AN2 Therapeutics, Inc. (ANTX)
NASDAQ:ANTX
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AN2 Therapeutics, Inc.
(NASDAQ:ANTX)
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Rating:54Neutral
Price Target:
$4.50
▲(294.74% Upside)
Action:Reiterated
Date:05/14/26
The score is held back primarily by weak financial performance typical of a pre-revenue biotech—ongoing losses and negative free cash flow despite improving burn—partly offset by a clean balance sheet with minimal debt. Technicals are moderately supportive with an uptrend versus longer-term moving averages and positive MACD, while valuation remains constrained by negative earnings and no dividend support.
Positive Factors
Conservative balance sheet
AN2's virtually debt-free balance sheet and positive equity materially reduce solvency and refinancing risk for a clinical-stage biotech. This structural strength gives management flexibility to fund R&D, negotiate partnerships, and survive trial cycles without immediate debt pressures, supporting multi-year program advancement.
Negative Factors
Persistent negative free cash flow
Consistent negative operating and free cash flow means the company must access external capital until revenue or materially lower spending emerges. Even with improving burn, persistent FCF deficits create ongoing dilution risk and constrain strategic optionality if capital markets tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
AN2's virtually debt-free balance sheet and positive equity materially reduce solvency and refinancing risk for a clinical-stage biotech. This structural strength gives management flexibility to fund R&D, negotiate partnerships, and survive trial cycles without immediate debt pressures, supporting multi-year program advancement.
Read all positive factors
AN2 Therapeutics, Inc. (ANTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$176.12M
Dividend YieldN/A
Average Volume (3M)73.31K
Price to Earnings (P/E)―
Beta (1Y)-0.12
Revenue GrowthN/A
EPS Growth27.21%
CountryUS
Employees22
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.10
Shares Outstanding36,016,163
10 Day Avg. Volume45,687
30 Day Avg. Volume73,314
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.65
Price to Sales (P/S)0.00
P/FCF Ratio-1.15
Enterprise Value/Market Cap0.45
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-2.17
Forecast
1Y Price Target
$9.00Price Target Upside689.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.91
Revenue Forecast (FY)N/A
AN2 Therapeutics, Inc. Business Overview & Revenue Model
Company Description
AN2 Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing treatments for rare, chronic, and serious infectious diseases. It is developing epetraborole, a once-daily oral treatment for patients with chronic non-tuber...
How the Company Makes Money
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AN2 Therapeutics, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
64
Positive
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | -77.00K | 0.00 |
| EBITDA | -36.60M | -38.11M | 3.23M | 4.90M | -40.88M | -21.57M |
| Net Income | -34.55M | -35.17M | -51.32M | -64.73M | -40.96M | -21.54M |
Balance Sheet | ||||||
| Total Assets | 87.49M | 61.95M | 92.09M | 138.74M | 102.56M | 65.32M |
| Cash, Cash Equivalents and Short-Term Investments | 85.29M | 58.00M | 83.62M | 107.30M | 96.06M | 58.55M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 53.00K | 0.00 |
| Total Liabilities | 5.73M | 8.89M | 10.24M | 14.04M | 7.19M | 3.41M |
| Stockholders Equity | 81.76M | 53.06M | 81.85M | 124.70M | 95.37M | 61.91M |
Cash Flow | ||||||
| Free Cash Flow | -31.28M | -29.83M | -49.26M | -53.29M | -33.46M | -20.48M |
| Operating Cash Flow | -31.28M | -29.83M | -49.26M | -53.29M | -33.46M | -20.48M |
| Investing Cash Flow | 27.41M | 28.31M | 54.59M | -43.28M | -21.77M | -50.02M |
| Financing Cash Flow | 37.38M | 113.00K | 372.00K | 84.99M | 70.36M | 78.53M |
AN2 Therapeutics, Inc. Technical Analysis
Positive
1.14
Price Trends
4.09
Positive
2.76
Positive
1.97
Positive
Market Momentum
0.22
Positive
61.98
Neutral
69.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANTX, the sentiment is Positive. The current price of 1.14 is below the 20-day moving average (MA) of 4.61, below the 50-day MA of 4.09, and below the 200-day MA of 1.97, indicating a bullish trend. The MACD of 0.22 indicates Positive momentum. The RSI at 61.98 is Neutral, neither overbought nor oversold. The STOCH value of 69.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ANTX.
AN2 Therapeutics, Inc. Risk Analysis
AN2 Therapeutics, Inc. disclosed 71 risk factors in its most recent earnings report. AN2 Therapeutics, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
AN2 Therapeutics, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $176.12M | -2.90 | -55.04% | ― | ― | 27.21% | |
52 Neutral | $88.17M | ― | 233.93% | ― | -61.71% | -11.47% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $51.30M | ― | -117.24% | ― | 476.71% | 70.23% | |
47 Neutral | $26.96M | -3.82 | -695.82% | ― | 7.13% | -8.85% | |
47 Neutral | $228.47M | ― | -194.74% | ― | 160.53% | 12.32% |
* Healthcare Sector Average
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AN2 Therapeutics, Inc. Corporate Events
Business Operations and StrategyPrivate Placements and Financing
AN2 Therapeutics Launches New $80 Million ATM Program
Neutral
Apr 9, 2026
On April 9, 2026, AN2 Therapeutics entered into an Open Market Sale Agreement with Jefferies that allows the company to issue and sell up to $80 million of its common stock from time to time via at-the-market offerings on Nasdaq or other existing ...
Business Operations and StrategyExecutive/Board Changes
AN2 Therapeutics Reprices Stock Options to Enhance Retention
Neutral
Mar 20, 2026
On March 19, 2026, AN2 Therapeutics’ board approved a repricing of all outstanding stock options granted under its 2017 and 2022 equity incentive plans, resetting the exercise price of eligible options, including those held by executives and...
Private Placements and Financing
AN2 Therapeutics Announces $40 Million Private Placement Financing
Neutral
Mar 10, 2026
On March 8, 2026, AN2 Therapeutics entered into a securities purchase agreement for a private placement of 8,245,611 common shares and pre-funded warrants for up to 5,789,493 additional shares, priced at about $2.85 each. The transaction, which is...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.