SanaCurrents is closing its position in Antibe this week, due to strong share performance and lack of clarity on key data.
In the past year, Antibe Therapeutics (ATE:CN) (OTCQB: ATBPF) ($0.48, $145.5m market cap) delivered solid progress on the phase IIb efficacy trial of its pain relief drug ATB-346. The company completed its expansion on the number of centers testing the drug and completed enrollment of 360 subjects.
Antibe, however, has yet to disclose the final efficacy data, which originally was to be announced in 3Q 2019. While preparing the final data set can take more time than planned, SanaCurrents is closing its position in Antibe this week. Antibe shares have more than doubled in the past year.
While SanaCurrents’ maintains its pivotal sentiment on the trial catalyst that was disclosed to SanaCurrents subscribers on February 15, 2019, Antibe likely will have difficulty finding a phase III partner, or funding a late-stage trial, in the new coronavirus environment. Some upside may be lost in closing Antibe now but the current investment and regulatory tide points to choppy waters for the progress of ATB-346.