RE:Update from ATE.VThanks for the update from the IR dept. Confirms my read of the results. I've been investing in biotech stocks since the 90's, so I know that developing new drugs is very hard to do. People expect trials to be black and white, either good or bad, but often there are shades of grey and question marks that crop up. The only one I've seen recently in Canadian biotech that produced unambiguously positive results, with no question marks, was Aurinia's voclosporin trial for lupus-related kidney disease, and the stock price doubled the day after the results came out. The Antibe Ph 2B results show very strong efficacy compared to placebo for pain, but there remain some questions about the correct dose. The liver enzyme test results raise another question, but seem like a minor issue given that during the dosing portion of the trial, only1 patient had a problem, and the post-dosing issues are mainly from other drug usage or pre-existing conditions. I would imagine the fact that the next trial will be a Ph 2/3 with an dose ranging component to it, rather than a straight forward Ph 3, is seen as another question mark. How does that effect the partnership and/or financing that is coming? The stock market hates question marks. Hence, the drop in the price today.
Bottom line, though, this drug is a vastly safer version of a commonly used drug, and it works very well at reducing pain. I expect it will make it through the remaining aspects of the drug approval process and become a significant improvement to the pain management segment of the drug industry. I expect the stock should perform well over time. As with all small cap development type companies that aren't yet profitable, I just have a fairly small position here - invest a little in a lot of small caps to spread the risk around, and focus on the long term progress the company is making. Day to day stock price fluctuations are unpredictable and will distract you from the bigger picture.