Algernon Pharmac Stock Price, News & Analysis

Algernon Pharmaceuticals has announced a clinical trial agreement with Yale University to investigate multiple intravenous doses of DMT for depression treatment. The principal investigator, Professor Deepak Cyril D’Souza, aims to enhance understanding of DMT dosing effects. Algernon will supply cGMP DMT and jointly own the intellectual property developed during the study. Additionally, data from this trial may inform Algernon's stroke research program. The double-blind, placebo-controlled study will evaluate DMT in both healthy participants and those with depression.

Algernon Pharmaceuticals (CSE: AGN; OTCQB: AGNPF) announces that Dr. Rick Strassman will join CEO Christopher J. Moreau for a Science Keynote Address at the Wonderland conference on November 5, 2022. The address will focus on Algernon's Phase 1 clinical study of DMT for stroke treatment, supported by positive preclinical data. Algernon is the first to investigate DMT as a stroke treatment and has completed its intravenous formulation for the trial, with approvals in place. The company has also filed patents for DMT applications in ischemic stroke.

Algernon Pharmaceuticals Inc. announced a cash payment of approximately CDN $450K from a refundable tax credit program linked to its clinical research in Australia. This brings the total cash refunds received to over CDN $3.0M, enhancing the company's capital-efficient business model. The company also reported changes to its warrants, adjusting the exercise price to $3.75 due to a dilutive issuance from a recent private placement. These developments highlight Algernon's commitment to advancing its clinical programs while optimizing financial resources.

Algernon Pharmaceuticals has advanced its research on NP-120 (Ifenprodil) targeting idiopathic pulmonary fibrosis (IPF) with cough. The company has filed for Orphan Designation with the U.S. FDA, which provides incentives for rare diseases affecting fewer than 200,000 patients. In a Phase 2a study, Ifenprodil showed no worsening lung function and significant improvements in cough frequency and patient-reported quality of life. Algernon aims to expedite Ifenprodil's development as a potential new therapy, addressing the urgent need as IPF has a high mortality rate.

Algernon Pharmaceuticals has received approval for a Phase 1 clinical study of an intravenous formulation of DMT for stroke treatment in the Netherlands. The trial, set to start screening soon, aims to evaluate safety, tolerability, and pharmacokinetics of DMT while gathering data for future studies. Previous preclinical studies indicated that DMT may promote neurogenesis and reduce tissue damage post-stroke. The study will involve up to 60 healthy volunteers, and there is optimism regarding the safety of DMT based on earlier trials.

Algernon Pharmaceuticals announced its role as the Headline Sponsor for the Wonderland 2022 conference in Miami from November 3-5. CEO Christopher J. Moreau will present two keynotes on November 4 and 5. Algernon is advancing its clinical research on DMT for stroke treatment and aims to initiate a Phase 1 trial in Q4 2022. The company has completed its intravenous formulation, applied for ethics approval, and will study DMT's safety and efficacy in healthy volunteers.

Algernon Pharmaceuticals has announced positive results from its Phase 2a study of NP-120 (Ifenprodil) for treating idiopathic pulmonary fibrosis and chronic cough. The trial met its co-primary endpoint of lung function preservation, showing no worsening of forced vital capacity over 12 weeks.

Secondary endpoints indicated stable diffusion capacity and improved cough-related metrics. Ifenprodil was well tolerated, achieving over 90% compliance. Upcoming presentations include the 21st International Colloquium on Lung and Airway Fibrosis in October 2022. The company plans to seek FDA orphan designation and file for a Phase 2b trial.

On August 23, 2022, Algernon Pharmaceuticals announced that its largest shareholder, AlphaNorth Asset Management, acquired 150,000 shares through a private placement, raising its ownership to over 13%. Steve Palmer, CEO of AlphaNorth, highlighted that the recent share price weakness provided a good opportunity for investment and expressed strong support for Algernon's drug pipeline. CEO Christopher J. Moreau welcomed this endorsement, emphasizing the company's focus on advancing its clinical drug development operations.

Algernon Pharmaceuticals is pleased to announce its participation in the 9th American Cough Conference in June 2023, where it will present results from its Phase 2a Study of NP-120 (Ifenprodil) for idiopathic pulmonary fibrosis and chronic cough. Ifenprodil, an NMDA receptor antagonist, could pioneer new treatment avenues for these conditions. Dr. Peter Dicpinigaitis noted the drug's promising potential as a first-in-class therapy. The conference, which focuses on cough research and management, occurs biennially, highlighting the significance of this presentation.