An2 therapeutics director Robin Readnour buys $86,708 in inventory

Robin Shane Readnour, a director at AN2 Therapeutics, Inc. (NASDAQ:ANTX), has lately elevated his stake within the firm by way of a number of purchases of widespread inventory. Based on a latest SEC submitting, Readnour acquired a complete of 60,000 shares over a number of transactions between December 6 and December 10, 2024. The purchases had been made at costs starting from $1.4287 to $1.4935 per share, amounting to a complete funding of $86,708. The timing is notable because the inventory trades at $1.51, considerably beneath its 52-week excessive of $22.22, with InvestingPro evaluation indicating the inventory is presently undervalued.

These transactions, which occurred over a span of 5 days, have elevated Readnour’s holdings within the firm to 652,573 shares. The shares are held not directly by way of MGC Enterprise Companions 2018 LP and MGC Enterprise Companions QP 2018 LP, with Readnour having shared voting and dispositive energy over these shares. The micro-cap firm, valued at $43 million, maintains a robust monetary place with a present ratio of 9.75 and receives a ‘Honest’ total monetary well being rating.

AN2 Therapeutics, based mostly in Menlo Park, California, operates within the pharmaceutical preparations sector, and Readnour’s elevated funding could mirror confidence within the firm’s future prospects. Analyst targets vary from $1 to $5 per share, suggesting potential upside from present ranges.

In different latest information, AN2 Therapeutics has been met with combined trial outcomes for its drug candidate EBO, main TD Cowen to regulate its ranking from Purchase to Maintain. The corporate’s future engagement with the FDA relating to the EBO program is eagerly anticipated. In the meantime, AN2 Therapeutics has different initiatives within the pipeline, together with a Part 1 trial for a Chagas illness remedy and a Part 2 trial for a melioidosis remedy, each set for 2025.

As well as, AN2 Therapeutics has acquired an extension on its analysis grant from the Invoice & Melinda Gates Basis. This extension will bolster the corporate’s efforts to develop novel remedies for tuberculosis and malaria. Moreover, AN2 Therapeutics has applied a stockholder rights plan in response to a big acquisition of its shares by BML Funding Companions.

Evercore ISI has maintained an ‘In Line’ ranking for AN2 Therapeutics amidst these latest developments. The corporate ended the quarter with $118 million in money reserves, deemed enough for reaching the essential information readout section. These latest developments spotlight AN2 Therapeutics’ dedication to its pipeline packages.

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