v3.26.1

CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 53,487	$ 19,941
Short-term investments	31,801	38,060
Prepaid expenses and other current assets	2,203	1,936
Total current assets	87,491	59,937
Long-term investments	0	2,013
Total assets	87,491	61,950
Current liabilities:
Accounts payable	2,615	3,021
Accrued compensation	613	2,418
Accrued liabilities	1,767	2,052
Other current liabilities	567	1,229
Total current liabilities	5,562	8,720
Other non-current liabilities	170	170
Total liabilities	5,732	8,890
Commitments and contingencies (Note 7)
Stockholders' equity:
Preferred stock, $0.00001 par value; 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025
Common stock, $0.00001 par value; 500,000,000 shares authorized at March 31, 2026 and December 31, 2025; 35,985,599 and 27,413,171 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively
Additional paid-in capital	332,742	293,953
Accumulated other comprehensive (loss) gain	(5)	57
Accumulated deficit	(250,978)	(240,950)
Total stockholders' equity	81,759	53,060
Total liabilities and stockholders' equity	$ 87,491	$ 61,950

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

AN2 Therapeutics, Inc. 10-Q