Announcement • Apr 24
Antibe Therapeutics Inc. Announces Board Resignations Antibe Therapeutics Inc. announced that Roderick Flower, Robert Hoffman, Dan Legault, Walt Macnee and Yung Wu have resigned from Antibe’s Board of Directors. Announcement • Apr 09
Antibe Therapeutics Inc. Announces Board Resignations Antibe Therapeutics Inc. announced that Amal Khouri and Jennifer McNealey have resigned from its Board of Directors effective April 8, 2024. New Risk • Apr 02
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €6.00m (US$6.45m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (€6.00m market cap, or US$6.45m). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (CA$25m net loss in 3 years). New Risk • Feb 15
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: CA$18m Forecast net loss in 3 years: CA$10m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (CA$10m net loss in 3 years). Market cap is less than US$100m (€32.4m market cap, or US$34.8m). Board Change • Dec 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 3 highly experienced directors. Independent Chair of the Board Robert Hoffman was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Breakeven Date Change • Nov 14
No longer forecast to breakeven The 4 analysts covering Antibe Therapeutics no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$1.12m in 2026. New consensus forecast suggests the company will make a loss of CA$1.98m in 2026. Announcement • Nov 10
Antibe Therapeutics Inc. Reports PK Results of First Clinical Study of Otenaproxesul’s New Formulation Antibe Therapeutics Inc. announced the PK results of the pharmacokinetic/pharmacodynamic ("PK/PD") study of otenaproxesul's faster-absorbing formulation. The study was designed to confirm the drug's safety and inform the selection of treatment regimens for the upcoming Phase II trial, on track to launch in calendar First Quarter 2024. The PK/PD study involved 36 healthy volunteers, randomized across three treatment arms: a single high dose and two five-day regimens of o tenaproxesul. Subjects remained in-clinic for the duration of their treatment. As previously reported, all subjects completed the study with no clinically significant, drug-related adverse events and no increase in liver enzymes. In line with preclinical data and DILIsym liver safety modeling, the study confirmed the new formulation's linear, dose-proportional PK, with substantially lower doses needed to achieve target plasma levels compared to the original formulation. More rapid elimination was also observed, expanding the drug's safety envelope. These data provide the basis for selecting treatment regimens to achieve the pain relief expectations of patients, doctors and regulators. They also advance Antibe's exploration of potential treatment regimens for chronic pain. Announcement • Nov 02
Antibe Completes First Clinical Study of Otenaproxesul’s New Formulation Antibe Therapeutics Inc. announced the completion of the pharmacokinetic/pharmacodynamic (“PK/PD”) study of otenaproxesul’s faster-absorbing formulation for acute pain. The study was designed to confirm the drug’ssafety and inform treatment regimens for the upcoming Phase II trial, on track to launch in calendar First Quarter 2024. The PK/PD study involved 36 healthy volunteers randomized across three treatment arms: a single high dose and two five-day regimens of otenaproxesul. The five-day regimens were chosen to correspond to regimens envisaged for the upcoming Phase II trial. Subjects remained in-clinic for the duration of their treatment. All subjectscompleted the study with no clinically significant, drug-related adverse events and no elevation in liver enzymes during treatment or in post-treatment follow up. Announcement • Oct 19
Antibe Initiates First Clinical Study of Otenaproxesul’s New Formulation Antibe Therapeutics Inc. announce the initiation of the pharmacokinetic/pharmacodynamic (“PK/PD”) study of otenaproxesul’s faster-absorbing formulation for acute pain. The study is designed to inform the doses and confirm safety in preparation for the Phase II trial, on track to launch in calendar First Quarter 2024. The PK/PD study will involve 36 healthy volunteers randomized across three treatment arms: a single high dose and two five-day regimens of otenaproxesul. Subjects will remain in-clinic for the duration of their treatment. Expected in November, the study data will also advance Antibe’s exploration of potential treatment regimens for chronic pain. Announcement • Sep 29
Antibe Therapeutics Inc. Receives Approval to Initiate PK/PD Study of Otenaproxesul Antibe Therapeutics Inc. announced Health Canada's approval to initiate the pharmacokinetic/pharmacodynamic study of otenaproxesul's faster-absorbing formulation for acute pain. Set to commence in October, the purpose of the study is to inform the doses for the Phase II trial. New Risk • Aug 17
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: CA$19m Forecast net loss in 3 years: CA$5.6m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (CA$5.6m net loss in 3 years). Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (€20.1m market cap, or US$21.8m). Breakeven Date Change • Aug 15
No longer forecast to breakeven The 4 analysts covering Antibe Therapeutics no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$1.12m in 2026. New consensus forecast suggests the company will make a loss of CA$3.09m in 2026. Announcement • Jul 01
Antibe Therapeutics Inc., Annual General Meeting, Sep 08, 2023 Antibe Therapeutics Inc., Annual General Meeting, Sep 08, 2023. Location: Toronto, ON Toronto Canada Breakeven Date Change • Jun 30
Forecast to breakeven in 2026 The 4 analysts covering Antibe Therapeutics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of CA$1.12m in 2026. Average annual earnings growth of 66% is required to achieve expected profit on schedule. Announcement • Feb 16
Antibe Therapeutics Inc. Announces Retirement of Dr. John L. Wallace from the Board of Directors Antibe Therapeutics Inc. announced that its founder, Dr. John L. Wallace, has decided to retire from the Board of Directors. Dr. Wallace will remain a corporate Vice Chair, enabling the company to continue to benefit from his wisdom and expertise. Recent Insider Transactions • Dec 20
Founder & Vice Chair recently sold €84k worth of stock On the 13th of December, John Wallace sold around 250k shares on-market at roughly €0.34 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by €154k. Reported Earnings • Aug 16
First quarter 2023 earnings released: CA$0.11 loss per share (vs CA$0.13 loss in 1Q 2022) First quarter 2023 results: CA$0.11 loss per share (up from CA$0.13 loss in 1Q 2022). Net loss: CA$5.60m (loss narrowed 11% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jul 20
Founder & Vice Chair recently sold €67k worth of stock On the 12th of July, John Wallace sold around 143k shares on-market at roughly €0.47 per share. This was the largest sale by an insider in the last 3 months. John has been a seller over the last 12 months, reducing personal holdings by €31k. Reported Earnings • Jul 01
Full year 2022 earnings released: CA$0.50 loss per share (vs CA$0.66 loss in FY 2021) Full year 2022 results: CA$0.50 loss per share. Revenue: CA$0 (down 100% from FY 2021). Net loss: CA$25.3m (loss widened 2.1% from FY 2021). Profit margin: (up from net loss in FY 2021). The move to profitability was driven by lower revenue. Reported Earnings • Nov 17
Second quarter 2022 earnings released: CA$0.16 loss per share (vs CA$0.21 loss in 2Q 2021) Second quarter 2022 results: Net loss: CA$8.37m (loss widened 5.3% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 17
Second quarter 2022 earnings released: CA$0.16 loss per share (vs CA$0.21 loss in 2Q 2021) Second quarter 2022 results: Net loss: CA$8.37m (loss widened 5.3% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 17
Second quarter 2022 earnings released: CA$0.16 loss per share (vs CA$0.21 loss in 2Q 2021) Second quarter 2022 results: Net loss: CA$8.37m (loss widened 5.3% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Nov 03
President recently bought €70k worth of stock On the 1st of November, Daniel Legault bought around 105k shares on-market at roughly €0.66 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Daniel has been a net seller over the last 12 months, reducing personal holdings by €106k. Reported Earnings • Aug 18
First quarter 2022 earnings released: CA$0.13 loss per share (vs CA$0.16 loss in 1Q 2021) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2022 results: Revenue: CA$2.73m (up 122% from 1Q 2021). Net loss: CA$6.30m (loss widened 28% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Breakeven Date Change • Jul 02
No longer forecast to breakeven The 7 analysts covering Antibe Therapeutics no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$4.96m in 2024. New consensus forecast suggests the company will make a loss of CA$23.0m in 2024. Recent Insider Transactions • Jun 08
Independent Chair of the Board recently sold €273k worth of stock On the 3rd of June, Walter MacNee sold around 100k shares on-market at roughly €2.73 per share. This was the largest sale by an insider in the last 3 months. This was Walter's only on-market trade for the last 12 months. Reported Earnings • Feb 13
Third quarter 2021 earnings released: CA$0.15 loss per share (vs CA$0.15 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CA$2.79m (up 7.0% from 3Q 2020). Net loss: CA$5.93m (loss widened 41% from 3Q 2020). Analyst Estimate Surprise Post Earnings • Feb 13
Revenue beats expectations Revenue exceeded analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 37%, compared to a 2.5% growth forecast for the Pharmaceuticals industry in Germany. Is New 90 Day High Low • Feb 10
New 90-day high: €3.44 The company is up 41% from its price of €2.44 on 11 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €48.20 per share. Is New 90 Day High Low • Nov 16
New 90-day high: €0.27 The company is up 6.0% from its price of €0.26 on 18 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.71 per share. Reported Earnings • Nov 14
Second quarter 2021 earnings released: CA$0.021 loss per share The company reported a soft second quarter result with increased losses and weaker control over expenses, although revenues were improved. Second quarter 2021 results: Revenue: CA$2.87m (up 26% from 2Q 2020). Net loss: CA$7.95m (loss widened 61% from 2Q 2020). Analyst Estimate Surprise Post Earnings • Nov 14
Revenue beats expectations Revenue exceeded analyst estimates by 42%. Over the next year, revenue is forecast to grow 24%, compared to a 2.8% growth forecast for the Pharmaceuticals industry in Germany. Is New 90 Day High Low • Sep 22
New 90-day low: €0.22 The company is down 19% from its price of €0.27 on 24 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 
