Lucy Day, CFO of AN2 Therapeutics, Inc. (NASDAQ:ANTX), recently sold part of her stake in the company. According to a recent filing, Day sold 2,957 shares of common stock on January 3, 2025, at a price of $1.341 per share, for a total of $3,965. This transaction was executed to satisfy withholding tax obligations arising from the vesting of restricted stock units (RSUs) on January 1, 2025. The sale occurred while the stock was trading near 1 $.35, significantly below its 52-week high of $22.22, with the company’s market cap currently at $41.2 million.
Following this sale, Day retains ownership of 32,670 shares, including 20,625 RSUs scheduled to vest over the next three years, subject to his continued service to the company. Additionally, his holdings include 5,000 shares acquired under the company’s employee stock purchase plan. InvestPro The analysis indicates that the stock is currently undervalued, with a solid Financial Health score and a solid quick ratio of 9.75. For more in-depth information on AN2 Therapeutics and access to comprehensive financial metrics, view the detailed Pro Research Report, available exclusively to InvestingPro subscribers.
Furthermore, AN2 Therapeutics has experienced significant developments. Results from the company’s Phase 2 trial for drug candidate EBO, aimed at treating refractory non-tuberculous mycobacterial infections, showed no difference in culture conversion rates, leading TD Cowen to downgrade the stock from Buy to Hold. A decision on whether to continue the phase 3 trial of EBO is expected after discussions with the FDA in the first half of 2025.
Simultaneously, AN2 Therapeutics announced the initiation of Phase 1 and Phase 2 trials for the treatment of Chagas disease and melioidosis, respectively, in 2025. Despite these developments, TD Cowen expressed skepticism about the potential of these tests have a significant impact on the valuation of the company.
Additionally, AN2 Therapeutics received an extension of its research grant from the Bill & Melinda Gates Foundation. This funding will contribute to the discovery of inhibitors targeting aminoacyl-tRNA synthetases, using the company’s proprietary boron chemistry platform.
Additionally, in response to a substantial acquisition of its shares by BML Investment Partners, the Company has implemented a shareholder rights plan to guard against potential coercive takeover tactics. Finally, Evercore ISI maintained an “Inline” rating for AN2 Therapeutics, with the company ending the quarter with $118 million in cash reserves.
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