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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 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.
Algernon Pharmaceuticals announced that CEO Christopher J. Moreau will give a keynote presentation at the Microdose Virtual 2021 DMT Conference on September 9th. Moreau's talk, titled “DMT – New Hope for Healing the Brain After a Stroke,” will present Algernon's unique clinical research program focused on DMT for stroke treatment. The preliminary study revealed that DMT increased the growth of cortical neurons by 40% at sub-hallucinogenic doses. Algernon aims to be the first to test DMT for stroke in humans, and has filed new provisional patents related to its treatment.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced the appointment of Harry Bloomfield, QC, as a new Board member and Chairman. Bloomfield brings significant experience as a lawyer and business manager, with a history in senior business roles and board memberships across various entities. His expertise is expected to enhance Algernon's drug repurposing initiatives. CEO Christopher Moreau expressed confidence in Bloomfield's ability to contribute positively to the company's strategic goals.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced successful results from its preclinical study on AP-188 (DMT), showing a 40% increase in cortical neuron growth with statistical significance using a sub-hallucinogenic dose. Conducted by Charles River Laboratories, the study aims to explore DMT's neuroplastic effects for stroke treatment with minimal side effects. The next phase involves analyzing treatment duration from 1 to 72 hours, with results expected by October 2021. Algernon aims to lead human trials for DMT targeting ischemic stroke.
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