RE:Facebook Live with Algernon.......my comments I am not surprised in their lack of interest and now blaming vaccines and lack of patients for phase 3.
The facts are the company currently has a market cap of 22M with 140M shares outstanding.
A phase 3 trial could cost as high as $50M, how could they raise $50 M, they would have to double the share count if they could find enough buyers. I don't think management has that kind of credibility.
talisman47 wrote: Was hoping to hear a discussion on the data ( good and bad ) and for Algernon to provide positive direction on where they are going from here...........came across as I don't think they know where they are going at this point
Overall the facebook live session came across as lethargic and unenthusiatic on Chris Moreau's and Algernon's part. Nowhere near excited about ifenprodil as he once was. Not offering encouragement or potential positive outlook but more a session of things don't seem to be working out like we thought, to do more costs money and do these results warrant spending more money , the feeling that FDA may not have intestested in them at this point and no indication or hint of any investors, big pharma interested in the Algernon story.
I think they are realizing there are issues with ifenprodil being a repurposed drug ( trying to get big pharma to have any interest ) . Don't know if the data results are significant enough to interest them . Repurposing drugs have the positive benefits but there is the negative as well.
They said often before the data that regardless of vaccines coming out that there will always be a need for therapeutics ( now they say it may be harder to find patients for studies and with regards to EUA they suggest with millions of people being vaccinated now that the FDA may not feel the urgency to look at Algernon and ifenprodil unless it shows a major significance to help and show strong enough data results )
They don't seem to have the desire, the enegy or the money to want to take on a Phase 3........unless they can get funds from other sources ( grants, pharma investors, etc. ).
I try to still be a believer in the company ( have been an investor for over a year ) but without stock movement beyond the 25-35 cent range it gets more difficult. What do we expect to happen over the next 6 months......Chris, if you are reading this give us a plan !!