AN2 Therapeutics, Inc.

ANTX

AN2 Therapeutics, Inc.

ANTX

Insider Sentiment (TTM):

Last Purchase:2025-06-02Last Sale:2026-05-29Shares Purchased (TTM):0Shares Sold (TTM):25,433

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:21,861,589Shares Outstanding:34,059,876Institutional Ownership Pct.:64.19%

Earnings Market Reaction:

Filing Date:2026-05-11Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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AN2 Therapeutics, Inc. (ANTX) — SEC Financial Statements & Analysis

AN2 Therapeutics, Inc. (ANTX) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	53	20	18	18	20	21	34	27	25	16	33	41
Available For Sale Securities Debt Securities Curr…	32	38	44	45	47	62	60	78	90	92	91	54
Prepaid Expense And Other Assets Current	2	2	2	5	2	3	4	3	2	3	3	3
Assets Current	87	60	64	68	70	86	98	107	116	111	126	98
Available For Sale Securities Debt Securities Nonc…	0	2	3	8	11	5	-	-	4	27	26	-
Other Assets Noncurrent	-	0	0	0	0	1	-	1	1	1	1	1
Assets	87	62	67	76	81	92	98	108	121	139	154	99
Liabilities And Stockhold…
Liabilities Current
Accounts Payable Current	3	3	2	2	3	3	2	2	2	3	5	3
Employee Related Liabilities Current	1	2	2	1	1	2	2	2	1	4	2	2
Accrued Liabilities Current	2	2	3	3	4	4	5	6	7	7	7	6
Operating Lease Liability Current	-	-	-	-	-	-	-	-	-	-	-	0
Other Liabilities Current	1	1	0	1	0	1	1	1	0	1	1	-
Liabilities Current	6	9	-	-	-	10	10	-	-	14	15	11
Other Liabilities Noncurrent	0	0	-	-	-	0	-	-	-	-	-	-
Liabilities	6	9	7	7	8	10	10	10	11	14	15	11
Stockholders Equity
Additional Paid In Capital	333	294	293	292	290	288	286	284	282	279	277	209
Accumulated Other Comprehensive Income Loss Net Of…	-0	0	0	0	0	0	0	-0	0	0	-0	-0
Retained Earnings Accumulated Deficit	-251	-241	-232	-223	-216	-206	-198	-186	-171	-154	-138	-121
Stockholders Equity	82	53	60	69	73	82	88	98	111	125	139	88
Liabilities And Stockholders Equity	87	62	67	76	81	92	98	108	121	139	154	99
Preferred Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Authorized	10	10	10	10	10	10	10	10	10	10	10	10
Preferred Stock Shares Issued	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Outstanding	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Shares Authorized	500	500	500	500	500	500	500	500	500	500	500	500
Common Stock Shares Issued	36	27	27	27	30	30	30	30	30	30	30	22
Shares Outstanding	36	27	27	27	30	30	30	30	30	30	30	22

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10‑Q10‑K

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-19.07%	-6.36%	-	-	-	-	-	-	-	-	-	-
2025	-4.24%	-11.02%	-10.17%	20.00%	23.81%	17.14%	-6.78%	-5.93%	-4.24%	-40.60%	-10.80%	-23.60%
2024	-12.12%	13.85%	11.69%	-6.42%	-1.83%	-0.92%	42.57%	40.59%	12.87%	-16.00%	-19.33%	-28.67%
2023	-	-	-	81.55%	91.43%	72.98%	9.03%	33.05%	26.62%	-	-	-
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Performance and Valuation Metrics

Metrics	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Liquidity Ratios
Current Ratio	15.73	6.87	-	-	-	8.43	9.75	-	-	7.87	8.52	8.80
Quick Ratio	15.33	6.65	-	-	-	8.17	9.33	-	-	7.64	8.34	8.54
Working Capital	81.93M	51.22M	-	-	-	76.02M	87.67M	-	-	96.46M	111.57M	87.05M
Leverage & Debt
Debt to Equity	0.07	0.17	-	-	-	0.13	0.11	-	-	0.11	0.11	0.13
Debt Ratio	0.07	0.14	-	-	-	0.11	0.10	-	-	0.10	0.10	0.11
Efficiency & Turnover
Asset Turnover TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Per Share Metrics
Diluted EPS TTM	-1.01	-1.16	-1.12	-1.24	-1.51	-1.72	-2.03	-2.17	-2.22	-2.74	-2.33	-2.79
Free Cash Flow Per Share TTM	-0.92	-0.99	-0.99	-1.18	-1.41	-1.65	-2.05	-2.04	-1.99	-2.26	-1.71	-2.13
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Growth Metrics
Net Income Growth (1Y)	-23.81%	-31.46%	-44.01%	-42.19%	-31.31%	-20.72%	1.71%	19.06%	35.79%	58.05%	-	-
EPS Growth (1Y)	-32.77%	-32.34%	-44.81%	-42.85%	-31.97%	-37.27%	-12.59%	-22.17%	-11.56%	2.73%	-	-
Valuation Metrics
P/E TTM	-3.37	-0.98	-1.13	-0.86	-0.90	-0.80	-0.53	-0.99	-1.47	-7.47	-6.91	-3.05
P/B	1.42	0.65	0.64	0.46	0.56	0.50	0.36	0.65	0.87	3.88	2.97	1.89
Market Cap	116.48M	34.45M	38.45M	31.98M	40.87M	41.16M	31.93M	64.12M	96.73M	483.57M	412.38M	165.73M
Enterprise Value	63.00M	14.50M	20.45M	13.76M	20.89M	19.81M	-1.57M	37.35M	72.04M	467.92M	379.76M	124.92M
Calculated Values
Free Cash Flow TTM	-31.28M	-29.83M	-29.87M	-35.50M	-42.29M	-49.26M	-61.05M	-60.85M	-59.29M	-53.29M	-43.86M	-41.55M
Net Debt	-53.49M	-19.94M	-18.00M	-18.22M	-19.99M	-21.35M	-33.50M	-26.77M	-24.69M	-15.65M	-32.62M	-40.81M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-05-29Sale

Owner: Williams, Sarah Joanne

Title: Principal Accounting Officer

Shares: 265

Price/Share: $4.43

Value: $1,173.95

Shares Owned: 66,583

Relationship: Officer

Ownership: Direct

2026-03-03Sale

Owner: Williams, Sarah Joanne

Title: Principal Accounting Officer

Shares: 327

Price/Share: $1.06

Value: $346.62

Shares Owned: 66,848

Relationship: Officer

Ownership: Direct

2026-01-06Sale

Owner: Chanda, Sanjay

Title: Chief Development Officer

Shares: 5,956

Price/Share: $1.01

Value: $6,015.56

Shares Owned: 75,823

Relationship: Officer

Ownership: Direct

2026-01-06Sale

Owner: Day, Lucy

Title: Chief Financial Officer

Shares: 5,512

Price/Share: $1.01

Value: $5,567.12

Shares Owned: 75,363

Relationship: Officer

Ownership: Direct

2026-01-06Sale

Owner: Prior, Stephen David

Title: Chief Strategy Officer

Shares: 2,858

Price/Share: $1.01

Value: $2,886.58

Shares Owned: 59,086

Relationship: Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-05-29	Williams, Sarah Joanne	Officer	Principal Accounting Officer	Direct	Sale	265	4.43	$1,173.95	66,583	4
2026-03-03	Williams, Sarah Joanne	Officer	Principal Accounting Officer	Direct	Sale	327	1.06	$346.62	66,848	4
2026-01-06	Chanda, Sanjay	Officer	Chief Development Officer	Direct	Sale	5,956	1.01	$6,015.56	75,823	4
2026-01-06	Day, Lucy	Officer	Chief Financial Officer	Direct	Sale	5,512	1.01	$5,567.12	75,363	4
2026-01-06	Prior, Stephen David	Officer	Chief Strategy Officer	Direct	Sale	2,858	1.01	$2,886.58	59,086	4
2026-01-06	Eizen, Joshua M	Officer	See Remarks	Direct	Sale	6,931	1.01	$7,000.31	152,499	4
2025-11-04	Eizen, Joshua M	Officer	See Remarks	Direct	Sale	2,819	1.14	$3,213.66	177,353	4
2025-11-04	Prior, Stephen David	Officer	Chief Strategy Officer	Direct	Sale	765	1.14	$872.10	65,548	4
2025-06-02	Easom, Eric	Director,Officer	Chief Executive Officer	Direct	Purchase	10,000	1.07	$10,700.00	256,380	4
2025-05-30	Leonard, Braden Michael	TenPercentOwner	-	Indirect	Sale	432,000	1.02	$440,640.00	3,217,432	4
2025-05-28	Fitzpatrick, Margaret M	Director	-	Direct	Purchase	8,610	1.18	$10,159.80	8,610	4
2025-05-28	Leonard, Braden Michael	TenPercentOwner	-	Indirect	Sale	200,000	1.09	$218,000.00	3,017,432	4
2025-01-03	Chanda, Sanjay	Officer	Chief Development Officer	Direct	Sale	2,957	1.34	$3,962.38	29,824	4
2025-01-03	Eizen, Joshua M	Officer	See Remarks	Direct	Sale	9,663	1.34	$12,948.42	116,672	4
2025-01-03	Prior, Stephen David	Officer	Chief Strategy Officer	Direct	Sale	2,029	1.34	$2,718.86	33,313	4
2025-01-03	Day, Lucy	Officer	Chief Financial Officer	Direct	Sale	2,957	1.34	$3,962.38	32,670	4
2024-12-10	Readnour, Robin Shane	Director	-	Indirect	Purchase	10,000	1.49	$14,900.00	652,573	4
2024-11-27	Zakrzewski, Joseph S	Director	-	Direct	Purchase	2,000	1.40	$2,800.00	125,199	4
2024-11-26	Readnour, Robin Shane	Director	-	Indirect	Purchase	25,000	1.39	$34,750.00	597,573	4
2024-11-20	Readnour, Robin Shane	Director	-	Indirect	Purchase	50,000	1.15	$57,500.00	585,073	4
2024-11-19	Zakrzewski, Joseph S	Director	-	Direct	Purchase	5,000	1.01	$5,050.00	123,199	4
2024-11-18	Easom, Eric	Director,Officer	Chief Executive Officer	Indirect	Purchase	50,000	1.00	$50,000.00	1,065,766	4
2024-08-14	Leonard, Braden Michael	TenPercentOwner	-	Indirect	Purchase	1,500,000	1.04	$1,560,000.00	5,749,432	4
2024-08-09	Ra, Capital Healthcare Fu…	TenPercentOwner	-	Indirect	Sale	3,525,094	1.08	$3,807,101.52	300,853	4
2024-01-18	Zakrzewski, Joseph S	Director	-	Indirect	Sale	100,000	19.11	$1,911,000.00	405,880	4
2024-01-16	Aziz, Kabeer	Director	-	Indirect	Sale	100,000	19.65	$1,965,000.00	377,542	4
2024-01-16	Adjuvant, Capital Managem…	TenPercentOwner	-	Direct	Sale	84,093	19.65	$1,652,427.45	1,995,958	4
2024-01-12	Readnour, Robin Shane	Director	-	Indirect	Sale	1,425	21.92	$31,236.00	414,788	4
2024-01-10	Readnour, Robin Shane	Director	-	Indirect	Sale	3,669	21.92	$80,424.48	415,494	4
2024-01-09	Krause, Kevin Michael	Officer	Chief Strategy Officer	Direct	Sale	7,417	20.14	$149,378.38	1,914	4
2024-01-02	Easom, Eric	Director,Officer	Chief Executive Officer	Direct	Sale	2,777	20.09	$55,789.93	2,130	4
2024-01-02	Krause, Kevin Michael	Officer	Chief Strategy Officer	Direct	Sale	2,583	20.12	$51,969.96	1,914	4
2023-11-14	Aziz, Kabeer	Director,TenPercentOwner	-	Indirect	Sale	1,810	16.15	$29,231.50	393,449	4
2023-11-14	Adjuvant, Capital Managem…	TenPercentOwner	-	Direct	Sale	1,522	16.15	$24,580.30	2,080,051	4
2023-10-02	Adjuvant, Global Health T…	TenPercentOwner	-	Direct	Sale	4,770	16.07	$76,653.90	2,081,573	4
2023-10-02	Aziz, Kabeer	Director,TenPercentOwner	-	Indirect	Sale	5,672	16.07	$91,149.04	393,737	4
2023-09-28	Aziz, Kabeer	Director,TenPercentOwner	-	Indirect	Sale	8,516	16.11	$137,192.76	410,403	4
2023-09-28	Adjuvant, Global Health T…	TenPercentOwner	-	Direct	Sale	7,160	16.11	$115,347.60	2,169,680	4
2023-09-13	Adjuvant, Global Health T…	TenPercentOwner	-	Direct	Sale	336	16.00	$5,376.00	2,177,547	4
2023-09-13	Aziz, Kabeer	Director,TenPercentOwner	-	Indirect	Sale	400	16.00	$6,400.00	411,893	4
2023-09-07	Adjuvant, Global Health T…	TenPercentOwner	-	Direct	Sale	2,841	16.05	$45,598.05	2,177,883	4
2023-09-07	Aziz, Kabeer	Director,TenPercentOwner	-	Indirect	Sale	3,378	16.05	$54,216.90	411,957	4
2023-08-23	Aziz, Kabeer	Director,TenPercentOwner	-	Indirect	Sale	400	16.00	$6,400.00	413,092	4
2023-08-23	Adjuvant, Capital Gp, L.P…	TenPercentOwner	-	Direct	Sale	336	16.00	$5,376.00	2,183,888	4
2023-08-18	Ra, Capital Nexus Fund Ii…	TenPercentOwner	-	Indirect	Purchase	1,777,778	9.00	$16,000,002.00	5,135,683	4
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Institutional Ownership

No data available for chart

2026-03-31

64.19%

Inst. Shares: 21,861,589

Shares Outstanding: 34,059,876

2025-12-31

86.03%

Inst. Shares: 25,993,725

Shares Outstanding: 30,215,747

2025-09-30

82.01%

Inst. Shares: 24,828,951

Shares Outstanding: 30,276,230

2025-06-30

82.25%

Inst. Shares: 24,815,673

Shares Outstanding: 30,172,328

2025-03-31

143.15%

Inst. Shares: 43,022,490

Shares Outstanding: 30,053,659

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	21,861,589	34,059,876	64.19%
2025-12-31	25,993,725	30,215,747	86.03%
2025-09-30	24,828,951	30,276,230	82.01%
2025-06-30	24,815,673	30,172,328	82.25%
2025-03-31	43,022,490	30,053,659	143.15%
2024-12-31	43,586,790	29,828,227	146.13%
2024-09-30	40,412,793	29,841,169	135.43%
2024-06-30	57,987,141	29,824,725	194.43%
2024-03-31	55,522,827	29,763,278	186.55%
2023-12-31	60,395,736	23,600,107	255.91%
2023-09-30	59,777,862	25,645,421	233.09%
2023-06-30	11,711,997	19,497,494	60.07%
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AN2 Therapeutics, Inc. (ANTX) — SEC Financial Statements & Analysis

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