Algernon Pharmac Stock Price, News & Analysis

Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) announced plans to request an End-of-Phase 2 meeting with the FDA following the completion of its Phase 2b COVID-19 trial for NP-120 (Ifenprodil). The company aims to discuss trial data and seek guidance for a potential Phase 3 study. Initial data review has shown some negative dose effects at the 40mg level, with further analysis on key endpoints such as mortality and ICU time planned. Algernon aims to leverage the FDA's feedback to inform their next steps in the development process.

Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) appointed Dr. Steven L. Wolf as a consultant for its clinical research program on AP-188 (DMT) for stroke treatment. Dr. Wolf is a renowned expert in Physical Therapy and Rehabilitation Medicine, with over 300 publications and significant contributions to improving stroke recovery methods. His expertise will guide the design of the Phase 2 clinical study assessing DMT's potential to aid neural recovery post-stroke, following promising results from animal studies. This collaboration may enhance Algernon's research capabilities.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced topline data from its Phase 2b/3 COVID-19 trial of NP-120 (Ifenprodil). Key findings revealed 0% mortality in the 20 mg Ifenprodil group at Day 15 versus 3.3% in the control group. Patients with low blood oxygen showed a return to normal levels more quickly in the treatment group. However, the WHO score showed no significant changes across study arms. The company plans to discuss results with the U.S. FDA and publish detailed data in a peer-reviewed journal.

Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) announced its inclusion in the Horizons Psychedelic Stock Index ETF in the first quarterly rebalance. This ETF offers investors exposure to North American companies engaged in psychedelic-related activities. CEO Christopher J. Moreau highlighted that this recognition reflects Algernon's significant progress in its DMT stroke research program. The company is investigating the use of DMT as a treatment for stroke and has filed provisional patents related to its formulations and methods.

Algernon Pharmaceuticals has filed a pre-IND meeting request with the U.S. FDA for its investigational drug AP-188 (DMT) targeting stroke-related dysfunction. This marks the start of formal communications regarding its stroke clinical research program. The application seeks FDA guidance on using DMT alongside constraint-induced movement therapy (CIMT) to enhance recovery in stroke patients. Positive preclinical studies indicate DMT promotes neurogenesis and motor recovery. Algernon also awarded contracts for DMT manufacturing and preclinical studies, with a focus on advancing stroke treatment.

Algernon Pharmaceuticals expects to report topline results from the Phase 2b part of its Phase 2b/3 COVID-19 trial of Ifenprodil in the last week of March 2021. This multinational study aims to evaluate Ifenprodil's safety and efficacy in hospitalized COVID-19 patients. The independent statisticians will review the data before public release. CEO Christopher J. Moreau emphasizes an urgent need for effective COVID-19 therapies. The trial's positive outcomes could lead to a Phase 3 trial with a larger patient cohort, aiding in the fight against severe COVID-19.

Algernon Pharmaceuticals has successfully completed its non-brokered private placement, issuing 11,260,040 units at CDN $0.25, raising gross proceeds of CDN $2,815,010. Each unit consists of one Class A common share and a warrant. The warrants allow for the purchase of additional shares at CDN $0.40 until March 5, 2023, with terms for accelerated expiry. The company paid CDN $161,400 in commissions and issued 645,600 finder’s warrants. Proceeds will be utilized for general corporate purposes.

Algernon Pharmaceuticals has announced a discussion on their DMT Stroke Clinical Research Program featuring CEO Christopher J. Moreau and DMT Consultant Dr. David Nutt. The BioPub webcast is scheduled for March 3, 2021, at 1:00 PM EST, inviting stakeholders to engage in the conversation about the company's innovative approach to drug repurposing. Algernon focuses on exploring safe, approved drugs for new therapeutic applications, aiming to expedite new human trials and regulatory approvals.

Algernon Pharmaceuticals has announced a non-brokered private placement of 10,800,000 units, raising CAD $2,700,000. Each unit includes a common share priced at $0.25 and a share purchase warrant exercisable at $0.40 for 24 months. The warrants may expire early if the shares trade at or above CAD $0.80 for ten consecutive days. The proceeds will be allocated for general corporate purposes. Algernon focuses on drug repurposing for new disease applications, developing formulations, and seeking regulatory approvals.