Sale and remaining holdings
Eizen sold 2,826 common shares for $4.22 each, leaving him with 207,546 shares held directly. That remaining balance includes 3,818 shares he purchased on September 30, 2026, through AN2's 2022 Employee Stock Purchase Plan.
InvestingPro data showed AN2 shares down roughly 12% over the past week but up 251% year to date. The platform classified the stock as overvalued against its Fair Value estimate and included AN2 on its Most Overvalued list.
Epetraborole trial cleared to proceed
Three days before the sale, on November 2, AN2 announced that the U.S. Food and Drug Administration had cleared its Investigational New Drug application for epetraborole in polycythemia vera (PV). With that decision, the company said it had regulatory clearance in Australia, India and the United States, all the jurisdictions planned for its global Phase 2 study. AN2 expected to begin the trial in the fourth quarter of 2026.
The company estimates that PV affects approximately 155,000 people in the United States. It describes PV as a blood cancer in which excess red blood cell production can increase hematocrit and lead to arterial and venous thromboembolic events.
The planned study of oral epetraborole would begin with an open-label sentinel cohort and an open-label dose-optimization cohort to select a dose in Part 1. Part 2 would use a randomized, double-blind, placebo-controlled design, followed by an optional open-label extension in Part 3.
Guggenheim had highlighted the drug's potential when it began covering AN2 on July 20, 2026, assigning a buy rating and a $9.00 price target. The firm said epetraborole could become the first oral drug to control hematocrit in PV. At the time, Guggenheim cited AN2's approximately $200 million market capitalization and current PV sales ranging from $500 million to $1 billion for Jakafi and Besremi.
Other development programs
AN2 has also reported results for AN2-502998, its experimental oral treatment for chronic Chagas disease. According to the company, the candidate completely eliminated the parasite Trypanosoma cruzi in nonhuman primates, with elimination sustained for four months after treatment ended. AN2 separately reported a favorable safety and tolerability profile in Phase 1 for chronic Chagas disease.
The company describes a development pipeline covering hematologic diseases, infectious diseases and oncology, with three Phase 2 programs expected to be active in 2026. Its preclinical and research work also includes programs in oncology, bone disorders and infectious diseases.
