funding to leverage our infrastructure and capabilities for generating near and long-term growth for our shareholders with multiple pathways to success.' First Quarter & Recent Business Updates: Chagas Disease The Company has initiated start up activities for a Phase 1 first in human clinical study of its product candidate, AN2-502998, which has curative potential for chronic Chagas disease, and expects to complete this trial in the second half of 2025. Chagas is an infectious disease caused by the parasite Trypanosoma cruzi (T. cruzi), which affects an estimated 6-7 million people worldwide, including approximately 300,000 in the U.S. Left untreated, chronic Chagas disease can result in a lifelong infection that silently damages the heart and digestive system, potentially resulting in heart failure, stroke, or sudden death. AN2-502998 is a boron-based small molecule therapeutic candidate with the same mechanism of action (CPSF3) as acoziborole, a related benzoxaborole that demonstrated ~95% cure rate in a Phase 2/3 trial (DNDi/Sanofi) after a single oral dose for human African trypanosomiasis (sleeping sickness), a related disease caused by trypanosome parasites. AN2-502998 is the only compound, of which the Company is aware, to have demonstrated curative activity in non-human primates (NHPs) with long-term, naturally acquired, chronic infection of diverse T. cruzi genetic types. NHPs naturally acquire T. cruzi infection and develop chronic disease comparable to chronic Chagas disease in humans, which the Company believes offers a unique opportunity for de-risking translation to human efficacy versus other experimental infection models. There are no FDA approved treatments for chronic Chagas disease in adults. The Company estimates peak annual sales potential of $1 billion and priority review voucher eligibility, if approved. Melioidosis The Company plans to initiate a Phase 2 study with epetraborole in melioidosis, a potentially lethal bacterial infection caused by Burkholderia pseudomallei and a U.S. national security threat, with a goal of significantly reducing the 3-month mortality rate of ~40% observed in an open-label standard-of-care observational trial expected to report out in the second quarter of 2025. If approved for the treatment of melioidosis, the Company plans to seek a priority review voucher and could generate revenue from U.S. and other governmental stockpiling, as well as from use as treatment in disease-endemic countries, including the U.S. Non-Tuberculous Mycobacteria (NTM) Lung Disease Caused by M. abscessus Given the extensive Phase 2/3 efficacy data from the EBO-301 study, the Company plans to use non-dilutive funding to help advance epetraborole development for the treatment of NTM lung disease caused by M. abscessus, where there is a high unmet need for oral drugs vs. the current burdensome intravenous regimens. Epetraborole's oral profile, first-in-class novel mechanism of action (LeuRS), and enabling in vitro and in vivo data, as well as a 256-fold in vitro potency advantage over Mycobacterium avium complex (MAC) in the recent treatment-refractory MAC Phase 3 trial, suggest that epetraborole has the potential to address this high unmet need. There are over 50,000 patients in the U.S., Japan and Europe who could benefit from a novel oral treatment. Boron Chemistry Pipeline The Company is pursuing a number of oncology targets where boron chemistry offers a competitive advantage in terms of binding-site differentiation, pharmacodynamics, drug-like properties and intellectual property. The unique binding modes of boron-containing compounds enable the discovery of inhibitors with high ligand efficiency against targets considered undruggable or difficult to access with traditional chemistry approaches. Boron chemistry has produced first-in-class molecules against a number of targets including a proteasome inhibitor (Velcade), CPSF3 (AN2-502998 and acoziborole), and LeuRS (epetraborole, GSK656/AN10070 and tavaborole). The Company has discovered preclinical compounds with profiles that are sub-nanomolar, highly selective and have excellent oral pharmacokinetics. AN2 anticipates advancing the first oncology compound(s) into development later this year with potential clinical proof of concept within the Company's current cash runway. Global Health The Company will continue its efforts to tackle global health disease through non-dilutive funding, including tuberculosis and malaria, currently being funded by the Gates Foundation. Selected First Quarter Financial Results Research and Development (R&D) Expenses: R&D expenses for the first quarter of 2025 were $7.7 million, compared to $14.7 million for the same period during 2024 due to decreased clinical trial expenses, personnel-related expenses, consulting and outside services and other costs, primarily related to termination of the EBO-301 clinical study and corporate restructuring activities, partially offset by increases in preclinical and research study expenses and chemistry manufacturing and controls expenses. General and Administrative (G&A) Expenses: G&A expenses for the first quarter of 2025 were $3.8 million, compared to $3.6 million for the same period during 2024 due to increased professional services expenses, partially offset by decreased consulting and outside services and personnel-related expenses. Interest Income: Interest income for the first quarter of 2025 was $0.9 million, compared to $1.7 million for the same period in 2024 due to lower cash, cash equivalents and investment balances and lower interest rates in 2025 as compared to 2024. Net loss: Net loss for the first quarter of 2025 was $10.6 million, compared to $16.6 million for the same period during 2024. Cash Position: The Company had cash, cash equivalents and investments of $78.5 million at March 31, 2025. The Company projects that existing cash and cash equivalents under our current plan will sustain operations into 2028, extending from our previous guidance through 2027. About AN2 Therapeutics, Inc. AN2 Therapeutics, Inc. is a biopharmaceutical company focused on discovering and developing novel small molecule therapeutics derived from its boron chemistry platform. AN2 has a pipeline of boron-based compounds in development for Chagas disease, melioidosis, and NTM lung disease caused by M. abscessus, along with early-stage programs focused on targets in infectious diseases and oncology. We are committed to delivering high-impact drugs to patients that address critical unmet needs and improve health outcomes. For more information, please visit our website at Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding: the potential and competitive advantage of the Company's boron chemistry platform; high-impact nature of the Company's clinical programs; the Company's approach to capital allocation and the availability of and plans to use non-dilutive funding; expectations regarding the Company's clinical trials, including initiation, enrollment, conduct and the timing of data and related announcements; the ability of non-human primate models to de-risk translation to human efficacy; market and sales potential; priority review voucher eligibility and registrational pathways; cash runway; continued global health programs; and other statements that are not historical fact. These statements are based on AN2's current estimates, expectations, plans, objectives and intentions, are not guarantees of future performance and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, but are not limited to, risks and uncertainties related to: AN2's ability to implement its plans for its internal boron chemistry platform and pipeline programs; timely enrollment of patients in AN2's clinical trials; disruptions at the FDA and other government agencies caused by funding shortages, staff reductions and statutory, regulatory and policy changes; AN2's ability to procure sufficient supply of its product candidates for its clinical trials; the potential for results from clinical trials to differ from preclinical, early clinical, preliminary or expected results, the ability of particular preclinical models in non-human primates to predict safety and efficacy in humans; significant adverse events, toxicities or other undesirable side effects associated with AN2's product candidates; the significant uncertainty associated with AN2's product candidates ever receiving any regulatory approvals; continued funding by the National Institute of Allergy and Infectious Disease (NIAID) of AN2's development program for melioidosis; AN2's ability to obtain, maintain or protect intellectual property rights related to its current and future product candidates; implementation of AN2's strategic plans for its business and product candidates; the sufficiency of AN2's capital resources and need for additional capital to achieve its goals; global macroeconomic conditions and global conflicts and other risks, including those described under the heading 'Risk Factors' in AN2's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed with the U.S. Securities and Exchange Commission (SEC). These filings, when made, are available on the investor relations section of AN2's website at and on the SEC's website at Forward-looking statements contained in this press release are made as of this date, and AN2 undertakes no duty to update such information except as required under applicable law. AN2 THERAPEUTICS, INC. CONDENSED BALANCE SHEETS (in thousands) March 31, 2025 (unaudited) December 31, 2024 Assets Current assets: Cash and cash equivalents $ 19,985 $ 21,351 Short-term investments 47,075 62,267 Prepaid expenses and other current assets 2,499 2,644 Long-term investments 11,480 5,021 Other assets, long-term 304 804 Total assets $ 81,343 $ 92,087 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 3,073 $ 3,317 Other current liabilities 4,941 6,921 Total liabilities 8,014 10,238 Stockholders' equity 73,329 81,849 Total liabilities and stockholders' equity $ 81,343 $ 92,087 Expand
The Hindu
12-05-2025
- Health
- The Hindu
Novartis to keep making malaria drugs if orders dry up amid aid cuts
Swiss drugmaker Novartis will keep making medicines for malaria and leprosy, even if it does not get orders as normal amid the global health funding crunch, its president of global health told Reuters in an interview. Ensuring availability of life-saving medicines The company makes 28 million malaria treatment courses every year, and sells almost all of them a not-for-profit price to countries and groups including the President's Malaria Initiative (PMI), a U.S.-government funded initiative that still has an unclear future given President Donald President Trump's vast international aid cuts, although it did receive an exemption for some work earlier this year because of its lifesaving potential. "We are not going to be the bottleneck," said Lutz Hegemann, president, Global Health and Sustainability, Novartis, in an interview. "We are not going to produce based on demand, because we know that these medicines are needed, and we need to be creative in finding ways to get them from the factory to patients." Earlier this year, an order was cancelled by a contractor for PMI when it got a stop-work order from the U.S. government, Dr. Hegemann said. But then within a month it got an exception and asked for work to begin again. "You cannot do that essentially in real-time. We remain committed to our volume," said Dr. Hegemann, adding that this also applied for leprosy, which it donates in smaller quantities through the World Health Organization (WHO). Funding gap and The Global Fund to Fight AIDS, TB and Malaria is the biggest buyer of Novartis' antimalarials. It has not yet faced cuts but is fundraising now for its future work in a difficult climate. Speaking in London, Hegemann also urged the pharmaceutical sector to step up while governments, including the U.S., United Kingdom and France, pull back from aid funding, and particularly work more directly with governments that have traditionally been recipients of aid. "I think it would be a missed opportunity if we just tried to essentially plug the gap that donor country funding has created, and I think we need to move beyond that," he said, pointing to public-private partnerships between pharmaceutical companies and low and middle-income countries as a model. Dr. Hegemann also said Novartis is set to spend almost double what it pledged to by the end of 2025 on malaria and neglected tropical diseases research and development: $490m rather than its pledged $250m. Products in development include a dengue antiviral, new treatments for leishmaniasis and Chagas disease, and the first malaria treatment for newborn babies.
