Antibe Therpeutics ( Antibe Therpeutics Stock Quote, Chart, News TSXV:ATE)
Rating: Speculative Buy
Target: $1.40
Projected Return: 259 per cent
Ontario-based drug developer Antibe stays as a Top Pick, according to Loe, who says that the company’s lead hydrogen sulfide-releasing naproxen analog ATB-346 should deliver Phase II data soon and that the drug’s properties will be sufficiently demonstrated to justify advancing into more substantive Phase II/III testing.
“ATE was one of our Top Picks in Q319, generating trailing quarterly return of 22 per cent that we believe reflects favourably on market optimism for ATB-346 clinical performance in the aforementioned trial, optimism we clearly share,” says Loe.
“Our ATE valuation continues to be solely focused on ATB-346 and not yet to other preclinical-stage hydrogen sulfide-releasing analogs that Antibe is developing in the background, including post-surgical pain-targeted ketoprofen analog ATB-352 and stroke prevention-targeted acetylsalicylic acid analog ATB-340, though we expect to revisit our valuation assumptions for these pipeline candidates if/when formal clinical testing commences,” he said.
Currently, Antibe is enrolling patients in the Phase II ATB-346 trial at four Ontario-based pain centres in collaboration with regional CRO Veristat, with data from the trial potentially proving to be a significant inflection point, says Loe.
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