Lots of Potential for the DMT Phase 1 Trial Algernon has had a lot of recent news/study results come out from the promising chronic cough and IPF study. However, they're also researching drug repurposing for a number of other diseases as well. For example, using Reprinast to treat chronic kidney disease or DMT for stroke patients. Most recently, the phase 1 study for the use of DMT on stroke patients was approved. The study will be conducted in the Netherlands and will begin screening for subjects shortly. Furthermore, the first subject will be dosed in Q4. But why does DMT potentially have a positive effect on patients?
- Preclinical studies demonstrated that DMT helps mitigate tissue damage and promote neurogenesis as well as structural and functional neural plasticity.
- These are key players in forming and reorganizing synaptic connections, which help brain recovery following a brain injury.
- Again, in a preclinical study, $AGN.C found growth of cortical neurons by up to 40% compared to control, further cementing the potential of DMT as a useful drug for stroke recovery.
https://ca.finance.yahoo.com/news/algernon-pharmaceuticals-receives-approval-groundbreaking-110000273.html
I really like how the company has decided to focus on drug repurposing as it takes out a lot of the risk/unknown danger factors when creating and testing a new drug compound. it's strange to see such a promising company with the continued growth/constantly improving IP at such a low valuation of just $11M. Looking at the recent performance, there's a lot of room to grow, especially with their target markets being mostly monopolized or unmet.