In a July 10 research note, analyst Douglas Loe reported that Echelon Wealth Partners bestowed Top Pick status on Antibe Therapeutics Inc. (ATE:TSX.V; ATBPF:OTCQX) ahead of a seminal Phase 2 data readout expected before the end of Q3/19.
Loe specified that the impending results will come from the company's 360-patient trial evaluating ATB-346 in multiple doses for osteoarthritis pain. ATB-346 is Antibe's lead drug candidate, a hydrogen sulfide-releasing naproxen derivative. "We are optimistic that the drug can generate measurable and perhaps clinically meaningful efficacy signals at one or more test doses (150, 200 or 250 milligrams, once daily)," in this study, he added.
One aspect of the data Echelon will be looking at when they're released is whether or not ATB-346 delivers both meaningful pain relief and gastroenterological protection, and does more so than naproxen treatment alone.
"We believe that pending ATB-346 efficacy data could be platform validating for Antibe's hydrogen sulfide-based drug modification platform and thus could be relevant to future clinical activities for these two secondary assets, and importantly to our investment thesis and valuation down the road," Loe highlighted.
Those two secondary assets in the company's pipeline, Loe noted, are ketoprofen analog ATB-352, possibly targeting chronic severe postsurgical pain, and acetylsalicylic acid analog ATB-340, probably targeting stroke prevention and anticoagulation.
Echelon has a Speculative Buy rating and a CA$1.40 per share target price on Antibe. The stock is currently trading at around CA$0.30 per share.[NLINSERT]
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Disclosures from Echelon Wealth Partners, Antibe Therapeutics Inc., July 10, 2019
Echelon Wealth Partners compensates its Research Analysts from a variety of sources. The Research Department is a cost centre and is funded by the business activities of Echelon Wealth Partners including, Institutional Equity Sales and Trading, Retail Sales and Corporate and Investment Banking.
I, Doug Loe, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.
Is this an issuer related or industry related publication? Issuer.
Does the Analyst or any member of the Analyst’s household have a financial interest in the securities of the subject issuer? Yes. If Yes: 1) Is it a long or short position? Long Position; and, 2) What type of security is it? Common Shares & Share Purchase Warrants.
Does the Analyst or household member serve as a Director or Officer or Advisory Board Member of the issuer? No
Does Echelon Wealth Partners Inc. or the Analyst have any actual material conflicts of interest with the issuer? No
Does Echelon Wealth Partners Inc. and/or one or more entities affiliated with Echelon Wealth Partners Inc. beneficially own common shares (or any other class of common equity securities) of this issuer which constitutes more than 1% of the presently issued and outstanding shares of the issuer? Yes
During the last 12 months, has Echelon Wealth Partners Inc. provided financial advice to and/or, either on its own or as a syndicate member, participated in a public offering, or private placement of securities of this issuer? Yes
During the last 12 months, has Echelon Wealth Partners Inc. received compensation for having provided investment banking or related services to this Issuer? Yes
Has the Analyst had an onsite visit with the Issuer within the last 12 months? No
Has the Analyst or any Partner, Director or Officer been compensated for travel expenses incurred as a result of an onsite visit with the Issuer within the last 12 months? No
Has the Analyst received any compensation from the subject company in the past 12 months? No
Is Echelon Wealth Partners Inc. a market maker in the issuer’s securities at the date of this report? No