Antibe Therapeutics Inc(Pre-Merger) T.ATE

Becareful! risky stock

[Duster340]

we still are waiting for answers , nothing new since the news release on apr/1st

April 1, 2024

Antibe Announces FDA Clinical Hold on Otenaproxesul and Legal Action by Nuance
 

Antibe Therapeutics Inc. (“Antibe” or the “Company” TSX: ATE, OTCQX: ATBPF) today announced that it received verbal notice on the afternoon of March 28, 2024 from the U.S. Food and Drug Administration (“FDA”) that otenaproxesul has been placed on clinical hold, postponing the initiation of the planned Phase II trial. Antibe expects to receive a formal Clinical Hold Letter from the FDA within 30 days outlining their rationale and further details.
 
Separately, the Company announced that Nuance Pharma Limited has commenced legal action in the Ontario Superior Court of Justice to seek recognition of and enforce the arbitration award in Ontario previously announced by Antibe in its press release of March 4, 2024. Nuance Pharma is seeking the appointment of a receiver as part of its relief; a hearing date has not been set.
 
In light of these developments and to better coordinate operational and governance matters, the Company's Board of Directors is forming an Executive Committee composed of Robert E. Hoffman, Chair of the Board; Dan Legault, CEO; and Yung Wu, Member of the Board.
 
Antibe will promptly inform the market when any additional material information is available.

[Bobloblaw2]

There won't be a P2 trial if the funding is put on hold due to the Nuance law suit until the matter is settled. And I don't think the FDA clinical hold has as much to do with the science but the timing of the arbitrators ruling and financing P2 with funds that should be earmarked for Nuance. Just my opinion as a long investor since 2017...in for a penny, in for a pound! I agree though

[Inthepez]

Hey look it's another dumpster account made yesterday... you get bet on dumpster to change his tune when he's penny flipping...telegraphing a mile away.  LOL