AN2 Therapeutics (ANTX) Investor presentation summary

Strategic focus and pipeline overview

• Leveraging a proprietary boron chemistry platform to develop novel therapeutics targeting acute unmet needs in hematology, infectious diseases, and oncology.

• Advancing three proof-of-concept studies in 2026: polycythemia vera (PV), M. abscessus lung disease, and Chagas disease, all with significant addressable markets and no or limited approved therapies.

• Oncology pipeline includes pan-mutant PI3Ka and ENPP1 inhibitors, with candidates expected in 2026.

Polycythemia vera (PV) program

• Oral epetraborole targets red cell production via a novel mechanism, aiming for selective hematocrit control without broad myelosuppression.

• Phase 2 trial to initiate in 3Q26, with initial data expected in 4Q26 and updates throughout 2027.

• Prior studies show dose-dependent, reversible hematocrit reduction and preserved white blood cell and platelet counts.

• Designed for patients uncontrolled on current therapies or seeking oral alternatives.

M. abscessus lung disease program

• Epetraborole is in Phase 2 IIT for M. abscessus, a chronic lung disease with no FDA-approved drugs and high mortality.

• Oral, once-daily regimen aims to reduce treatment burden compared to current IV therapies.

• Preclinical and clinical data show potent activity, including bactericidal effects in mouse models and favorable safety.

• Topline Phase 2 data anticipated in late 2027.