Company: ANTX
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044366
Chunk: 117

Company: AN2 Therapeutics, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1A
Chunk 117
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 sell their shares at or above the price paid for the shares. In addition to the factors discussed in this “Risk Factors” section and elsewhere in this Annual Report Form 10-K, these factors include:

•the commencement, enrollment or results of our planned and future clinical trials;

•the sufficiency of our existing cash to fund our future operating expenses and capital expenditure requirements;

•the results of our testing and clinical trials;

•unanticipated safety, tolerability or efficacy concerns;

•the loss of any of our key research, development or management personnel;

•regulatory or legal developments in the United States and other countries;

•the success of competitive products or technologies;

•adverse actions taken by regulatory agencies with respect to our clinical trials or manufacturers;

•changes or developments in laws or regulations applicable to our product candidates;

•changes to our relationships with collaborators, manufacturers, or suppliers;

•announcements concerning our competitors or the pharmaceutical industry in general;

•actual or anticipated fluctuations in our operating results;

•changes in financial estimates or recommendations by securities analysts;

•potential acquisitions;

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•the results of our efforts to discover, develop, acquire, or in-license additional product candidates;

•the trading volume of our common stock on the Nasdaq Global Select Market;

•sales of our common stock by us, our executive officers and directors or our stockholders or the anticipation that such sales may occur in the future;

•general economic, political, and market conditions and overall fluctuations in the financial markets in the United States or other countries where we conduct critical business;

•stock market price and volume fluctuations of comparable companies and, in particular, those that operate in the biopharmaceutical industry;

•banking crises or failures; and

•investors’ general perception of us and our business.

These and other market and industry factors may cause the market price and demand for our common stock to fluctuate substantially, regardless of our actual operating performance, which may limit or prevent investors from selling their shares of our common stock at or above the price paid for the shares and may otherwise negatively affect the liquidity of our common stock. In addition, the stock market in general, and biopharmaceutical companies in particular, have experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of these companies.

Some companies that have experienced volatility in the trading price of their shares have been the subject of securities class action litigation. Any lawsuit to which we are a party, with or without merit, may result in an unfavorable judgment. We also may