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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 Justdosomeddon Sep 16, 2022 1:51pm
141 Views
Post# 34967460

Lots of Potential for the DMT Phase 1 Trial

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.
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