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) > Update

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Comment by clubhouse19on Feb 26, 2021 1:13pm

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Post# 32672263

RE:RE:RE:RE:RE:RE:RE:RE:Update

I can't find that text on page 12 ..
I was referring to the final prspectus dated Jan 13..

Did I miss something

Pragmatist wrote:

clubhouse19 wrote: I have attached the prospectus for this offering. Look at the projected cash flow on page 9 for 2021 under use of proceeds.. I don't see anything with regards ato amalgamation of IP. Or can they come under another heading ?

https://www.sedar.com/GetFile.do?lang=EN&docClass=9&issuerNo=00034225&issuerType=03&projectNo=03148234&docId=4868611

If you look at page 12 of the SUPPLEMENT, you will see that it identifies $15.5M +$5M from the over allotment for working capital and general corporate purposes. Also, followed by the statement: "there may be circumstances where, for sound business reasons, a reallocation of funds may be prudent or necessary, and may vary materially from that set forth above." So there is some flexibilty here, particularly when considering the other available funds.

Payment for the IP by cash, in whole or in part, whether upfront or in association with downstream milestone payments, is just one option, and maybe not the most likely. The advantages are that Wallace/Legault would prefer cash over shares, and it would avoid further dilution.

One very plausible scenario is that the company snags a big partnering deal with a sizable upfront payment, and the partner pays for PH 3. In this case the company would be flush with cash and payment for IP in cash would make sense.

Regarding dilution, the deal pays broker warrants in addition to the broker fees, in terms of 6% of the sold shares, exercisable at $6 for two years. Distributed to the underwriters as follows: Canaccord 50%; Bloom Burton 35%; and Echelon, Leede James Gable and Paradigm, 5% each.

clubhouse19 wrote: It would have had to be specified in the prospectus. Has it been ?

crow27 wrote: There is no mention that any of the 74 million in the bank is being used for the AH merger.
Can you say phase 3? So many nervous nellies on this board.