AN2 Therapeutics Files Q3 2024 10-Q
Ticker: ANTX · Form: 10-Q · Filed: Nov 13, 2024 · CIK: 1880438
Sentiment: neutral
Topics: 10-Q, financials, equity, pharmaceutical
TL;DR
AN2 Therapeutics filed its Q3 2024 10-Q, showing financial details on stock and capital.
AI Summary
AN2 Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates. Key financial data includes information on common stock, additional paid-in capital, and retained earnings as of various dates throughout 2023 and 2024.
Why It Matters
This filing provides investors with a quarterly update on AN2 Therapeutics' financial health and operational status, crucial for understanding the company's trajectory in the pharmaceutical sector.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, AN2 Therapeutics faces inherent risks related to drug development, regulatory approvals, and market competition.
Key Numbers
- 2024-09-30 — Reporting Period End Date (The 10-Q covers financial data up to this date.)
- 2024-11-13 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 2022-03-24 — IPO Date (Date of the company's Initial Public Offering.)
Key Players & Entities
- AN2 Therapeutics, Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-11-13 (date) — Filing date
- 0000950170-24-126282 (other) — Accession Number
- 0001880438 (other) — Central Index Key
FAQ
What is the total amount of Additional Paid-In Capital as of September 30, 2024?
The filing indicates 'us-gaap:AdditionalPaidInCapitalMember' for various periods, but a specific total for September 30, 2024, is not explicitly stated in the provided snippet.
What is the status of AN2 Therapeutics' equity incentive plans?
The filing mentions 'us-gaap:RestrictedStockUnitsRSUMember' and 'antx:TwoThousandTwentyTwoEquityIncentivePlanMember' for the period ending September 30, 2024, indicating active equity incentive programs.
When was the Two Thousand Twenty-Two Employee Stock Purchase Plan established or last referenced?
The 'srt:MinimumMember antx:TwoThousandTwentyTwoEmployeeStockPurchasePlanMember' is referenced for the period ending September 30, 2024.
What types of short-term investments does AN2 Therapeutics hold?
The filing mentions 'us-gaap:CommercialPaperMember' and 'us-gaap:ShortTermInvestmentsMember' with 'us-gaap:FairValueInputsLevel2Member' for fair value measurements as of September 30, 2024.
What was the company's fiscal year end?
The company's fiscal year ends on December 31.
Filing Stats: 4,443 words · 18 min read · ~15 pages · Grade level 16.6 · Accepted 2024-11-13 16:04:17
Key Financial Figures
- $0.00001 — had 29,878,890 shares of common stock, $0.00001 par value per share, outstanding. Tab
Filing Documents
- antx-20240930.htm (10-Q) — 2196KB
- antx-ex31_1.htm (EX-31.1) — 17KB
- antx-ex31_2.htm (EX-31.2) — 17KB
- antx-ex32_1.htm (EX-32.1) — 8KB
- antx-ex32_2.htm (EX-32.2) — 8KB
- 0000950170-24-126282.txt ( ) — 7298KB
- antx-20240930.xsd (EX-101.SCH) — 937KB
- antx-20240930_htm.xml (XML) — 1074KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 Condensed Balance Sheets 3 Condensed Statements of Operations and Comprehensive Loss 4 Condensed Statements of Stockholders' Equity 5 Condensed Statements of Cash Flows 7 Notes to Unaudited Condensed Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.
Controls and Procedures
Controls and Procedures 36 PART II. OTHER INFORMATION 38 Item 1.
Legal Proceedings
Legal Proceedings 38 Item 1A.
Risk Factors
Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 90 Item 3. Defaults Upon Senior Securities 90 Item 4. Mine Safety Disclosures 90 Item 5. Other Information 91 Item 6. Exhibits 92
Signatures
Signatures 94 i SPECIAL NOTE REGA RDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q ("Form 10-Q") contains forward-looking statements. All statements other than statements of historical facts contained in this Form 10-Q, including statements regarding our future results of operations and financial position, business strategy, product candidates, planned preclinical and nonclinical studies and clinical trials, results of preclinical and nonclinical studies, clinical trials, research and development costs, regulatory approvals, timing and likelihood of success, as well as plans and objectives of management for future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that are in some cases beyond our control and may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "would," "expect," "plan," "anticipate," "could," "intend," "target," "project," "believe," "estimate," "predict," "potential," or "continue," or the negative of these terms or other similar expressions. Forward-looking statements contained in this Form 10-Q include, but are not limited to, statements about: the initiation, timing, progress, and results of our preclinical and nonclinical studies and clinical trials, and our research and development programs, including the manufacture of clinical trial material and drug product for launch; the sufficiency of our existing cash to fund our future operating expenses and capital expenditure requirements; the accuracy of our estimates regarding expenses, capital requirements and needs for additional financing; our use of the net proceeds from financing activities; the translation of our preclinical resul
—FIN ANCIAL INFORMATION
PART I—FIN ANCIAL INFORMATION Ite m 1. Financial Statements. AN2 THERAPEUTICS, INC. CONDENSED BALANCE SHEETS (in thousands, except share and per share amounts) (unaudited) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 33,504 $ 15,647 Short-term investments 59,922 91,648 Prepaid expenses and other current assets 4,263 3,212 Total current assets 97,689 110,507 Long-term investments — 27,194 Other assets, long-term — 1,043 Total assets $ 97,689 $ 138,744 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 1,711 $ 2,676 Accrued compensation 2,110 4,018 Accrued liabilities 4,921 6,681 Other current liabilities 1,275 668 Total current liabilities 10,017 14,043 Total liabilities 10,017 14,043 Commitments and contingencies (Note 7) Stockholders' equity: Preferred stock, $ 0.00001 par value; 10,000,000 shares authorized at September 30, 2024 and December 31, 2023, respectively; no shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Common stock, $ 0.00001 par value; 500,000,000 shares authorized at September 30, 2024 and December 31, 2023; 29,868,583 and 29,741,445 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively — — Additional paid-in capital 285,814 278,881 Accumulated other comprehensive gain 112 275 Accumulated deficit ( 198,254 ) ( 154,455 ) Total stockholders' equity 87,672 124,701 Total liabilities and stockholders' equity $ 97,689 $ 138,744 The accompanying notes are an integral part of these unaudited interim condensed financial statements. 3 AN2 THERAPEUTICS, INC. CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except share and per share amounts) (unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024