AN2 Therapeutics, Inc. (ANTX) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 11, 2026

Risk Assessment Details

Potential Dilution: 210.16% of current shares
Recent Dilution: 56.5% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
34M
Potential Supply
72M
Additional shares possible
Splits
None
Past 2 years

Summary

ANTX currently has 34.1M outstanding shares. with significant dilution risk as 71.6M authorized shares could dilute existing holders by 210.2%. The company has significantly diluted shareholders by 56.5% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 11, 2026

10-Q filing | 34.1M shares outstanding

34M 72M
Apr 09, 2026

S-3 filing: This S-3 filing from AN2 Therapeutics, Inc. details a shelf registration for up to $300,000,000 in the aggregate of common stock, preferred stock, and debt securities offered by the company, as well as 14,035,104 shares of common stock offered by selling securityholders.

27M 72M
Mar 17, 2026

10-K filing | 35.9M shares outstanding

36M 34M
Nov 12, 2025

10-Q filing | 27.4M shares outstanding

27M 34M
Aug 12, 2025

10-Q filing | 27.3M shares outstanding

27M 34M
May 13, 2025

10-Q filing | 30.1M shares outstanding

30M 34M
Mar 25, 2025

10-K filing | 29.8M shares outstanding

30M 34M
Nov 13, 2024

10-Q filing | 29.8M shares outstanding

30M 34M
Aug 13, 2024

10-Q filing | 29.8M shares outstanding

30M 34M
May 14, 2024

10-Q filing | 29.8M shares outstanding

30M 34M
Mar 29, 2024

10-K filing | 29.8M shares outstanding

30M 34M
Nov 09, 2023

10-Q filing | 29.7M shares outstanding

30M 34M
Aug 10, 2023

10-Q filing | 21.9M shares outstanding

22M 34M
May 11, 2023

10-Q filing | 19.4M shares outstanding

19M 34M
Apr 06, 2023

S-3 filing: AN2 Therapeutics, Inc. is filing an S-3 to offer and sell up to $300,000,000 of any combination of common stock, preferred stock and debt securities.

19M 34M
Mar 29, 2023

10-K filing | 19.4M shares outstanding

19M 0
Nov 09, 2022

10-Q filing | 19.3M shares outstanding

19M 0
Aug 11, 2022

10-Q filing | 19.3M shares outstanding

19M 0
May 10, 2022

10-Q filing | 19.4M shares outstanding

19M 0
Mar 21, 2022

S-1/A filing: S-1/A filing for an offering underwritten by Cowen, SVB Leerink, Evercore ISI, and Oppenheimer & Co. Lock-up agreements are in place for 180 days after the pricing of the offering.

N/A 0
Mar 04, 2022

S-1 filing: S-1 filing for an offering underwritten by Cowen, SVB Leerink, Evercore ISI, and Oppenheimer & Co. Lock-up agreements are in place for 180 days after the pricing date.

N/A 0
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