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Antibe Therapeutics completes second tranche of IPO

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Antibe Therapeutics (CVE:ATE) said it has raised a total of $2.7 million after completing the second tranche of its initial public offering. 

When the Toronto-based pharmaceutical company went public in June, it had raised $2.1 million, as well as $155,100 in a private placement. In the second closing, Antibe raised $602,800.

Antibe's lab work focuses on updating existing drugs by linking an off-patent drug to its hydrogen sulfide-releasing molecule for the treatment of inflammation, pain or vascular dysfunction.

Antibe's team includes a Nobel Prize winner, entrepreneurs and senior scientists affiliated with major research institutions worldwide.

As of the end of March, the company had $194,301 in cash on hand, a 108% rise from the end of last March. In fiscal 2013, the company reported a loss of $1 million or five cents a share. 

Shares were unchanged on Wednesday at 54 cents a share. 

Quick facts: Antibe Therapeutics Inc

Price: 0.42 CAD

TSX-V:ATE
Market: TSX-V
Market Cap: $113.49 m
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Antibe Therapeutics is looking to the future after successful past year

Antibe Therapeutics  (CVE:ATE-OTCQB:ATBPF) CEO Dan Legault joined Steve Darling from the Proactive Investors Toronto studio to discuss his recent letter to the shareholders in which he outlined the company’s last year. Legault also talked about the year ahead and the prep work they...

on 07/04/2019

2 min read