AN2 Therapeutics price target lowered to $2 from $5 at Citizens JMP

Citizens JMP analyst Roy Buchanan lowered the firm’s price target on AN2 Therapeutics (ANTX) to $2 from $5 and keeps an Outperform rating on the shares. AN2 announced that the unblinded Phase 3 portion of the already terminated EBO-301 Phase 2/3 of oral epetraborole for treating refractory mycobacterium avium complex nontuberculous mycobacteria lung disease missed the primary endpoint, which Citizens says is “disappointing,” though it continues to like the the boron-chemistry platform and preclinical activity of a number of compounds, the analyst tells investors in a research note. AN2 is discontinuing oral epetraborole for MAC NTM, but will continue to explore it in M. abscessus NTM and the I.V. for melioidosis, the firm says.