SequelSEC

AN2 Therapeutics, Inc. ANTX

Pharmaceutical Preparations · CIK 0001880438 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
Unavailable
Fiscal year ended 2025-12-31
Operating income
-$38.11M
Fiscal year ended 2025-12-31
Free cash flow
Unavailable
Fiscal year ended 2025-12-31

Valuation, from the filing

Public float$23.08MMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$0.64Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / equity0.4×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

How this compares in its industry

Percentile among the Pharmaceutical Preparations filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Current ratio6.87x69th

AN2 Therapeutics, Inc. (ANTX) reported net income of -$35.17M for the fiscal year ended 2025-12-31. This page shows 5 annual periods of income statement, balance sheet and cash flow figures normalized from AN2 Therapeutics, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.

Income

AN2 Therapeutics, Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
RevenueUnavailableUnavailableUnavailableUnavailableUnavailable
Cost of revenueUnavailableUnavailableUnavailableUnavailableUnavailable
Gross profitUnavailableUnavailableUnavailableUnavailableUnavailable
Operating income-$38.11M-$56.79M-$69.64M-$42.26M-$21.57M
Net income-$35.17M-$51.32M-$64.73M-$40.96M-$21.54M
Research & development$24.77M$40.49M$54.87M$28.51M$16.16M
Weighted-average diluted sharesshares 30.22Mshares 29.83Mshares 23.60Mshares 15.34Mshares 2.64M
Pretax incomeUnavailableUnavailableUnavailableUnavailableUnavailable
Income tax expense$0$0$0$0$0
Diluted EPS$-1.16$-1.72$-2.74$-2.79$-10.64
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrative$13.34M$14.07M$14.76M$12.75M$4.67M
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

AN2 Therapeutics, Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
Cash & equivalents$19.94M$21.35M$15.65M$27.22M$12.10M
Total assets$61.95M$92.09M$138.74M$102.56M$65.32M
Current assets$59.94M$86.26M$110.51M$98.62M$60.11M
Total liabilities$8.89M$10.24M$14.04M$7.19M$3.41M
Current liabilities$8.72M$10.24M$14.04M$7.19M$3.40M
Total equity incl. NCI$53.06M$81.85M$124.70M$95.37M-$47.41M
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailable$109.32M
InventoryUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts receivableUnavailableUnavailableUnavailableUnavailableUnavailable
GoodwillUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debtUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts payable$3.02M$3.32M$2.68M$2.12M$1.06M

Cash flow

AN2 Therapeutics, Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
Operating cash flow-$29.83M-$49.26M-$53.29M-$33.46M-$20.48M
Capital expendituresUnavailableUnavailableUnavailableUnavailableUnavailable
Investing cash flow$28.31M$54.59M-$43.28M-$21.77M-$50.02M
Financing cash flow$113.00K$372.00K$84.99M$70.36M$78.54M
Net change in cash-$1.41M$5.70M-$11.57M$15.12M$8.03M
Stock-based compensation$6.25M$8.34M$8.41M$4.39M$974.00K
Common dividends paidUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchasesUnavailableUnavailableUnavailableUnavailableUnavailable
Depreciation & amortizationUnavailableUnavailableUnavailableUnavailableUnavailable

Derived

AN2 Therapeutics, Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
Free cash flowUnavailableUnavailableUnavailableUnavailableUnavailable
Gross marginUnavailableUnavailableUnavailableUnavailableUnavailable
Operating marginUnavailableUnavailableUnavailableUnavailableUnavailable
FCF marginUnavailableUnavailableUnavailableUnavailableUnavailable
SBC / revenueUnavailableUnavailableUnavailableUnavailableUnavailable
Current ratio6.87x8.43xUnavailable13.72x17.70x
Revenue YoY growthUnavailableUnavailableUnavailableUnavailableUnavailable
Net marginUnavailableUnavailableUnavailableUnavailableUnavailable
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenueUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debt / equityUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailableUnavailableUnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open ANTX in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-11View SEC filing
10-Q · Filed 2026-05-11View SEC filing
10-K · Filed 2026-03-17View SEC filing
10-Q · Filed 2025-11-12View SEC filing
10-Q · Filed 2025-08-12View SEC filing
10-Q · Filed 2025-05-13View SEC filing

Companies in the same industry

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Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.