Positive Performance With Recent Study Results Algernon Pharmaceuticals is up another 11% today as the recently released results from the Ifenprodil IPF and Chronic Cough study continue to show signs of promise for both patients needing an effective treatment and investors looking to invest in the high-potential drug formulation. Focusing on just the IPF market, there are only 2 approved treatments for slowing the progression of IPF; pirfenidone and nintedanib. Due to the duopoly, these treatments can cost up to $100,000 per patient. And with around 30,000-40,000 new cases each year, there's a significant market of people who need lower-cost treatments.
https://medlineplus.gov/genetics/condition/idiopathic-pulmonary-fibrosis/
The statistically significant results coupled with the adjusted geometric cough means shows that $AGN.C’s approach of repurposing drugs to treat other diseases is beginning to pay off. For those who aren't too familiar, I've written the statistics below.
- The geometric mean 24-hour cough counts were reduced by 32.0% at 4 weeks (p = 0.023) and 39.5% at 12 weeks (p = 0.001) compared to baseline.
- The geometric mean awake cough counts were reduced by 30.2% at 4 weeks (p = 0.038) and 37.4% at 12 weeks (p = 0.002) compared to baseline.
- Of the 20 patients who enrolled, 13 (65%) had stable or improved FVC over the 12-week treatment period when compared to an anticipated placebo effect of 40% (statistically significant)
Overall, the current market cap still doesn't reflect the true value of the company. With both the market needing disruption and the company continuing to develop, there's a lot of upside potential left here.