Antibe Therapeutics Inc (OTCMKTS:ATBPF) shares absolutely exploded higher to start the week in reaction to positive news on the drug front. The move took shares miles above the stock’s 50-day simple moving average and made a massive technical statement. So, why did this happen?
The company just announced that its lead drug, ATB-346, met its primary endpoint in the Phase 2B gastrointestinal safety study. According to the release, “the double-blind study was conducted in 244 healthy volunteers and was designed to demonstrate the superiority of ATB-346 in GI safety compared to naproxen, the most prescribed nonsteroidal anti-inflammatory drug in the USA. Subjects on ATB-346 exhibited an ulceration rate of 2.5% versus an ulceration rate of 42.1% for subjects on naproxen at the end of the 2-week treatment period, with a very high degree of statistical significance (p<0.001). ATB-346 was also safe and well tolerated.”
Antibe Therapeutics Inc (OTCMKTS:ATBPF) casts itself, together with its subsidiaries, as a commercial-stage pharmaceutical company focused on pain, inflammation and regenerative medicine. Antibe’s lead drug, ATB-346, targets the global need for a safer non-steroidal anti-inflammatory drug for treating chronic pain and inflammation with non-addictive medication. Antibe’s subsidiary, Citagenix Inc., is a leader in Canada in the sales and marketing of tissue regenerative products servicing the dental and orthopaedic marketplaces.
The company’s lead compound is the ATB-346, a hydrogen sulfide-releasing derivative of naproxen that is in Phase II clinical study for the treatment of osteoarthritis, as well as to treat rheumatoid arthritis, ankylosing spondylitis, and general pain reduction. Its products also comprise ATB-352, which is in preclinical stage for the treatment of gout, dental pain, post-surgical pain, etc.; and ATB-340 that is in preclinical development stage for the treatment of cardiovascular disease and cancer chemoprevention.
In addition, it offers various tissue regenerating products, such as bone grafting and dental membrane solutions for the dental and orthopedic markets; and surgical instruments for dental surgery, plastic surgery, general surgery and specialties, and veterinary applications. Antibe Therapeutics Inc. was incorporated in 2009 and is headquartered in Toronto, Canada.
According to company materials, “Antibe develops safer medicines for pain and inflammation. Antibe’s technology involves linking a hydrogen sulfide-releasing molecule to an existing drug to produce a patented, improved medicine. Antibe’s lead drug ATB-346 targets the global need for a safer, non-addictive drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a non-addictive analgesic for treating severe acute pain, while ATB-340 is a GI-safe derivative of aspirin. Antibe’s subsidiary, Citagenix Inc., is a leader in the sales and marketing of tissue regenerative products servicing the orthopedic and dental marketplaces. Since its inception in 1997, Citagenix has become an important source of knowledge and experience for bone regeneration in the Canadian medical device industry. Citagenix is active in 15 countries, operating in Canada through its direct sales teams, and internationally via a network of distributor partnerships.”
Find out when $ATBPF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
Simply put: there’s nothing like positive study data to incite massive movement in a biotech stock. Expect this stock to suddenly be on everyone’s radar.
Antibe’s Chief Scientific Officer, John Wallace, commented, “The successful outcome of this study is the culmination of 15+ years of scientific research, and validates Antibe’s hydrogen sulfide-releasing technology. Gastrointestinal safety has been a major global concern with NSAIDs for decades and we now have clinical data unequivocally demonstrating a solution to this unmet and serious medical problem.”
Earning a current market cap value of $41.1M, ATBPF has a bankroll ($1.9M) of cash on the books, which compares with about $4.2M in total current liabilities. One should also note that debt has been growing over recent quarters. ATBPF is pulling in trailing 12-month revenues of $8.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 14%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $ATBPF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ATBPF, either long or short, and we have not been compensated for this article.