Company: ANTX
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044366
Chunk: 201

Company: AN2 Therapeutics, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 7
Chunk 201
---

    Change

    % Change

    (in thousands, except percentages)

    Clinical trials expenses
     
    $
    15,626

    $
    21,200

    $
    (5,574
    )

    (26
    %)

    Personnel-related expenses

    13,244

    16,561

    (3,317
    )

    (20
    %)

    Consulting and outside services

    4,707

    4,770

    (63
    )

    (1
    %)

    Preclinical and research study expenses

    3,569

    3,517

    52

    1
    %

    Chemistry manufacturing and controls

    2,909

    7,316

    (4,407
    )

    (60
    %)

    Other expenses

    433

    1,507

    (1,074
    )

    (71
    %)

    Total research and development expenses
     
    $
    40,488

    $
    54,871

    $
    (14,383
    )

    (26
    %)

79

General and Administrative Expenses

General and administrative expenses were $14.1 million for the year ended December 31, 2024 compared to $14.8 million for the year ended December 31, 2023. The decrease of $0.7 million was primarily attributable to $0.4 million decrease in professional services expenses, $0.4 million decrease in facilities and miscellaneous expenses and $0.2 million decrease in D&O insurance expenses. These decreases were partially offset by $0.3 million increase in personnel related expenses, primarily related to stock-based compensation expense.

Restructuring Charges

Restructuring charges were $2.2 million for the year ended December 31, 2024 consisting of severance payments and other employee termination-related expenses. We had no restructuring charges for the year ended December 31, 2023.

Interest Income

Interest Income was $5.5 million for the year ended December 31, 2024 compared to $4.9 million for the year ended December 31, 2023. The increase of $0.6 million was due to higher interest rates despite lower cash, cash equivalents and short and long-term investment balances in 2024 as compared to 2023.

Liquidity and Capital