AN2 Therapeutics downgraded to In Line from Outperform at Evercore ISI

Evercore ISI downgraded AN2 Therapeutics to In Line from Outperform with a price target of $7, down from $25, after having connected with management regarding today’s announcement of a voluntarily pause of enrollment in the Phase 3 study of epetroborole in refractory MAC lung disease. The safety board will unblind the data and make a recommendation regarding the ongoing Phase 3 study 2 and that recommendation is expected in early Q2, which AN2 will communicate to the Street, noted the analyst, who is moving to the sideline until there is more visibility.