AN2 Therapeutics, Inc.

ANTX Healthcare Biotechnology

In the quarter to June 2026, EPS grew 14.3% and free cash flow grew 7.91%, each against the same quarter a year earlier. Dividend growth for three consecutive years; insiders bought in the last twelve months.

3.38 0.22 −6.11%
Market cap
$135.9M
P/E
0.0×
Fwd P/E
—
Dividend yield
—
F-score
n/a
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Insider Decisions trades per month

Total buys 0.01
Total sells 0.40
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — 1 —
Sell 2 — 4 — 1 — 1 — 1 1 3 —
Insider Ownership 36.78%

Capital & Financial Ratios $m

Market Cap 135.85
Revenue —
Net Income (36.28)
Free Cash Flow (30.68)
Net Debt (78.39)
Current Ratio 14.32 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E —
P/S ratio 0.00
P/B ratio 1.99
Past 5Y EPS Growth —
This Y EPS Growth 22.84% (at or above 15%: strong)
Next Y EPS Growth 10.61%
Next Y revenue growth —
Next 5Y EPS Growth 10.92%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/B against its own 10 years 72.66%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2018 1.31
0.66
0.66
2017 2.62
0.66
0.66
0.66
0.66
2016 2.62
0.66
0.66
0.66
0.66
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 107 84 58 78
Receivables — — — —
Inventory — — — —
Other — — — —
111 86 60 80
2023 2024 2025 Q'26
Payables 3 3 3 2
ST’ Debt — — — —
Other 1 1 1 1
14 10 9 6

Compound Annual Growth %

10y 5y 3y
Sales — — —
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 80.74% (17.75%)

Revenue $m

Year
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (12) (7) — — —
’25 (11) (8) (6) (5) (30)
’24 (18) (14) (12) (5) (49)
’23 (12) (13) (12) (17) (53)
’22 (7) (10) (9) (8) (33)
’21 (2) (5) (5) (9) (20)
’20 — — — (5) (5)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (12) (7) — — —
’25 (11) (8) (6) (5) (30)
’24 (18) (14) (12) (5) (49)
’23 (12) (13) (12) (17) (53)
’22 (7) (10) (9) (8) (33)
’21 (2) (5) (5) (9) (20)
’20 — — — (5) (5)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.29) (0.18) — — —
’25 (0.35) (0.21) (0.31) (0.29) (1.16)
’24 (0.56) (0.48) (0.43) (0.25) (1.72)
’23 (0.79) (0.81) (0.65) (0.57) (2.74)
’22 (2.98) (0.53) (0.59) (0.61) (2.79)
’21 (0.78) (1.90) (2.63) (2.86) (8.17)
’20 — — — — (5.30)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — — 6.88 4.87 0.87 1.01

Analyst estimates 2026–2028

Powerpack
High — — — — — — 23.58 21.70 22.22 1.55
People
People Employees — — — — — 22 36 41 22 21
Revenue/emp, $m — — — — — 0.00 0.00 0.00 0.00 0.00
Income, $m
Income, $m Revenue — — — — — — — — — —
Gross margin, % — — — — — — 0.00 — — —
EBT — — — (6) (14) (22) (41) (65) (51) (35)
EBT margin, % — — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net income — 0 — (6) (14) (22) (41) (65) (51) (35)
Depreciation — — — — — 0 (1) (3) (3) (1)
Per share, $
Per share, $ Revenue — — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Earnings — — — (0.31) (5.30) (8.17) (2.79) (2.74) (1.72) (1.16)
Cash flow — — — (0.13) (2.09) (7.76) (2.18) (2.26) (1.65) (0.99)
Capex — — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Free cash flow — — — (0.13) (2.09) (7.76) (2.18) (2.26) (1.65) (0.99)
Book value — — — 0.26 1.07 23.47 6.22 5.28 2.74 1.76
Shares, m — — — 19 3 3 15 24 30 30
Valuation, ×
Valuation, × P/E — — — — — — — — — —
P/S — — — — — — — — — —
P/B — — — — — — — — — —
EV/Sales — — — — — — — — — —
EV/FCF — — — — — — — — — —
Cash, $m
Cash, $m Operating cash flow — — — (2) (5) (20) (33) (53) (49) (30)
Capex — — — — — — — — — —
Free cash flow — — — (2) (5) (20) (33) (53) (49) (30)
Balance, $m
Balance, $m Working capital — — — 6 3 57 91 96 76 51
Total debt — — — — — — 0 — — —
Net debt — — — (6) (4) (59) (96) (107) (84) (58)
Shareholders’ equity — — — 5 3 62 95 125 82 53
Returns, %
Returns, % ROA — — — (201.19) (293.62) (80.68) (50.96) (53.65) (44.47) (45.67)
ROIC — — — 0.00 0.00 (402.14) 0.00 (250.04) 0.00 0.00
ROE — — — 43.91 111.67 82.85 (178.38) (58.83) (49.69) (52.14)
Negative figures in brackets.

All 10 years →

Charts ten years each

AN2 Therapeutics, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MOLN Molecular Partners AG Sponsored ADR $143.5M — (loss-making) — (loss-making) −98.86% (below 0%: shrinking) n/m +23.77% (above 0%: growing) 0.00% 0.00% Compare
TARA Protara Therapeutics, Inc. $141.8M — (loss-making) — — n/m −28.10% (below 0%: shrinking) 0.00% 0.00% Compare
ALXO ALX Oncology Holdings Inc. $138.3M — (loss-making) — (loss-making) −100.00% (below 0%: shrinking) n/m +31.65% (above 0%: growing) 0.00% 0.00% Compare
NKTX Nkarta, Inc. $138.2M — (loss-making) — — n/m −29.19% (below 0%: shrinking) 0.00% 0.00% Compare
AVXL Anavex Life Sciences Corp. $137.2M — (loss-making) — — n/m +27.02% (above 0%: growing) — 0.00% Compare
KRRO Korro Bio, Inc. $137.1M — (loss-making) — (loss-making) −86.28% (below 0%: shrinking) n/m +12.07% (above 0%: growing) 100.00% 0.00% Compare
ANTX AN2 Therapeutics, Inc. $135.9M — (loss-making) — — n/m +7.91% (above 0%: growing) 0.00% 0.00%
CUE Cue Biopharma, Inc. $135.6M — (loss-making) — (loss-making) +166.66% (above 0%: growing) n/m −742.65% (below 0%: shrinking) 100.00% (1,113.30%) Compare
TLSA Tiziana Life Sciences Ltd $134.7M — (loss-making) — — −258.11% (below 0%: shrinking) +18.03% (above 0%: growing) 0.00% — Compare
Median of peers $137.7M — — −92.57% — +15.05% 0.00% 0.00%

All 614 Biotechnology stocks →

AN2 Therapeutics, Inc. (ANTX) key facts

  • AN2 Therapeutics, Inc. (ANTX) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, ANTX traded at $3.38, a market capitalization of $135.9 million.
  • Return on equity was −52.1% and debt-to-equity 0.00.

Source: company filings (standardised) and stockrow calculations.

AN2 Therapeutics, Inc. (ANTX) Latest News

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