Welcome to our dedicated page for Algernon Pharmac news (Ticker: AGNPF), a resource for investors and traders seeking the latest updates and insights on Algernon Pharmac stock.
Algernon Pharmaceuticals Inc. (symbol: AGNPF) is a Canadian clinical stage pharmaceutical development company dedicated to advancing treatments for unmet global medical needs. The company operates multiple research programs targeting chronic kidney disease, chronic cough, and non-alcoholic steatohepatitis (NASH). Algernon is also the parent company of Algernon NeuroScience, a subsidiary focused on the investigation of a proprietary form of psychedelic DMT for stroke and traumatic brain injury.
Recently, Algernon has achieved significant milestones, such as receiving a notice of intention to grant a patent from the Chinese Patent Office for its antifibrotic drug candidate NP-251 (Repirinast). This patent, which will be valid through 2038, enhances the global protection of the company's intellectual property. Another notable development includes the sale of its NP-120 (Ifenprodil) research program to Seyltx Inc. for USD $2 million and a 20% equity stake in Seyltx. Ifenprodil targets chronic cough by inhibiting NMDA receptors, and Seyltx is set to advance it through a Phase 2b clinical trial.
Algernon is also making strides with its DMT stroke research program under Algernon NeuroScience. The company plans to proceed with a Phase 2a study investigating the neuroplasticity effects of DMT in stroke patients. This program represents a pioneering effort to explore the potential of psychedelics in promoting brain recovery post-stroke.
Financially, Algernon has secured multiple patents in various markets, including Japan, Canada, Europe, and the United States, for its lead candidates. The company's forward-looking strategy involves robust intellectual property protection, strategic partnerships, and focused clinical trials.
In addition to its clinical advancements, Algernon has engaged ICP Securities Inc. for automated market making services to enhance liquidity and market presence. The company actively communicates with investors and stakeholders, as evidenced by planned special CEO interviews and Q&A sessions.
Algernon Pharmaceuticals is committed to developing effective treatments through rigorous research and strategic collaborations, positioning itself as a leader in innovative pharmaceutical solutions.
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.
Algernon Pharmaceuticals (CSE: AGN, OTCQB: AGNPF), a Canadian clinical-stage pharmaceutical company, has engaged ICP Securities Inc. to provide automated market making services using its proprietary algorithm, ICP Premium™. ICP will be paid CDN $7,500 per month for a three-month initial term, automatically renewing monthly unless canceled with 30 days' notice. ICP will manage supply and demand imbalances of AGNPF shares without third-party funding. Additionally, Algernon has granted 425,000 restricted share units (RSUs) to an employee and a consultant, vesting immediately upon grant and subject to regulatory approval.
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