Infectious disease biotech halts late-stage trial due to subpar efficacy, shares plummet 70%

En­roll­ment for a late-stage tri­al by Cal­i­for­nia biotech AN2 Ther­a­peu­tics that was test­ing its lead drug can­di­date for My­cobac­teri­um avi­um com­plex (MAC) lung dis­ease was vol­un­tar­i­ly paused af­ter signs of “po­ten­tial­ly low­er than ex­pect­ed ef­fi­ca­cy,” send­ing the com­pa­ny’s shares plum­met­ing.

The biotech’s share price $AN­TX dropped to $5.33 on Mon­day’s news, down by as much as 73% from the pre­vi­ous day’s close of $20.

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