News OutWhen you're trading at 8 cents on the CSE how are you qualified for Nasdaq. They are already on the OTCQB.
VANCOUVER, British Columbia, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPF) (the “Company” or “Algernon”), a clinical stage pharmaceutical development company, is pleased to announce that it has recently received a CAD$2M cash payment from a refundable tax credit program from its clinical research work in Australia, which brings Algernon’s current working capital balance to approximately CAD$3.5M.
The Company also wishes to announce that it has submitted an application to have its common shares listed on the Nasdaq Capital Market. The listing of the Company’s common shares on the Nasdaq Capital Market remains subject to Nasdaq approval and the satisfaction of all applicable listing, governance and regulatory requirements. While the Company intends and believes it will be able to satisfy all of the applicable requirements, there is no assurance that it will be successful in satisfying the listing requirements or its application will be approved.
“Algernon has a unique drug development business model and multiple research programs that are currently in both pre-clinical and human trials,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals. “Moving the Company to a U.S. national stock exchange should help improve our valuation and is expected to provide the Company with access to new investors who specialize in and understand pharmaceutical development.”