Algernon Pharmaceuticals Inc C.AGN

Alternate Symbol(s): AGNPF

Algernon Pharmaceuticals Inc. is a clinical-stage drug development company. The Company is focused on developing repurposed therapeutic drugs in the areas of non-alcoholic steatohepatitis (NASH), a type of liver disease, chronic kidney disease (CKD), inflammatory bowel disease (IBD), idiopathic pulmonary fibrosis (IPF) and chronic cough as well as advancing a stroke program using N, N-Dimethyltryptamine (DMT). The Company operates through two segments, which includes the development of repurposed therapeutic drugs in Canada and the facilitation of the Company’s lead drug candidates into off-label phase II clinical trials (humans) in Australia. The Company's pipeline includes NP-251 (Repirinast) and AP-188 (DMT). The Company, through its subsidiary, Algernon NeuroScience Inc., is developing AP-188 (DMT) as a potential treatment for stroke and traumatic brain injury (TBI) recovery. Its NP-251 is being developed as a potential treatment for kidney inflammation and fibrosis.

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Algernon Pharmaceuticals Inc

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Post by Biofinanaceon Dec 14, 2020 5:19pm

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Post# 32102710

My (nail-biting) 2 cents

In the morning when I woke up and saw INCY (JAK1/2 inhibitor) failed in Ph3 COVID therapeutic trial I got sweaty. Here is the link - https://ca.movies.yahoo.com/incyte-announces-results-phase-3-061500433.html

BTW: there is no correlation between JAK1/2 and NMDA pathway.

I like that AGN halted the trade for rest of the day in order to minimize any irrational behaviour from loyal investors or manipulators, esp AGN being in a penny land.

Either the news will be positive or negative. Tomorrow becomes very nerve wrecking esp when AGN was suppose to release quaterly results on Dec 15th.

If the news is good then AGN would require a partner to run a big Ph3 trial or a big placement or Canadian govt. massive dilutive or non-diliutive funding.

1) Partnership - On several occasions Chris mentioned that he is in discussion with companies but wont disclose the names or the depth of those discussions. Perhaps Novotech (AGN's current CRO) can buy some equity in the company.

2) Canadian govt - has been getting lot of heat from stakeholders in order to be so behind in innovation around infectious diseases. The govt gave Abcelera, IMV, Spartan and so on a lot of funding. So the govt will not be shy to support a home grown small cap company, if there is a tangible outcome.

3) Placement -AGN planned to do $10M @ $0.5/unit or $15M @ $0.6M/unit end of this year but I am not sure how would AGN run a Ph3 Pivotal trial under $25M

For the last year below is the raise AGN did - (flree float 121M; Alpha North owns 6%, Kulwant Malhi owns 5.4%, Chris owns 1%, Palos Management owns 2% etc.)