AN2 Therapeutics (ANTX) Operating Expenses (2021 - 2026)

AN2 Therapeutics' (ANTX) quarterly Operating Expenses came in at $10.6 million in Q1 2026, down 8.55% year-on-year from $11.5 million in Q1 2025, and up 13.26% on a QoQ basis from $9.3 million in Q4 2025.

AN2 Therapeutics (ANTX) Operating Expenses (2021 - 2026) Analysis & Trends

AN2 Therapeutics (ANTX) has 6 years of Operating Expenses data on file, last reported at $10.6 million in Q1 2026.

  • On a quarterly basis, Operating Expenses fell 8.55% year-over-year to $10.6 million in Q1 2026; TTM through Mar 2026 was $37.1 million, a 25.8% decrease from a year earlier, with the FY2025 full-year figure at $38.1 million, down 32.89% from the prior year.
  • Operating Expenses for Q1 2026 stood at $10.6 million, up from $9.3 million in the prior quarter.
  • Over the last five years, Operating Expenses for ANTX reached as high as $18.8 million in Q4 2023 and fell as low as $7.2 million in Q2 2025.
  • Historically, Operating Expenses has averaged $12.8 million across 5 years, with a median of $11.8 million in 2022.
  • Across the five-year window, Operating Expenses jumped 274.78% in 2022 and tumbled 54.56% in 2025, its largest moves.
  • Year by year, Operating Expenses stood at $12.5 million in 2022, then jumped by 50.81% to $18.8 million in 2023, then slumped by 54.3% to $8.6 million in 2024, then rose by 8.35% to $9.3 million in 2025, then climbed by 13.26% to $10.6 million in 2026.
  • Per Business Quant data, the three most recent Operating Expenses figures were $10.6 million in Q1 2026, $9.3 million in Q4 2025, and $10.0 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Oculis Holding AG 68,785.72 Bn 68,785.72 Bn - -28.01 Mn
2 Nanobiotix 1,895.57 Bn 1,895.51 Bn - -
3 BeOne Medicines 471.35 Bn 466.56 Bn 1.35 Bn 1.10 Bn
4 NuCana 279.75 Bn 279.75 Bn - -3.78 Mn
5 Vertex Pharmaceuticals 120.24 Bn 113.00 Bn 2.59 Bn 1.85 Bn
6 Regeneron Pharmaceuticals 67.80 Bn 59.04 Bn 3.31 Bn 2.96 Bn
7 Belite Bio 62.51 Bn 62.51 Bn - 32.68 Mn
8 Argenx Se 57.38 Bn 57.38 Bn 1.41 Bn 2.89 Bn
9 Revolution Medicines 37.78 Bn 37.78 Bn - 445.22 Mn
10 AN2 Therapeutics 167.57 Mn 167.57 Mn - 10.55 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 10.55 Mn
Dec 31, 2025 9.32 Mn
Sep 30, 2025 10.04 Mn
Jun 30, 2025 7.22 Mn
Mar 31, 2025 11.54 Mn
Dec 31, 2024 8.60 Mn
Sep 30, 2024 14.01 Mn
Jun 30, 2024 15.88 Mn
Mar 31, 2024 18.30 Mn
Dec 31, 2023 18.82 Mn
Sep 30, 2023 18.18 Mn
Jun 30, 2023 16.60 Mn
Mar 31, 2023 16.04 Mn
Dec 31, 2022 12.48 Mn
Sep 30, 2022 11.77 Mn
Jun 30, 2022 10.33 Mn
Mar 31, 2022 7.68 Mn
Dec 31, 2021 7.59 Mn
Sep 30, 2021 6.93 Mn
Jun 30, 2021 5.00 Mn