Eric Easom, co-founder, chairman, president and CEO of AN2, said: “In the near term, we plan to accelerate our R&D efforts on our boron chemistry platform, where we have several promising programs in infectious diseases and oncology.”
As part of the Company’s efforts to increase the Company’s working capital and implement its ongoing strategy, the restructuring will incur costs of approximately $2 million to $3 million, including severance and other related costs.
The layoffs are expected to be completed by the end of 2024 and will also affect the company’s chief physician, Paul Eckburg, who will remain available to the company as an advisor during a transition period.
The change in focus follows the discontinuation of the EBO-301 study, which evaluated epetraborole plus an optimized background regimen (OBR) in treatment-refractory MAC lung disease. While the study met its primary objective of potentially validating a novel patient-reported outcome tool and demonstrating a higher PRO-based clinical response rate in the epetraborole plus OBR arm versus placebo plus OBR, a key secondary endpoint showed similarities between the treatment arms.
