Another Solid Day of Trading After the Additional Data Without a doubt, there's a substantial global problem within the medical industry as there are too few dominating pharma companies who hold a monopoly over life. This monopoly also hides the need for further research into drug repurposing, which is exactly what $AGN.C is doing.
Their numerous studies into existing drugs with new formulations to help maximize drug potential have already shown positive results. For example, their Phase 2 Ifenprodil study on the treatment of IPF showed statistical significance, with 65% having improved vitality by the end of the 12 weeks (compared to 40% in placebo trials).
Yesterday, they released further positive topline data that Ifenprodil was shown to be much more effective at reducing cough in patients than initially reported. And so far, the data has been well-received, with the stock pushing up 8% today.
- Significant improvement in mean objective 24-hour and waking cough counts after 4 and 12 weeks.
- The 24-hour cough means were reduced by 32.0% at 4 weeks and 39.5% at 12 weeks compared to baseline numbers.
- Awake cough counts fell by 30.2% at 4 weeks and 37.4% at 12 weeks compared to baseline.
https://ca.finance.yahoo.com/news/algernon-pharmaceuticals-reports-additional-positive-110000418.html
Alongside the reported positive IPF results that I mentioned above, this further supports $AGN.C’s hypothesis on Ifenprodil being a valuable medication for both chronic cough and IPF. As healthcare costs continue to skyrocket, there's a significant gap in the market for $AGN.C to take advantage of. With only a $5.4M market cap (and a pt of $25), there's a significant upside for the company here as the positive results continue to show and trials progress.