{"id":47274,"date":"2022-08-15T13:02:17","date_gmt":"2022-08-15T11:02:17","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/antibe-therapeutics-reports-q1-2023-interim-financial-and-operating-results\/"},"modified":"2022-08-15T13:02:17","modified_gmt":"2022-08-15T11:02:17","slug":"antibe-therapeutics-reports-q1-2023-interim-financial-and-operating-results","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/antibe-therapeutics-reports-q1-2023-interim-financial-and-operating-results\/","title":{"rendered":"Antibe Therapeutics Reports Q1 2023 Interim Financial and Operating Results"},"content":{"rendered":"<div>\n<p class=\"bwalignc\">\n<b><i>&#8211; Phase II acute pain program to initiate in September<\/i><\/b>\n<\/p>\n<p class=\"bwalignc\">\n<b><i>&#8211; Ended quarter with $50 million in cash and equivalents, providing over two years of runway<\/i><\/b>\n<\/p>\n<p>TORONTO&#8211;(BUSINESS WIRE)&#8211;<a href=\"https:\/\/twitter.com\/search?q=%24ATBPF&amp;src=ctag\" target=\"_blank\" rel=\"noopener\">$ATBPF<\/a>&#8211;Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical stage company leveraging its hydrogen sulfide platform to develop next-generation safer therapies that target inflammation, has filed its financial and operating results for the fiscal quarter ended June 30, 2022.\n<\/p>\n<p><a href=\"https:\/\/mms.businesswire.com\/media\/20220815005193\/en\/718346\/5\/ANTIBE-logo-RGB.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20220815005193\/en\/718346\/21\/ANTIBE-logo-RGB.jpg\"><\/a><\/p>\n<p>\n\u201cWe are really pleased with our progress,\u201d commented Dan Legault, Antibe\u2019s CEO. \u201cThe data we\u2019ve collected supports otenaproxesul\u2019s target profile as a GI-safe, non-opioid oral analgesic for acute pain \u2013 a multi-billion dollar market devoid of innovation and in great need of novel therapies. We\u2019re particularly excited to launch the Phase II molar extraction study next month, enabling us to collect data in post-operative patients for the first time. The results of this study should allow us to identify the optimal dosing regimens for the larger Phase II bunionectomy trial next year.\u201d\n<\/p>\n<p>\n<b>Business Highlights and Operational Update<\/b>\n<\/p>\n<p>\n<i>Preparations on track for otenaproxesul\u2019s Phase II program for acute pain<\/i>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nCompleted loading dose pharmacokinetic\/pharmacodynamic (\u201cPK\/PD\u201d) study in the quarter; results suggest viable onset of action for acute pain relief\n<\/li>\n<li>\nUpcoming Phase II molar (wisdom tooth) extraction study to obtain PK\/PD data and exploratory pain endpoints in post-operative patients \u2013 study to initiate in September with results expected by January 2023\n<\/li>\n<li>\nOngoing investigation of alternative treatment regimens as a potential path forward for chronic indications\n<\/li>\n<\/ul>\n<p>\n<i>Inflammatory bowel disease program nearing lead selection<\/i>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nIdentified three additional promising candidates for inflammatory bowel disease program \u2013 lead candidate to be chosen next quarter\n<\/li>\n<\/ul>\n<p>\n<i>Corporate and governance<\/i>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nSigned binding agreement to sell Citagenix in a $6.5 million all-cash transaction, including milestones\n<\/li>\n<li>\nAppointed Robert E. Hoffman as new Board Chair; former Chair, Walt Macnee, and Antibe\u2019s founder, Dr. John L. Wallace, appointed as corporate Vice Chairs\n<\/li>\n<\/ul>\n<p>\n<b>Upcoming Milestones<\/b>\n<\/p>\n<p>\nThe following summarizes the Company\u2019s estimated timeline for its key upcoming milestones:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nPhase II third molar extraction trial initiation \u2013 calendar Q3 2022\n<\/li>\n<li>\nIdentify lead candidate for inflammatory bowel disease \u2013 calendar Q4 2022\n<\/li>\n<li>\nPhase II third molar extraction trial results \u2013 early calendar Q1 2023\n<\/li>\n<li>\nPhase II bunionectomy trial initiation \u2013 calendar H1 2023\n<\/li>\n<\/ul>\n<p>\n<b>Financial Results<\/b>\n<\/p>\n<p>\n<b>Cash Position:<\/b> As of June 30, 2022, the Company had an available cash balance and term deposits totaling $50.2 million, compared to $54.8 million as at March 31, 2022.\n<\/p>\n<p>\n<b>Net Loss: <\/b>For the quarter ended June 30, 2022, Net Loss and Comprehensive Loss totaled $5.5 million ($0.10 per share), compared to $6.3 million ($0.13 per share) for fiscal Q1 2022.\n<\/p>\n<p>\n<b>Research and Development Expenses: <\/b>Research and development expenses for the quarter, net of research tax credits, amounted to $3.8 million, compared to $3.2 million for fiscal Q1 2022.\n<\/p>\n<p>\n<b>General and Administrative Expenses: <\/b>General and administrative expenses were $1.1 million for the quarter, compared to $1.3 million in fiscal Q1 2022.\n<\/p>\n<p>\nThe Company\u2019s unaudited fiscal Q1 2023 condensed interim financial statements and MD&amp;A will be available shortly on SEDAR.\n<\/p>\n<p>\n<b>About Antibe Therapeutics Inc.<br \/>\n<br \/><\/b>Antibe is a clinical stage biotechnology company leveraging its proprietary hydrogen sulfide platform to develop next-generation safer therapies to target inflammation arising from a wide range of medical conditions. The Company\u2019s current pipeline includes assets that seek to overcome the gastrointestinal (\u201cGI\u201d) ulcers and bleeding associated with nonsteroidal anti-inflammatory drugs (\u201cNSAIDs\u201d). Antibe\u2019s lead drug, otenaproxesul, is in clinical development as a safer alternative to opioids and today\u2019s NSAIDs for acute pain. Antibe\u2019s second pipeline drug, ATB-352, is being developed for a specialized pain indication. The Company\u2019s anticipated next target is inflammatory bowel disease (\u201cIBD\u201d), a condition long in need of safer, more effective therapies. Learn more at <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fantibethera.com&amp;esheet=52813282&amp;newsitemid=20220815005193&amp;lan=en-US&amp;anchor=antibethera.com&amp;index=1&amp;md5=6b091299206ee7b38374b1d58f188fe9\" rel=\"nofollow noopener\" shape=\"rect\">antibethera.com<\/a>.\n<\/p>\n<p>\n<b>Forward Looking Information<br \/>\n<br \/><\/b>This news release includes certain forward-looking statements under applicable securities laws, which may include, but are not limited to, the anticipated scope, timing, duration and completion of certain of the Company\u2019s clinical trial programs and studies and the anticipated timing for seeking market approval for certain of the Company\u2019s drugs and therapies for certain additional indications. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions \u201cwill\u201d, \u201canticipate\u201d, \u201cbelieve\u201d, \u201cplan\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cintend\u201d, \u201cpropose\u201d and similar wording. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company\u2019s inability to timely execute on its business strategy and timely and successfully compete its clinical trials and studies, the Company\u2019s inability to obtain the necessary regulatory approvals related to its activities, risks associated with drug and medical device development generally and those risk factors set forth in the Company\u2019s public filings made in Canada and available on <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedar.com&amp;esheet=52813282&amp;newsitemid=20220815005193&amp;lan=en-US&amp;anchor=www.sedar.com&amp;index=2&amp;md5=2fba888d22a1e80cc7a6b2647fc43b51\" rel=\"nofollow noopener\" shape=\"rect\">www.sedar.com<\/a>. The Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.\n<\/p>\n<p> <b>Contacts<\/b> <\/p>\n<p>\nAntibe Therapeutics Inc.<br \/>\n<br \/>Christina Cameron<br \/>\n<br \/>VP Investor Relations<br \/>\n<br \/>+1 416-577-1443<br \/>\n<br \/><a target=\"_blank\" href=\"&#109;&#x61;i&#x6c;&#x74;&#111;&#x3a;c&#104;&#x72;&#105;&#x73;t&#105;&#x6e;a&#x40;a&#110;&#x74;i&#x62;&#x65;&#116;&#x68;e&#114;&#x61;&#46;&#x63;o&#109;\" rel=\"nofollow noopener\" shape=\"rect\">c&#104;&#114;&#105;&#x73;&#x74;&#x69;na&#64;&#97;&#x6e;&#x74;&#x69;&#x62;et&#104;&#101;&#x72;&#x61;&#x2e;&#x63;o&#109;<\/a>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#8211; Phase II acute pain program to initiate in September &#8211; Ended quarter with $50 million in cash and equivalents, providing over two years of runway TORONTO&#8211;(BUSINESS WIRE)&#8211;$ATBPF&#8211;Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical stage company leveraging its hydrogen sulfide platform to develop next-generation safer therapies that target inflammation, has filed its financial &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/pharma-trend.com\/en\/antibe-therapeutics-reports-q1-2023-interim-financial-and-operating-results\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-47274","6":"format-standard","7":"category-industry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Antibe Therapeutics Reports Q1 2023 Interim Financial and Operating Results - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/antibe-therapeutics-reports-q1-2023-interim-financial-and-operating-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Antibe Therapeutics Reports Q1 2023 Interim Financial and Operating Results - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"&#8211; Phase II acute pain program to initiate in September &#8211; Ended quarter with $50 million in cash and equivalents, providing over two years of runway TORONTO&#8211;(BUSINESS WIRE)&#8211;$ATBPF&#8211;Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical stage company leveraging its hydrogen sulfide platform to develop next-generation safer therapies that target inflammation, has filed its financial ... 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(TSX: ATE, OTCQX: ATBPF), a clinical stage company leveraging its hydrogen sulfide platform to develop next-generation safer therapies that target inflammation, has filed its financial ... 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