Antibe Therapeutics Gains Creditor Protection

Antibe Therapeutics, Inc. (Otc) (TSE:ATE) has released an update.

Antibe Therapeutics Inc. has secured temporary protection from its creditors through the Companies’ Creditors Arrangement Act, with Deloitte Restructuring Inc. overseeing the process as the court-appointed Monitor. The protection, which halts enforcement actions such as the US$24 million payment to Nuance Pharma, will last until April 18, 2024, when Antibe will seek an extension to resolve issues with a U.S. FDA hold on a planned trial. Following these events, trading of Antibe’s common shares was suspended on the Toronto Stock Exchange.

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