Algernon Pharmac Stock Price, News & Analysis

Algernon Pharmaceuticals has signed an exclusive licensing agreement with Dartmouth College for a method of use patent targeting neuroendocrine cancers that express functional NMDA receptors. The licensing deal includes a fee structure and ongoing royalties on sales. Algernon aims to leverage Ifenprodil, which has shown significant anti-tumor effects in pancreatic cancer models, to progress into clinical trials. The company plans to submit a pre-IND meeting request to the FDA for guidance on its clinical program design, emphasizing its commitment to advancing cancer treatment.

Algernon Pharmaceuticals Inc. (OTCB: AGNPF) has achieved 70% enrollment in its Phase 2 clinical trial of NP-120 (Ifenprodil) for idiopathic pulmonary fibrosis (IPF) and chronic cough. The trial, involving 20 patients, aims to assess Ifenprodil's effectiveness in preserving lung function and reducing chronic cough frequency over 12 weeks. With approximately CAD$3.2M in cash and a CAD$2M refundable tax credit expected, Algernon is positioned for continued development in its drug repurposing strategy.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced it will not advance Ifenprodil into a Phase 3 clinical study for COVID-19. This decision follows findings from a Phase 2b trial, the impact of widespread vaccinations, and insights from the FDA. Despite this setback, Algernon remains committed to other programs, including ongoing trials for Ifenprodil targeting idiopathic pulmonary fibrosis and chronic cough, alongside upcoming studies for DMT in stroke and pancreatic cancer. The company emphasizes its support for research during the pandemic and continues its drug re-purposing efforts.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) has received all necessary permits for its cGMP supply of AP-188 (DMT), aiming to start a Phase 1 human study in Q4 2021 at Hammersmith Medicines Research UK. The trial will assess the safety and pharmacokinetics of intravenous DMT in healthy volunteers. Additionally, the company has initiated a preclinical study with Charles River Laboratories to explore DMT's effects related to stroke treatment. Algernon has also filed provisional patents for new DMT formulations targeting ischemic stroke.

Algernon Pharmaceuticals has launched a clinical research program for pancreatic cancer (PC) using NP-120 (Ifenprodil), which showed a 50% reduction in tumor size in a murine model. The five-year survival rate for PC is a stark 7.9%, prompting the company to investigate Ifenprodil’s potential further, given its historical safety record. The company plans to submit a pre-IND meeting request to the U.S. FDA and seeks orphan designation and Fast Track status for Ifenprodil. The global pancreatic cancer treatment market is projected to reach USD 4.2 billion by 2025.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced an independent study from the University of Szeged showing that N,N-dimethyltryptamine (DMT) significantly reduces cell death in a rat stroke model. Published in Neuropharmacology, the study highlighted DMT's potential to decrease damaging biological processes following a stroke. Algernon aims to initiate a human clinical trial for DMT as a stroke treatment in Q4 2021 and has filed provisional patents for its use. CEO Christopher J. Moreau emphasizes DMT's potential in stroke therapy.

Algernon Pharmaceuticals (CSE: AGN) has received positive feedback from the FDA regarding its plans to investigate AP-188 (DMT) as an adjunct to physical therapy for stroke rehabilitation. Following a Pre-IND request submitted on March 16, 2021, the FDA agreed with the proposed preclinical efficacy experiments and provided guidance for preclinical safety studies. The Phase 1 clinical trial is slated for Q4 2021 in the UK. Algernon also filed provisional patents for DMT formulations and combination therapies. The company aims to be the first to test DMT in human trials for stroke.

Algernon Pharmaceuticals announced significant results from its Phase 2b/3 COVID-19 trial of NP-120 (Ifenprodil), highlighting a 267 ng/L reduction in interleukin 6 (IL-6) levels in the 20 mg treatment group compared to 7 ng/L in the standard care group (p = 0.0292). This reduction indicates potential therapeutic implications for idiopathic pulmonary fibrosis (IPF) and chronic cough, as the company continues its Phase 2 trial targeting these conditions. Algernon has achieved 50% of its enrollment target for the IPF study, further measuring biomarkers such as C-reactive protein.

Algernon Pharmaceuticals has reached 50% enrollment for its Phase 2 clinical trial of NP-120 (Ifenprodil) targeting idiopathic pulmonary fibrosis (IPF) and chronic cough. The trial aims to evaluate Ifenprodil's efficacy in preserving lung function and reducing cough frequency in IPF patients. In preclinical studies, Ifenprodil demonstrated a 56% reduction in fibrosis and a 42% decrease in cough frequency. The IPF market is projected to grow significantly, from $900 million in 2015 to $3.2 billion by 2025, indicating potential market opportunities for the company.