Algernon outlook......just my opinionAt this point the stock certainly not encouraging. Sadly it looks like it is heading further down, possibly around .12 In hindsight it appears people in the know were selling stock mid March before the March 31 deadline the company gave to report on data and it has been going down ever since. Algernon and Chris don't seem too interested in pursuing FDA or saying they want to go to Phase 3. They have always hedged about any interest in going to Phase 3. If they did want to go they would either have to put up a lot of money themselves ( realistically they would have to have great news and insentive to want to do that ) or big pharma type would come in. If the current results were strong enough a big company would have shown ineterest by now........the stock price doesn't even hint that might be possible. Thre was those great comments by the doctor on what appears to be strong results in reducung lung scaring in patients which you would think Algernon would show some excitement about it but the just downplay it and don't tell us they want to pursue that.....
DMT as many have said was a distraction from Ifenprodil with Chris suggested this might be the next big thing. He shows little interest in ifenprodil now and limited interst in chronic cough and IPF. DMT has Phase 1 to do , then consider phase 2 ( which sounds like maybe the end of the year to start if all went well ), then a few months more to review and report data ( that puts it to next spring ).
What is the company going to do in the meantime......take the stock lower and lower to buy back cheap stock, then wind up the promo machine at some point and do it ( pump it ) all over again !!! Bottom line it is a tiny penny stock company with lots of shares outstanding, owners and Directors make a lot of money but public shareholders do not. As I have said before the stock in the last 12 months has basically been in the 25-35 cent range except when they pumped the stock up for the required number of days so that warrants could be excercised, then idropped right back in the trading range.. For all the time in last 12 months , effort, promotion,phase 2 trials ( which I think they were not run well and I think Algernon was very inexperienced at it ), dog and pony shows, etc. and they can't move a stock more than 10-15 cents !!!!...... and sadly lots of us believed it had some great potential by what we were told and public information that is out there about ifenprodil
That's my rant for today. I hope I am proven wrong but no signs out there