Company: ANTX
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044366
Chunk: 187

Company: AN2 Therapeutics, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1B
Chunk 187
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 state provisions.

F-23

AN2 Therapeutics, Inc.Notes to Financial Statements — Continued 

A Section 382 ownership change generally occurs if one or more stockholders or groups of stockholders who own at least 5% of our stock increase their ownership by more than 50 percentage points over their lowest ownership percentage within a rolling three-year period. Similar rules may apply under state tax laws. The Company is not currently in a taxable position and no net operating loss carryforwards or credits have been used to date.As of December 31, 2024 and 2023, the Company has unrecognized tax benefits of $2.1 million and $1.5 million, respectively. As of December 31, 2024, the total amount of unrecognized tax benefits would not affect the effective tax rate, if recognized, due to the valuation allowance that currently offsets deferred tax assets. The Company does not expect the unrecognized tax benefits to change significantly over the next 12 months. A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2024 and 2023 was as follows (in thousands):

        Year Ended December 31,

        2024

        2023

        Balance at beginning of year
         
        $
        1,461

        $
        783

        Additions related to current year positions

        622

        678

        Balance at end of year
         
        $
        2,083

        $
        1,461

      The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the statements of operations. Accrued interest and penalties are included within the related tax liability line in the balance sheet. No accrued interest and penalties have been recorded through December 31, 2024.The Company files income tax returns in the U.S. federal jurisdiction and California, Illinois, New York, South Carolina and Virginia state jurisdictions. The Company is not currently under audit by the Internal Revenue Service or other similar state or local authorities. Carryover attributes beginning December 31, 2020 and December 31, 2019, respectively, remain open to adjustment by the U.S. and state taxing authorities to which the Company is subject.

Note 11. Net Loss Per ShareThe following table sets forth the computation of the basic and diluted net loss per share (in thousands, except for per share amounts):

        Year Ended December 31,

        2024