Algernon Pharmac Stock Price, News & Analysis

Algernon Pharmaceuticals (AGNPF) has announced its acquisition of NoBrainer Imaging Centers (NIC), marking its entry into the Alzheimer's Disease (AD) diagnostic and treatment market. The company plans to establish comprehensive AD medical clinics across Canada and the U.S., with the first location set to open in Florida in Q4 2025. The clinics will offer: • Advanced PET scan imaging using Positrigo NeuroLF brain PET system • Cognitive and genetic screening including APOE testing • Blood tests for early AD detection • FDA-approved therapy infusions • Personalized wellness programs The company aims to open 10 corporate-owned sites and 10 franchise locations in 2026. The acquisition involves issuing 4.5M common shares, 9M warrants, and 450,000 preferred shares. The deal includes exclusive rights for multiple U.S. markets and Canada, targeting a US$18 billion PET scan market opportunity serving an estimated 7 million AD patients in the U.S. and 750,000 in Canada.

Algernon Pharmaceuticals (OTCQB: AGNPF) has received a notice of allowance from the European Patent Office for its lead chronic kidney disease drug NP-251 (Repirinast). The patent covers the use of Repirinast, alone or combined with telmisartan, for treating renal fibrosis or kidney disease.

The base claims will be valid through 2038, with potential additional protection through adjustments or extensions. The company has already secured patent allowances in the U.S., Japan, and China, with a pending application in Canada.

Key highlights:

• Repirinast reduced fibrosis by 51% with statistical significance in a mouse model
• Showed additive benefits when combined with telmisartan
• Company granted 50,000 restricted share units and 50,000 stock options to consultants, exercisable at $0.09 for five years

Algernon NeuroScience, a subsidiary of Algernon Pharmaceuticals (OTCQB: AGNPF), has appointed Netcapital Securities for its planned Regulation A offering. The company has filed Form 1-A with the SEC, though the offering hasn't been qualified yet.

The proceeds will fund a Phase 2a DMT study involving 40 stroke patients, scheduled for Q3 2025 in Hungary. The study will be led by Dr. Sándor Nardai at the National Institute of Mental Health, Neurology and Neurosurgery in Budapest.

Additionally, the company granted 1,405,000 restricted share units (RSUs) and 1,000,000 stock options at $0.09, exercisable for five years, to executives and directors. Both RSUs and options vest immediately upon grant.

Algernon NeuroScience has appointed Dr. Sándor Nardai as Principal Investigator for its upcoming Phase 2a DMT stroke study in Europe. The study, involving 40 stroke patients, will be randomized, double-blind, and placebo-controlled, with enrollment expected to begin in Q3 2025.

Dr. Nardai, a leading stroke expert and Head of Neurointervention at Semmelweis University Center in Budapest, previously led a groundbreaking rat stroke study published in 2020. The study demonstrated that rats treated with sub-psychedelic DMT doses showed almost full motor function recovery and smaller infarct volumes compared to the control group, with statistically significant results.

The Phase 2a study's primary endpoint will focus on safety, with secondary endpoints including lesion volume, biomarkers, motor function, cognitive function, depression, and mortality.

Algernon NeuroScience has appointed Validcare as the Contract Research Organization (CRO) for its upcoming Phase 2a DMT stroke trial in Europe. The study, involving 40 stroke patients, is set to begin enrollment in Q3 2025. As part of the agreement, Validcare will invest US $170,000 in AGN Neuro through equity stakes, with investments staged throughout the study's progress.

The trial will be randomized, double-blind, and placebo-controlled. Validcare's CEO highlighted promising pre-clinical data showing DMT's effectiveness in reducing ischemic stroke damage and restoring motor function. Notably, approximately 85% of ischemic stroke patients are currently unable or ineligible for interventional treatment, emphasizing the potential significance of DMT in promoting neuroplasticity and brain recovery post-injury.

Additionally, AGN Pharma has cancelled 684,000 previously granted stock options with exercise prices between $1.03 to $8.75 and expiry dates from February 2025 to August 2027.

Algernon Pharmaceuticals (AGNPF) has received a USPTO notice of allowance for patent application 17/255,364 covering its lead chronic kidney disease (CKD) drug NP-251 (Repirinast). The patent, valid through 2038, covers Repirinast's use alone or combined with telmisartan for treating renal fibrosis or kidney disease.

The company already holds corresponding patents in Japan and China, with pending applications in Europe and Canada. The CKD market is projected to grow from $84.85 billion in 2025 to $109.95 billion by 2030, with a 5.32% CAGR.

Preclinical data showed Repirinast reduced fibrosis by 50.6% at 90 mg/kg dose, outperforming telmisartan (32.6% reduction) and cenicriviroc (31.9% reduction). The combination of Repirinast (30 mg/kg) with telmisartan (3 mg/kg) achieved a 54.2% fibrosis reduction with statistical significance.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) has closed its non-brokered private placement, raising gross proceeds of $408,000. The offering consisted of units priced at $0.12 per unit. Notably, company insiders participated in the offering, contributing $77,760. This insider participation is considered a 'related party transaction' under MI 61-101, but the company is exempt from certain requirements due to the transaction's size. Algernon paid $5,376 in cash finder's fees and issued 44,800 finder's warrants. The company plans to use the proceeds for working capital purposes.

Algernon Pharmaceuticals (CSE: AGN, OTCQB: AGNPF) has increased its non-brokered private placement from $250,000 to $408,000. The offering consists of units priced at $0.12, each comprising one common share and one purchase warrant. Warrants are exercisable at $0.24 per share for 2 years, subject to acceleration if the stock price exceeds $0.36 for 20 consecutive trading days. The closing date is set for August 1, 2024. Proceeds will be used for working capital. The company may pay cash finder's fees and issue finder's warrants up to 8% of the proceeds and units for introduced investors. Securities will have a 4-month hold period and are not registered under the U.S. Securities Act.

Algernon Pharmaceuticals (CSE: AGN, OTCQB: AGNPF) reports significant results from a study on ifenprodil for cough suppression. The multi-dose study, conducted by Seyltx, showed a 93% reduction in median cough count in guinea pigs. Seyltx, which acquired Algernon's ifenprodil research program for $2M USD and a 20% equity position, plans to begin patient enrollment for the SILINDA Phase 2b study in early 2025.

Ifenprodil, an NMDA receptor antagonist, achieved near-complete cough suppression at a 30 mg/kg dose. The upcoming SILINDA Phase 2b study will evaluate ifenprodil's efficacy in approximately 240 adults with refractory chronic cough (RCC), with expected treatment arms of 40 mg, 80 mg, and 120 mg TID. Topline data from SILINDA are anticipated by the end of 2026.