Healthcare · Biotechnology
Price
$4.48
Market Cap
$122.8M
Employees
22
Beta
-0.98
Avg Volume
335,954
CEO
Eric E. Easom
Business Description
AN2 Therapeutics, Inc. is a biopharmaceutical company currently in its clinical development phase, specializing in the creation of treatments for uncommon, long-term, and severe infectious conditions. A key focus of their pipeline is epetraborole, an investigational oral medication designed for once-daily administration to individuals battling chronic non-tuberculous mycobacterial lung disease. This enterprise was established in 2017 and operates from its headquarters situated in Menlo Park, California.
Business History
Price Overview
Price at report time · Jul 2, 3:37pm (0m ago)
$4.46
Change · Jul 2
-0.25 (-5.21%)
Day Range
$4.41 – $4.69
52-Week Range
$1.00 – $6.91
50-Day MA
$4.58
200-Day MA
$2.44
Volume
112,894.00
Right now · live
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Real-time — the change above is the move since the report (over 0m).
Analyst Price Targets
Low
$9.00
Consensus
$9.00
High
$9.00
(8 analysts)
Share Structure
Outstanding
27,402,024.00
Float
15,496,830.00
Free Float
56.6%
Normal free float
— 56.6% of shares trade freely, ~43.4% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-3.86
Stock Price: $4.48
EPS (Diluted): -1.16
EPS (Diluted): -1.16
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.65
Stock Price: $4.48
Total Equity: $53.06M
Shares: 30,215,747
Total Equity: $53.06M
Shares: 30,215,747
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-1.91
Market Cap: $122.76M
Total Debt: $0.00
Cash: $19.94M
EBITDA: -$35.17M
Total Debt: $0.00
Cash: $19.94M
EBITDA: -$35.17M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$14.5M
Market Cap: $122.76M
Total Debt: $0.00
Cash: $19.94M
Total Debt: $0.00
Cash: $19.94M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.00
Stock Price: $4.48
Revenue: $0.00
Shares: 30,215,747
Revenue: $0.00
Shares: 30,215,747
EV/Sales (Total value vs revenue — works when P/E can't)
API0.00
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
0.0%
Gross Profit: $0.00
Revenue: $0.00
Revenue: $0.00
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
0.0%
Operating Income: -$38.11M
Revenue: $0.00
Revenue: $0.00
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
0.0%
Net Income: -$35.17M
Revenue: $0.00
Revenue: $0.00
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-52.3%
Net Income: -$35.17M
Total Equity: $53.06M
Total Equity: $53.06M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-45.3%
Operating Income: -$38.11M
Tax Rate: 0.0%
Equity: $53.06M
Total Debt: $0.00
Cash: $19.94M
Tax Rate: 0.0%
Equity: $53.06M
Total Debt: $0.00
Cash: $19.94M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
6.87
Current Assets: $59.94M
Current Liabilities: $8.72M
Current Liabilities: $8.72M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $53.06M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $53.06M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
Revenue / Shares Outstanding
—
Revenue: $0.00
Shares: 30,215,747
Shares: 30,215,747
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$1.76
Total Equity: $53.06M
Shares: 30,215,747
Shares: 30,215,747
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.99
Operating CF: -$29.83M
CapEx: $0.00
Shares: 30,215,747
CapEx: $0.00
Shares: 30,215,747
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $4.48
Stock Price: $4.48
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$35.17M
Net Income: -$35.17M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ANTX against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jul 2, 2026 3:37pm (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 |
| Cost of Revenue | $0 | $77,000 | $0 | $0 | $0 |
| Gross Profit | $0 | $-77,000 | $0 | $0 | $0 |
| Operating Expenses | $21.6M | $42.2M | $69.6M | $54.6M | $38.1M |
| Operating Income | -$21.6M | -$42.3M | -$69.6M | -$54.6M | -$38.1M |
| Net Income | -$21.5M | -$41.0M | -$64.7M | -$51.3M | -$35.2M |
| EBITDA | -$21.5M | -$40.9M | $4.9M | $3.2M | -$35.2M |
| EPS | $-1.50 | $-2.79 | $-2.74 | $-1.72 | $-1.16 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jul 2, 2026 3:37pm (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $12.1M | $27.2M | $15.6M | $21.4M | $19.9M |
| Total Current Assets | $60.1M | $98.6M | $110.5M | $86.3M | $59.9M |
| Total Assets | $65.3M | $102.6M | $138.7M | $92.1M | $62.0M |
| Current Liabilities | $3.4M | $7.2M | $14.0M | $10.2M | $8.7M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $3.4M | $7.2M | $14.0M | $10.2M | $8.9M |
| Total Equity | $61.9M | $95.4M | $124.7M | $81.8M | $53.1M |
| Retained Earnings | -$47.4M | -$89.7M | -$154.5M | -$205.8M | -$241.0M |
Cash Flow (Annual)
Last updated: Jul 2, 2026 3:37pm (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$20.5M | -$33.5M | -$53.3M | -$49.3M | -$29.8M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | -$20.5M | -$33.5M | -$53.3M | -$49.3M | -$29.8M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $8.0M | $15.1M | -$11.6M | $5.7M | -$1.4M |
Analyst Estimates (Annual)
Last updated: Jul 2, 2026 3:37pm (just now)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$33.2M $33.2M – $33.2M
|
$72.7M $72.7M – $72.7M
|
$217.0M $217.0M – $217.0M
|
$389.9M $389.9M – $389.9M
|
| EBITDA | $0 | $0 | $0 | $0 |
| Net Income |
-$33.8M -$33.8M – -$33.8M
|
-$29.0M -$29.0M – -$29.0M
|
-$31.4M -$31.4M – -$31.4M
|
-$30.8M -$30.8M – -$30.8M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jul 2, 2026 3:37pm (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | — | — | — | — |
| Gross Profit Growth | — | +100.0% | — | — |
| Operating Income Growth | -95.9% | -64.8% | +21.7% | +30.1% |
| Net Income Growth | -90.1% | -58.1% | +20.7% | +31.5% |
| EBITDA Growth | -89.8% | +112.0% | -34.1% | -1,188.0% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-29 | Williams Sarah Joanne | S-Sale | 265.00 | $4.43 | $1,174 |
| 2026-04-10 | Aziz Kabeer | A-Award | 3,775.00 | $0.00 | $0 |
| 2026-04-10 | Marks Gilbert Lynn | A-Award | 3,775.00 | $0.00 | $0 |
| 2026-04-10 | Martin Patricia A. | A-Award | 1,192.00 | $0.00 | $0 |
| 2026-03-19 | Day Lucy | A-Award | 82,300.00 | $3.91 | $321,793 |
| 2026-03-19 | Day Lucy | A-Award | 73,665.00 | $3.91 | $288,030 |
| 2026-03-19 | Day Lucy | A-Award | 66,000.00 | $3.91 | $258,060 |
| 2026-03-19 | Day Lucy | D-Return | 82,300.00 | $14.29 | $1.2M |
| 2026-03-19 | Day Lucy | D-Return | 73,665.00 | $6.60 | $485,894 |
| 2026-03-19 | Day Lucy | D-Return | 66,000.00 | $17.28 | $1.1M |
| 2026-03-19 | Chanda Sanjay | A-Award | 66,000.00 | $3.91 | $258,060 |
| 2026-03-19 | Chanda Sanjay | A-Award | 57,950.00 | $3.91 | $226,585 |
| 2026-03-19 | Chanda Sanjay | A-Award | 41,665.00 | $3.91 | $162,910 |
| 2026-03-19 | Chanda Sanjay | D-Return | 57,950.00 | $14.29 | $828,106 |
| 2026-03-19 | Chanda Sanjay | D-Return | 66,000.00 | $17.28 | $1.1M |
| 2026-03-19 | Chanda Sanjay | D-Return | 41,665.00 | $6.60 | $274,822 |
| 2026-03-19 | Marks Gilbert Lynn | A-Award | 23,742.00 | $3.91 | $92,831 |
| 2026-03-19 | Marks Gilbert Lynn | A-Award | 10,665.00 | $3.91 | $41,700 |
| 2026-03-19 | Marks Gilbert Lynn | A-Award | 10,362.00 | $3.91 | $40,515 |
| 2026-03-19 | Marks Gilbert Lynn | D-Return | 10,665.00 | $6.60 | $70,346 |
Dividend History (Last 20)
Last updated: Jul 2, 2026 3:37pm (just now)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2018-01-11 | $0.66 | |||
| 2017-10-12 | $0.66 | |||
| 2017-07-12 | $0.66 | |||
| 2017-04-11 | $0.66 | |||
| 2017-01-11 | $0.66 | |||
| 2016-10-12 | $0.66 | |||
| 2016-07-13 | $0.66 | |||
| 2016-04-13 | $0.66 | |||
| 2016-01-13 | $0.66 | |||
| 2015-10-13 | $0.66 | |||
| 2015-07-13 | $0.58 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ANTX — it's generated by the pipeline (
market-narrative step).
No community reviews yet for ANTX.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.369 · ed375950 · 2026-07-02 14:37:41