Lung Disease Focused AN2 Therapeutics' Lackluster Data Prompts To Stop Phase 3 Study Of Lung Infection Candidate, Halves Workforce
Portfolio Pulse from Vandana Singh
AN2 Therapeutics (NASDAQ:ANTX) announced the termination of its Phase 2/3 study of epetraborole for lung disease due to lackluster data. The company will also reduce its workforce by 50% and expects to incur $2-$3 million in charges. ANTX stock dropped 60.2% following the news.
August 09, 2024 | 4:15 pm
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AN2 Therapeutics has terminated its Phase 2/3 study of epetraborole for lung disease due to insufficient efficacy. The company will also reduce its workforce by 50% and expects to incur $2-$3 million in charges. ANTX stock dropped 60.2% following the news.
The termination of the Phase 2/3 study due to lackluster data and the significant workforce reduction are critical negative developments for AN2 Therapeutics. These actions indicate potential challenges in the company's pipeline and financial health, leading to a sharp decline in stock price.
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