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Algernon Pharmaceuticals, a clinical-stage pharmaceutical development company, granted 96,000 stock options at an exercise price of $4.10 for five years to officers, directors, employees, and a consultant, pending regulatory approval. Algernon focuses on drug repurposing, investigating safe, already approved drugs for new disease applications, particularly those not previously approved in the U.S. or Europe.
Algernon Pharmaceuticals has successfully produced a clinical grade supply of DMT (AP-188), enabling planned Phase 1 and Phase 2 clinical trials for stroke treatment. The supply was manufactured at Dalton Pharma Services in Canada. Additionally, Dr. Anthony Rudd and Dr. Robert Simister have been appointed as medical consultants to support the DMT stroke clinical research program. Their expertise will guide the upcoming Phase 2 trials, scheduled to commence in the latter part of 2022, following the completion of Phase 1.
