Antibe Therapeutics Inc (ATBPF)

[djmurdock]

Short form Prospectus is available on sedar.

The Company intends to use the net proceeds of the Offering to increase the sample size of the upcoming Phase 2B dose-ranging, efficacy study for ATB-346. Based on the encouraging COX inhibition data from the human metabolism study completed in November 2018, the Company has increased the sample size of the upcoming study to 360 patients (from an originally planned 200 patients). This powers both the high dose (250 mg) and middle dose (200 mg) for statistical significance, and is expected to provide more robust efficacy data that can be leveraged for Phase 3 development and global partnering activity. This amendment to the study design is anticipated to cost an additional $1.15 million, bringing the total cost of the study to $4.35 million (net of prepayments).

The Company expects to fund $3.2 million of the total cost of the study with cash on hand plus expected warrant exercises and SR&ED credits, and anticipates funding the balance of $1.15 million with net proceeds from the Offering.

In addition, the Company intends to use the net proceeds of the Offering to fund certain activities for ATB-346 that will fulfill key requirements for the commencement of Phase 3 development and regulatory approval. These activities include: (i) long-range animal toxicology studies (6-month rat and 9-month canine studies); (ii) regulatory consulting fees for pre-IND and end-of-Phase-2 FDA meetings; and (iii) remaining pharmacokinetic metabolite studies.
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