Algernon Health Stock Price, News & Analysis

Algernon Pharmaceuticals has received positive feedback from the UK MHRA regarding its Phase 1/2a stroke study utilizing AP-188 (DMT). The Company plans to file a Clinical Trial Authorization and is considering DMT for acute stroke treatment. The study aims to investigate DMT's efficacy as both a primary treatment and an adjunct for rehabilitation. Conducted at Hammersmith Medicines Research in London, the trial is scheduled to commence in January 2022.

Algernon Pharmaceuticals announced plans to consolidate its Class A common shares on a 100-to-1 basis, aiming to have approximately 1,678,809 shares outstanding post-consolidation. This move is intended to assist in meeting the listing requirements for the Nasdaq Capital Market, pending approval. The consolidation is subject to acceptance from the Canadian Securities Exchange. A formal letter will be sent to registered shareholders outlining the exchange process for new share certificates. The effective date of the consolidation will be released after CSE approval.

Algernon Pharmaceuticals Inc. (CSE: AGN) (OTCQB: AGNPF) announced the successful results of a preclinical study on DMT, demonstrating a 40% increase in neuron outgrowth at a sub-hallucinogenic dose over a 6-hour treatment period. Conducted by Charles River Laboratories, the study confirmed that DMT outperformed ketamine at similar doses. The final analysis on the mechanisms of DMT's effects is expected by the end of November 2021. Algernon is progressing towards a Phase 1 clinical study for stroke treatment using DMT.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced a CAD$2M cash payment from a refundable tax credit program linked to its clinical research in Australia. This boosts its working capital to approximately CAD$3.5M. Additionally, the company has submitted an application to list its common shares on the Nasdaq Capital Market, pending approval. CEO Christopher J. Moreau highlighted the potential benefits of moving to a U.S. national exchange, which may improve valuation and attract new investors familiar with pharmaceutical development.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) has filed a scientific advice meeting request with the UK's MHRA for a Phase 1/2a stroke study involving DMT, a psychedelic compound. The planned CTA application is set for Q4 2021. The study aims to assess safety and pharmacokinetics of DMT and its potential as an adjunctive treatment with Constraint-Induced Movement Therapy for stroke patients. Notably, preclinical trials indicated a 40% increase in cortical neuron growth using a sub hallucinogenic dose of DMT.

Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) has filed a pre-IND meeting request with the U.S. FDA for its NP-120 (Ifenprodil) aimed at treating refractory chronic cough. This potential first-in-class treatment shows promising trends from an interim analysis of its ongoing Phase 2 study in Australia and New Zealand. Results revealed a significant reduction in cough counts after 12 weeks. Depending on FDA feedback, the U.S. Phase 2 study could begin in Q2 2022. Chronic cough, affecting 10% of adults, currently has no approved therapies.

Algernon Pharmaceuticals has filed a pre-IND meeting request with the U.S. FDA for its clinical program investigating NP-120 (Ifenprodil) for the treatment of small cell lung cancer (SCLC). This marks a significant step in the development of Ifenprodil, which shows promise when combined with Topotecan to inhibit tumor growth. SCLC accounts for 15% of lung cancers, with limited treatment options available for patients suffering from this condition. CEO Christopher J. Moreau expressed optimism about advancing the SCLC program rapidly, emphasizing the urgent need for new treatment avenues.

Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) announces the appointment of Dr. Mark Williams to its Board of Directors, succeeding Michael Sadhra, who resigned to pursue other ventures. Dr. Williams, a co-founder of the company's drug repurposing program, has over 15 years of experience in drug development. He holds a PhD in Microbiology and an MBA. CEO Christopher J. Moreau welcomes his extensive knowledge in pre-clinical and clinical development, enhancing the board's expertise.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) has announced plans to file a pre-IND meeting request with the FDA for a Phase 2 chronic cough study using NP-120 (Ifenprodil). The decision to expand the Ifenprodil research stems from positive interim data from a Phase 2 trial on idiopathic pulmonary fibrosis (IPF) and chronic cough. Preliminary results indicated a relative reduction in cough counts in patients, and the new study aims to focus solely on chronic cough, powered for statistical significance, with a placebo control.