AN2 Therapeutics (NASDAQ:ANTX) stock is taking a beating on Friday after the company provided an update on its EBO-301 Phase 2/3 study.
AN2 Therapeutics notes that information comes from the Phase 2 study of epetraborole as an optimized background regimen (OBR) in treatment-refractory MAC lung disease. That includes it meeting its primary endpoint but failing to meet a key secondary endpoint.
On top of that, the company notes that it stopped accepting new patients to the Phase 3 part of the study in February. It did so in light of potentially lower-than-expected efficacy from its blinded aggregate data.
With all of this news, AN2 Therapeutics has determined that it will terminate the Phase 2 and Phase 3 parts of the study. It will also undergo a strategic restructuring to extend its cash runway into 2027.
What’s Next for ANTX Stock?
Here’s what AN2 Therapeutics co-founder, chairman, president and CEO Eric Easom said about the matter:
“In the coming months, we will further evaluate the results from the EBO-301 study and make informed decisions regarding potential future development of epetraborole for NTM lung disease in other patient populations. In the near-term, we plan to accelerate our R&D efforts on our boron chemistry platform where we believe we have several promising programs in infectious diseases and oncology.”
ANTX stock is down 34.8% as of Friday morning.
There are plenty of other stock market stories traders will want to read about below!
We have all of the hottest stock market news ready to go on Friday! A few examples include what’s going on with shares of Nauticus Robotics (NASDAQ:KITT) and Iteris (NASDAQ:ITI) stock, as well as the biggest pre-market movers this morning. All of this info is available at the following links!
More Friday Stock Market News
- Why Is Nauticus Robotics (KITT) Stock Up 40% Today?
- Why Is Iteris (ITI) Stock Up 64% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
