AN2 Therapeutics Plunges 66% in a Month: Here’s Why
AN2 Therapeutics (NASDAQ: ANTX), a clinical-stage company, leverages its boron chemistry platform to develop novel small molecule therapeutics to potentially treat various infectious diseases and cancer indications.
The company is currently evaluating its lead clinical-stage candidate, epetraborole, a bacterial leucyl-tRNA synthetase inhibitor, for nontuberculous mycobacteria (NTM) lung disease and acute melioidosis in separate early-stage studies.
In the past month, shares of AN2 Therapeutics plunged 66.3% after the company announced that it has discontinued its mid to late-stage study on epetraborole for patients with treatment-refractory mycobacterium avium complex lung disease due to unsatisfactory efficacy results.
Year to date, shares of ANTX have plummeted 95.2% compared with the industry’s 1.7% decline.
Image Source: Zacks Investment Research
On Aug 8, AN2 Therapeutics announced top-line results from the phase II portion of the phase II/III EBO-301 study evaluating epetraborole in combination with an optimized background regimen (OBR) in treatment-refractory MAC lung disease.
Per ANTX, the EBO-301 study met its primary endpoint, potentially validating a novel patient-reported outcome tool and a higher PRO-based clinical response rate of 39.5% in the epetraborole arm compared with the 25% observed in the placebo arm, when combined with OBR.
However, the MAC lung disease study failed to demonstrate a statistically significant, superior sputum culture conversion at month six, a key secondary endpoint, in the epetraborole + OBR arm compared with the placebo + OBR …
Full story available on Benzinga.com