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Antibe Therapeutics Inc(Pre-Merger) ATBPF

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.


GREY:ATBPF - Post by User

Post by Duster340on Jun 07, 2021 10:59am
148 Views
Post# 33339955

Biogen

Biogen

Will Biogen’s Alzheimer’s Drug Get the FDA’s Nod of Approval? Analyst Weighs In

TipRanks
·2 min read
 
 

So far, Alzheimer’s disease is one puzzle the medical community has been unable to solve, and there are currently no available treatments to halt the progress of the memory obliterating disease.

That could all change today, when Biogen’s (BIIB) controversial Alzheimer’s drug aducanumab’s fate is decided by the regulators. The FDA’s decision will act as a major catalyst to send the stock higher or lower. The consensus on Wall Street is that the drug’s chances of approval are slim. Jefferies analyst Michael Yee, however, has a more optimistic take.

“We think approval is 50-60% and higher than consensus 25-30%,” the analyst said. “We get the sense HC specialists agree it's reasonably possible FDA could approve it while the broader market doesn’t think it will get approved and cannot get over a unanimous negative Adcom panel. In fact, the stock hasn't recovered much since the negative vote in Q4 as a reflection it was a pretty ominous sign.”

 

Recall, last year an FDA advisory panel voted against approving the drug, and while the FDA does not have to follow the panel’s lead, the decision was a blow to investors’ confidence.

So, what kind of impact will a positive or negative decision have on the stock’s performance? Yee reckons that a positive outcome will send shares up to $400 – a 40% jump from current levels. Should the FDA reject aducanumab, Yee expects the stock to drop to between $175 and $200, a 34% decline at the mid-point.

That said, Yee believes that if the shares do end up taking a beating, there could be an opportunity for investors to get in at a discounted price, as Yee sees “strategic value for the business and pipeline.”


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