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 Pharmaceuticals has successfully completed its non-brokered private placement, issuing 11,260,040 units at CDN $0.25, raising gross proceeds of CDN $2,815,010. Each unit consists of one Class A common share and a warrant. The warrants allow for the purchase of additional shares at CDN $0.40 until March 5, 2023, with terms for accelerated expiry. The company paid CDN $161,400 in commissions and issued 645,600 finder’s warrants. Proceeds will be utilized for general corporate purposes.
Algernon Pharmaceuticals has announced a discussion on their DMT Stroke Clinical Research Program featuring CEO Christopher J. Moreau and DMT Consultant Dr. David Nutt. The BioPub webcast is scheduled for March 3, 2021, at 1:00 PM EST, inviting stakeholders to engage in the conversation about the company's innovative approach to drug repurposing. Algernon focuses on exploring safe, approved drugs for new therapeutic applications, aiming to expedite new human trials and regulatory approvals.
Algernon Pharmaceuticals has announced a non-brokered private placement of 10,800,000 units, raising CAD $2,700,000. Each unit includes a common share priced at $0.25 and a share purchase warrant exercisable at $0.40 for 24 months. The warrants may expire early if the shares trade at or above CAD $0.80 for ten consecutive days. The proceeds will be allocated for general corporate purposes. Algernon focuses on drug repurposing for new disease applications, developing formulations, and seeking regulatory approvals.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) has awarded Hammersmith Medicines Research Ltd a contract for its Phase 1 stroke study of AP-188 (DMT). This study aims to assess the safety, tolerability, and pharmacokinetics of DMT dosages in healthy participants. Algernon plans to be the first globally to explore prolonged intravenous DMT infusion for stroke treatment. The study is set to inform future Phase 2 trials in stroke patients and is expected to start following the acquisition of cGMP drug product from Dalton Pharma.
Algernon Pharmaceuticals has appointed Dr. Christopher Bryan as Vice President of Research & Operations and Dr. Ahmad Khalil as Chief Medical Officer. Dr. Bryan, a PhD graduate from the University of Toronto, brings extensive experience in drug synthesis and clinical trial management. Dr. Khalil has over 20 years in biopharma, overseeing multiple clinical trials. The company announced that Dr. Mark Williams will step down as Chief Science Officer to lead a new venture. Algernon focuses on repurposing approved drugs for new applications.
On February 25, 2021, Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) announced that CEO Christopher J. Moreau and Dr. David Nutt will discuss the Company's New DMT Stroke Clinical Research Program at the Psychedelic Capital Virtual Investment Conference. This presentation will take place at 4:45 PM EST and is open for free access to shareholders, investors, and the public. Interested parties can find further information and access a free ticket through the provided link. Algernon is focused on drug repurposing and investigating safe, approved drugs for new medical applications.
Algernon Pharmaceuticals Inc. (CSE: AGN) has awarded a contract to Dalton Pharma Services for the manufacturing of the active pharmaceutical ingredient and finished product of AP-188 (DMT). This collaboration aims to facilitate the synthesis of DMT as Algernon prepares to file for a pre-IND meeting with the U.S. FDA and advance its Phase 1 and 2 clinical studies. The company is focused on leveraging positive pre-clinical data indicating DMT's potential in stroke treatment, with ongoing investigations into its effects on neuroplasticity.
On February 17, 2021, Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) updated on its Phase 2b/3 study of Ifenprodil for COVID-19. A fire at a Romanian hospital site delayed the site audit, but the company has completed the source data audit for all patients. The database will be locked for analysis on March 5, and results will be shared soon after. Notably, many patients received imaging scans, aiding the exploration of Ifenprodil's potential in reducing post-COVID lung scarring, although the data will be reviewed separately to avoid further delays.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced plans to review its Phase 2b/3 study protocol for Ifenprodil in treating COVID-19, considering adding lung scarring as an endpoint based on new data from a significant patient population. Although lung scarring was not previously recognized as a major issue, recent studies indicate that 60% of post-COVID-19 patients exhibit lung damage. CEO Christopher J. Moreau emphasized that confirming Ifenprodil's effectiveness in this area could represent a significant advancement in patient care.
Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) announced a partnership with Charles River Laboratories to conduct preclinical studies on AP-188 (DMT) for its stroke research program. The study aims to explore DMT's neurogenic potential. The company intends to initiate human trials in 2021, focusing on sub-hallucinogenic doses to avoid adverse psychedelic effects in stroke patients. Previous studies indicated DMT's efficacy in reducing brain injury and promoting recovery. Algernon aims to be the first to investigate DMT for stroke treatment in humans.
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