Antibe Therapeutics Inc(Pre-Merger) ATBPF

Healthcare

Antibe Therapeutics Inc. is a clinical-stage biotechnology company. The Company is leveraging its hydrogen sulfide (H2S) platform to develop therapies to target inflammation arising from a range of medical conditions. The Company’s pipeline includes assets that seek to overcome the gastrointestinal ulcers and bleeding associated with nonsteroidal anti-inflammatory drugs (NSAIDs). Its lead drug, otenaproxesul, is in clinical development as an alternative to opioids and NSAIDs for acute pain. Its second pipeline drug, ATB-352, is being developed for a specialized pain indication. The Company also focuses on inflammatory bowel disease (IBD). Otenaproxesul combines a moiety that releases hydrogen sulfide with naproxen, a non-steroidal, anti-inflammatory drug. ATB-352 is an H2S-releasing derivative of ketoprofen, a potent NSAID commonly prescribed for acute pain. Its IBD candidates are being designed to maintain the efficacy, safety, and pharmacokinetic properties of ATB-429.

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Antibe Therapeutics Inc(Pre-Merger)

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Comment by RalphRalphon Nov 08, 2020 7:21pm

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Post# 31860121

RE:RE:RE:RE:RE:RE:RE:RE:RE:Opinion

Numerous biotech companies have experienced obstacles like Antibe's (or worse); very few (if any) purchase a vastly unrelated subsidiary company as a result. If you know of other situations where such a purchase occurred, I'd be interested to hear.

A setback like the one you referenced is not automatically game over for a company; portraying the Citagenix acquisition as something they absolutely needed to do in order to keep the company afloat is misleading. There were most certainly other options that did not include heavily diluting shareholders to purchase a dental company. If you have reason to believe that was not the case, please let me know.

Good management protects shareholder interests & creates value for the shareholders. Good management does not aim to simply keep the company afloat. I would argue that this management team has thus far done a poor job of monetizing the IP and creating value for shareholders.

MrMugsy wrote: Hey guys, we've been down this road a few times and in the end, our opinions don't really matter much. There are enough votes to keep Dan in the position of CEO until he retires (IMO).

But ...

Let's just look at January 2015 for a moment ... that's the point where Phase 1 was suspended and the entire company was in a standstill. The fear was that the dream was over.

What did the company do? They made a purchase to further pursue H2S technology for membrane and bone products. In February of 2016 the company bought a minority stake in Citagenix. The goal was to keep the company going ... to do something for the value of the companies shares. This was as much a decision by John as it was by Dan. Actually, it would have been a decision by the entire Board.

Lucky for us, they didn't need to pursue this back-up plan once they learned what really happened in ATB-346 Phase 1 trials. The company was able to get back on track in a much larger industry.

So - I'm not sure I'd call any of that "bad management" but I would see it as a panicked time and a panicked team that for a moment ... faught to keep a technology from dying.

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For what it's worth.