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Antibe Therapeutics expects results from Phase 2B study of pain drug ATB-346 within six weeks

Antibe's clinical research organization Veristat completed the trial and captured all patient data from 360 participants across 40 clinical sites

Antibe Therapeutics Inc -
ATB-346 is being developed to work as an alternative to nonsteroidal anti-inflammatory drugs

Antibe Therapeutics Inc (CVE:ATE) (OTCQB:ATBPF) has told shareholders that it expects to release topline results from the Phase 2B study of its flagship pain drug ATB-346 within six weeks.

The company said that its clinical research organization Veristat completed the trial and was able to capture all patient data from 360 participants across 40 clinical sites.

Toronto-based Antibe’s original timeline to release results was impacted by the ongoing coronavirus (COVID-19) pandemic that caused governments and healthcare providers to impose hospital restrictions and clinic closures.

READ: Echelon rates Antibe Therapeutics as 'top pick' as investors eagerly await Phase II data from ATB-346 study

The restrictions, coupled with work-from-home constraints, slowed Veristat’s data collection, validation and analysis beyond the original timeframe, Antibe told shareholders.

“Although the world is facing singular challenges in light of the COVID-19 health crisis, we are fortunate to have successfully completed the collection of data for every patient enrolled in the study,” Antibe CEO Dan Legault said in a statement.

“Validating and processing these data is a non-trivial task in the current environment, especially given the study’s large number of sites. Although later than anticipated, we look forward to delivering robust and complete top-line data as soon as possible.”

ATB-346 is being developed to work as an alternative to nonsteroidal anti-inflammatory drugs, or NSAIDs. The current Phase 2 trial is designed to validate ATB-346’s effectiveness compared to placebo in reducing osteoarthritis pain.

Antibe also said its cash balance of C$6 million was sufficient to see the company through the upcoming data readout and beyond.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Antibe Therapeutics Inc

Price: 0.32 CAD

TSX-V:ATE
Market: TSX-V
Market Cap: $123.35 m
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Antibe Therapeutics releases data from company’s Phase II placebo-controlled...

Antibe Therapeutics (CVE: ATE) CEO Dan Legault joined Steve Darling from Proactive Vancouver with new results from the company’s analysis of primary and secondary data from ATB-346’s recent placebo-controlled efficacy trial. Legault shares the data with Proactive and he also maps out the...

on 08/12/2020

2 min read