TORONTO--(BUSINESS WIRE)--Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF) (the "Company"), a clinical stage company leveraging its hydrogen sulfide platform to develop next-generation safer therapies that target inflammation, announces that it is extending the expiry date (the “Warrant Extension”), and amending the exercise price (the “Exercise Price Amendment”) of the common share purchase warrants (“Warrants”) of the Company issued on August 13, 2019, June 30, 2020 and February 24, 2021. The amendments will take effect on December 29, 2023.
Warrant Extension and Exercise Price Amendment
After giving effect to the Warrant Extension, each Warrant issued on August 13, 2019, June 30, 2020 and February 24, 2021 will (i) expire on July 31, 2024, and (ii) be exercisable to purchase a common share of the Company at a price of $1.50 per common share. The existing and amended expiry dates and exercise prices are detailed in the table below:
Issue Date |
Number of Warrants |
Current Exercise Price |
Amended Exercise Price |
Current Expiry Date |
Amended Expiry Date |
Effective Date |
August 13, 2019 |
748,555 |
$1.80 |
$1.50 |
December 31, 2023 |
July 31, 2024 |
December 29, 2023 |
June 30, 2020 |
2,373,401 |
$1.80 |
$1.50 |
December 31, 2023 |
July 31, 2024 |
December 29, 2023 |
February 24, 2021 |
3,363,750 |
$7.50 |
$1.50 |
February 24, 2024 |
July 31, 2024 |
December 29, 2023 |
None of the Warrants are held by insiders of the Company.
The Toronto Stock Exchange has provided conditional approval for the Warrant Extension and Amended Exercise Price with an effective date for the amendments of December 29, 2023.
About Antibe Therapeutics Inc.
Antibe is a clinical stage biotechnology company leveraging its proprietary hydrogen sulfide platform to develop next-generation safer therapies that target inflammation arising from a wide range of medical conditions. The company’s current pipeline includes assets that seek to overcome the gastrointestinal (“GI”) ulcers and bleeding associated with nonsteroidal anti-inflammatory drugs (“NSAIDs”). Antibe’s lead drug, otenaproxesul, is in clinical development as a safer alternative to opioids and today’s NSAIDs for post-operative pain. Antibe’s second pipeline drug, ATB-352, is being developed for a specialized acute pain indication. The company’s anticipated next target is inflammatory bowel disease (“IBD”), a condition long in need of safer, more effective therapies. Learn more at antibethera.com.
Forward-Looking Statements
This press release contains forward-looking statements identified by words such as “expects”, “will” and similar expressions, which reflect the Company’s current expectations regarding future events. This forward-looking information includes statements with respect to, among other things, amendments to the Warrants and receipt by the Company of final approval of the Toronto Stock Exchange in respect of amendments to the Warrants. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: receipt of final approval of the Toronto Stock Exchange in respect of the amendments to the Warrants). The forward-looking statements involve risks and uncertainties that could cause the Company’s actual events to differ materially from those projected herein. Investors should consult the Company’s ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.
