AGM summary Good summary from the ATE group:
Some quick points from this morning's AGM
I'm sure I'll miss a lot as I'm going off of memory, so if you have more points feel free to add them in the comments and I'll edit this post.
\- We're waiting on analysis from all the samples collected during and after AME. ETA is around October.
\- Not surprisingly, negotiations have been impacted by the AME pause and elevated liver enzymes. Again, anxiously waiting for sample analysis and results from the AME.
\- They couldn't share any new information regarding the AME details as they come in, but Joe mentioned that they believe the elevated liver enzymes were likely dosage related and not caused by external influence. Patients were confined in the treatment facility during the entirety of the AME and were confirmed to have either been negative and vaccinated or unvaccinated and negative before and during the study.
\- Dan estimates about a 12 month delay due to AME pause.
\- We're well funded all the way through part of Phase 3. Dan assured that they won't be raising funds nor needing cash up until then (by which point, we'll likely have deals/partnerships lined up <- I'm adding this, Dan didn't say this outright).
\- Nuance will not be conducting Phase 3 in China. This isn't news, just clarification by Dan. Antibe conducts Phase 3 and the Nuance deal moves forward from there.
\- They're ready for Nasdaq listing, but AME pause has obviously drastically affected the price. They were originally set to uplist with the start of Phase 3. Uplisting will occur at the opportune time - likely when price has recovered a bit. My guess is either after positive AME results in October (If the elevated liver enzymes end up being caused by something minor - I'm being optimistic here) or most likely after the completion of Phase 2 and start of Phase 3.
\- Another Phase 2 will be conducted (hence the 12 month-ish delay). Will be much smaller than previous Phase 2 and will explore lowest effective dose. 50-75mg doses are likely candidates, but they've stated how they're surprised at the potency of otenaproxesul. Although not an apples to apples comparison, our current doses are comparable to COX inhibition seen in 500mg prescription doses of naproxen.
\- They're working with the government regarding the use of their pathway for COVID related treatments. Dan mentioned that studies in test tubes have been super promising thus far.
\- They'll be exploring advancements to ATB-352 to extend patent rights
All in all, Dan and co. were obviously concerned about the AME pause, but remained optimistic on the outlook. I don't believe it's my blind trust in the team, but they're super competent and I always feel reassured after having listened to their talks/interviews/meetings/etc. Although they are taking the AME pause very seriously, they believe it'll be a small speed-bump on the road to getting these drugs to market.
Regarding shares, I'm accumulating more at these prices, with a larger amount of cash waiting for the AME results and analysis (not financial advice, please do your own due diligence). Of course there's still risk, but it looks to me that we'll still be going full steam ahead with a lower dose once the AME results are out. Otena is surprisingly potent!