AN2 Therapeutics Cuts 50% of Staff and Discontinues Epetraborole Program for MAC Lung Disease

Workforce Reduction:
AN2 Therapeutics is reducing its workforce by 50% by the end of the year, with an estimated restructuring cost of $2-3 million.

Epetraborole Program Discontinuation:
The company has discontinued the development of epetraborole for refractory Mycobacterium avium complex (MAC) lung disease due to disappointing Phase II/III trial results.

Phase II/III Trial Outcomes:
The Phase II portion of the trial met its primary endpoint of patient-reported response, but there was no significant difference in sputum culture conversion between the treatment and placebo groups.

Future Plans:
AN2 plans to initiate a Phase II trial evaluating epetraborole for melioidosis, a bacterial infection, and is also developing AN2-502998 for Chagas disease.

Stock Impact:
AN2’s stock plummeted by over 22.7% in premarket trading following the announcement, continuing a decline that began in February when enrollment in the Phase III trial was paused.

Leadership Changes:
Dr. Paul Eckburg, AN2’s chief medical officer, will leave the company by August 30 as part of the restructuring.