AN2 Therapeutics(US:ANTX)2024-05-14 20:07Financial Performance - As of March 31, 2024, the company had cash, cash equivalents, and investments totaling $118.1 million [1] - Research and Development (R&D) expenses for Q1 2024 were $14.7 million, an increase from $12.0 million in Q1 2023, attributed to higher clinical trial and personnel-related expenses [5] - General and Administrative (G&A) expenses for Q1 2024 were $3.6 million, down from $4.1 million in Q1 2023, due to reduced professional services and insurance costs [5] - The net loss for Q1 2024 was $16.6 million, compared to a net loss of $15.3 million in Q1 2023 [6] - Other income for Q1 2024 was $1.7 million, up from $0.7 million in Q1 2023, driven by increased interest and investment income [6] - The total operating expenses for Q1 2024 were $18.3 million, compared to $16.0 million in Q1 2023 [11] Clinical Trials - The company plans to report Phase 2 topline results in August 2024 from the ongoing Phase 2/3 trial (EBO-301) in treatment-refractory Mycobacterium avium Complex (TR-MAC) [1] - The Phase 2 topline data will provide the first clinical efficacy data for epetraborole in patients with treatment-refractory MAC [2] - The company has paused Phase 3 enrollment in the EBO-301 trial, with 97 patients currently enrolled, pending further data review [3] - The company is assessing the continuation of Phase 3 enrollment after reviewing unblinded Phase 2 data and discussions with the FDA [4]