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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
AN2 Therapeutics
AN2 Therapeutics (ANTX) investor relations material
AN2 Therapeutics Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary11 Aug, 2026
Executive summary
Three Phase 2 programs are expected to be underway by year-end 2026, targeting polycythemia vera, M. abscessus lung disease, and chronic Chagas disease, with two preclinical candidates advancing and a new solid tumor candidate declared.
Expanded development of epetraborole into Phase 2 for polycythemia vera, with IND filing expected in Q3 2026 and enrollment to begin in Q4 2026.
Positive preclinical and Phase 1 results for AN2-502998 in Chagas disease support initiation of a Phase 2 trial in late 2026.
Ongoing investigator-initiated trial for epetraborole in M. abscessus lung disease, with topline results expected in late 2027.
Pipeline expansion includes plans to advance a second boron-based compound by end of 2026.
Financial highlights
Net loss was $8.2 million for Q2 2026, up from $6.5 million in Q2 2025; net loss for the six months ended June 30, 2026 was $18.2 million, compared to $17.1 million in the prior year period.
R&D expenses rose to $6.0 million in Q2 2026 from $3.2 million in Q2 2025, driven by higher CMC, consulting, preclinical, and clinical trial costs.
G&A expenses decreased to $2.9 million in Q2 2026 from $4.0 million in Q2 2025 due to lower professional and personnel-related costs.
Cash, cash equivalents, and investments totaled $79.9 million as of June 30, 2026.
Net cash used in operating activities was $19.1 million for the six months ended June 30, 2026.
Outlook and guidance
Available cash is expected to fund operations for at least 12 months from the reporting date, with some projections extending runway into 2029.
Anticipates increased operating expenses as clinical and preclinical programs advance.
Plans to initiate multiple Phase 2 studies in late 2026 and continue expanding the pipeline.
IND filing for the Phase 2 polycythemia vera study expected in Q3 2026, with enrollment starting in Q4 2026.
Topline results from the M. abscessus lung disease trial expected in late 2027, subject to enrollment.
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Latest events from AN2 Therapeutics
- Three phase II programs targeting major unmet needs will deliver key data readouts starting this year.ANTX
Jefferies Global Healthcare Conference 2026 - Boron chemistry platform drives expansion into oncology, PV, and rare diseases with multiple catalysts ahead.ANTXStifel 2026 Targeted Oncology Virtual Forum
- Q1 2026 net loss narrowed to $10.0M, $85.3M cash, and cash runway projected into 2029.ANTXQ1 2026
- Boron-based therapies advance in hematology, infectious disease, and oncology with pivotal trials ahead.ANTXInvestor presentation
- Vote on director elections and auditor ratification set for June 3, 2026.ANTXProxy filing
- Director elections, auditor ratification, and executive compensation are key meeting topics.ANTXProxy filing
- Biopharma seeks up to $300M via flexible offerings to fund R&D, with notable dilution risk.ANTXRegistration filing
- Reduced net loss, advanced clinical pipeline, and secured funding to extend runway into 2029.ANTXQ4 2025
- Epetraborole enters Phase 2 for PV, aiming for durable, selective oral hematocrit control in 2026.ANTXStatus update
Next AN2 Therapeutics earnings date
3rd Annual Guggenheim Healthcare Innovation Conference9 Nov, 2026
AN2 Therapeutics
Next AN2 Therapeutics earnings date
3rd Annual Guggenheim Healthcare Innovation Conference9 Nov, 2026
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Frequently asked questions
AN2 Therapeutics Inc. is a biopharmaceutical company focused on developing treatments for rare, chronic, and serious infectious diseases. The company specializes in novel small-molecule therapies designed to address unmet medical needs, particularly in non-tuberculous mycobacterial (NTM) lung disease and other bacterial infections. The company is headquartered in Menlo Park, California, and its shares are listed on the NASDAQ.