Lucy Day, the Chief Financial Officer of AN2 Therapeutics, Inc. (NASDAQ:ANTX), recently sold a portion of her holdings in the company. According to a recent filing, Day sold 2,957 shares of common stock on January 3, 2025, at a price of $1.341 per share, totaling $3,965. This transaction was executed to satisfy tax withholding obligations arising from the vesting of Restricted Stock Units (RSUs) on January 1, 2025. The sale occurred as the stock trades near $1.35, significantly below its 52-week high of $22.22, with the company’s market capitalization currently at $41.2 million.
Following this sale, Day retains ownership of 32,670 shares, which include 20,625 RSUs set to vest over the next three years, contingent on her continued service to the company. Additionally, her holdings encompass 5,000 shares acquired through the company’s Employee Stock Purchase Plan. InvestingPro analysis indicates the stock is currently undervalued, with a strong financial health score and robust current ratio of 9.75. For deeper insights into AN2 Therapeutics and access to comprehensive financial metrics, check out the detailed Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, AN2 Therapeutics has experienced significant developments. The company’s Phase 2 trial results for the EBO drug candidate, aimed at treating refractory nontuberculous mycobacterial infections, did not show a difference in culture conversion rates, leading to TD Cowen downgrading the stock from Buy to Hold. A decision on whether to proceed with the Phase 3 trial of EBO is expected after discussions with the FDA in the first half of 2025.
Simultaneously, AN2 Therapeutics has announced the initiation of Phase 1 and Phase 2 trials for treatments of Chagas disease and melioidosis, respectively, in 2025. Despite these developments, TD Cowen expressed skepticism about the potential of these trials to significantly impact the company’s valuation.
In addition, AN2 Therapeutics has received an extension for its research grant from the Bill & Melinda Gates Foundation. This funding will aid in the discovery of inhibitors targeting aminoacyl-tRNA synthetases, utilizing the company’s proprietary boron chemistry platform.
Furthermore, in response to a substantial acquisition of its shares by BML Investment Partners, the company has implemented a stockholder rights plan to safeguard against potential coercive takeover tactics. Lastly, Evercore ISI has maintained an ‘In Line’ rating for AN2 Therapeutics, with the company ending the quarter with $118 million in cash reserves.
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