Biopharmaceutical company AN2 Therapeutics, Inc. (Nasdaq: ANTX) began trading on the Nasdaq Global Select Market today. The firm’s initial public offering is looking to raise US$69.0 million and is expected to close on March 29, 2022.
The offering consists of 4.6 million common shares, upsized from 4.0 million shares, selling at US$15.00 per share. The company intends to use the proceeds to fund the clinical development and expansion of its drug candidate epetraborole, and for general corporate purposes, including working capital and operating expenses.
Cowen, SVB Leerink, and Evercore ISI act as the joint bookrunners for the said offering. The underwriters were granted a 30-day over-allotment option to purchase additional 690,000 shares at the same IPO price.
The Menlo Park-based biotech company is focused on developing epetraborole, an experimental oral treatment for patients with chronic non-tuberculous mycobacterial lung disease.
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