- AN2 Therapeutics Inc (NASDAQ: ANTX) will be offering 4.6 million shares at $15 a share in its initial public offering, under the ticker 'ANTX,' raising $69 million.
- The Company announced IPO plans earlier this month.
- The price point came in at the middle of AN2's expected range after setting terms of $14 to $16 per share last week.
- Underwriters have an option to purchase up to an additional 690,000 shares.
- The new money, according to AN2, will go to fund further clinical development of lead candidate epetraborole in an ongoing Phase 1 trial, a planned Phase 2/3 pivotal trial, manufacturing, and expanding into other indications within lung disease and infections.
- Related: Lung-Disease Focused AN2 Therapeutics Files Plans For NASDAQ Debut.
- Last month, AN2 Therapeutics announced topline results from its Phase 1b dose-ranging study of oral epetraborole for non-tuberculous mycobacterial (NTM) lung disease.
- Phase 1b evaluated epetraborole administered to healthy volunteers at doses ranging from 250 mg to 1,000 mg for 28 days.
- Results showed that epetraborole was generally well tolerated, with no severe/serious adverse events.
- Price Action: ANTX shares are trading at $16.43 during the market session on the last check Friday.
Read at Benzinga