Company: ANTX
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044366
Chunk: 200

Company: AN2 Therapeutics, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 7
Chunk 200
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    )

    (18
    %)

    Loss from operations

    (56,788
    )

    (69,635
    )

    12,847

    (18
    %)

    Interest income

    5,467

    4,860

    607

    12
    %

    Other income

    —

    43

    (43
    )

    (100
    %)

    Net loss
     
    $
    (51,321
    )
     
    $
    (64,732
    )
     
    $
    13,411

    (21
    %)

Research and Development Expenses

Research and development expenses, including related-party research and development expenses, were $40.5 million for the year ended December 31, 2024 compared to $54.9 million for the year ended December 31, 2023. The decrease of $14.4 million was primarily due to decreases in clinical trial costs, chemistry manufacturing and controls (“CMC”) expenses, personnel-related expenses, allocated facilities and miscellaneous expenses, licensing fees, and consulting and outside services, partially offset by an increase in preclinical and research expenses. Clinical trials expenses decreased by $5.6 million due to decreased costs associated with the termination of our Phase 2/3 clinical trial in treatment refractory NTM lung disease in August 2024 and completion of our Phase 1 clinical trials in 2023. Costs related to CMC activities decreased by $4.4 million due to completion of certain activities related to epetraborole and the timing of non-dilutive funding expense offsets. Personnel-related costs decreased by $3.3 million due to our restructuring activities. Allocated facilities and miscellaneous expenses decreased by $0.9 million due to recognition of our qualified small business payroll tax credit and our non-dilutive funding expense offset. Licensing fees decreased by $0.2 million and consulting and outside services decreased by $0.1 million. These decreases were partially offset by $0.1 million increase due to the prioritization of certain research programs. During the years ended December 31, 2024 and 2023, a total reimbursement of $3.7 million and $2.5 million, respectively, of operating expenses were recognized related to our funding arrangements.

The following table shows our research and development expenses by type of activity:

    Year Ended

    December 31,

    2024

    2023