- AN2 Therapeutics is expected to sell more than eight million shares of common stock at $2.85 per share.
- The private placement includes participation from institutional investors such as Coastlands Capital, Commodore Capital, and Vivo Capital.
- The stock has gained more than 500% over four sessions since the company announced positive results for its blood cancer treatment.
Shares of AN2 Therapeutics (ANTX) surged more than 110% on Monday, after the clinical-stage biopharmaceutical company announced that it signed a securities purchase agreement for a private placement expected to raise about $40 million in gross proceeds.
ANTX shares recorded their biggest-ever intraday gains.
As part of the deal, AN2 Therapeutics will sell 8.25 million shares of common stock at $2.85 per share, which was also the stock’s closing price on Friday. The company also offered investors the option to purchase pre-funded warrants to acquire up to 5.79 million additional shares at nearly the same price, with an exercise price of $0.00001 per share.
The private placement is expected to close on March 10, 2026, and includes participation from institutional investors such as Coastlands Capital, Commodore Capital, and Vivo Capital, along with other new and existing shareholders. AN2 Therapeutics did not disclose how it plans to use the proceeds from the offering.
500% Rally After Epetraborole Update
The stock has been on an extraordinary rally, adding nearly 500% over four sessions since the company announced plans to further develop its drug epetraborole into a Phase 2 proof-of-concept study for patients with Polycythemia Vera (PV) who rely on phlebotomy treatments.
PV is a blood cancer that causes the bone marrow to produce too many red blood cells, increasing the risk of serious complications such as blood clots.
Last week, AN2 Therapeutics said that its oral epetraborole produced consistent and sustained reductions in hematocrit across several studies involving healthy volunteers and other patient groups. The company expects to begin the Phase 2 study in the third quarter of 2026 and plans to provide initial trial updates by the following quarter.
How Did Stocktwits Users React?
Retail sentiment on Stocktwits remained ‘extremely bullish’ over the past 24 hours, amid ‘extremely high’ message volumes.
One user highlighted the various resistance levels, speculating that the stock could climb as high as $108.
However, another expressed confusion over the “bullish excitement.”
Year-to-date, the stock has gained more than 400%.
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