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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.


CSE:AGN - Post by User

Post by Whalewatcher1on Jun 27, 2022 9:46pm
216 Views
Post# 34786238

What’s use of funds?

What’s use of funds?Does anyone understand use of funds for raise? It's up to $2m yet as of Feb 28 they had $1.8m cash and $1.4m payables with $1.8 m quartet burn rate. Seems they are insolvent, and the razor gives a couple of months with no milestones to be met? Stock price also looks to be below Nasdaq min listing requiremts, so another share consolidation? In data is due in July, haven't they already seen it and I'd good why wouldn't they wait to release? At the same time mark willloams company Marvel Biosciences is raising up to $700k, they look to be in same situation of running out of cash and no milestones with raise. What would someone invest, am I missing something? Are they related in some way, both doing drug repositioning? 
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