Continued Progress With Their Research Drug development is often lengthy, dangerous, and extremely expensive alongside the unknown results that will occur. $AGN.C is a company focusing on drug development with a rather different approach. Instead of creating a new drug from scratch, $AGN.C is focusing on drug repurposing of existing/proven drugs for new treatments. This repurposing gives $AGN.C numerous advantages over traditional drug development, such as lower costs, far safer as the drugs have been studied for years, and they are faster to market.
Now, considering $AGN.C has been recently upping its developments, there are a couple of things I want to focus on today with the Australian Research Program tax receipt and the orphan designation filing for Ifenprodil. The company recently received $450k cash from a refundable tax credit program for its clinical research work in Australia. This means that the company has $450k cash to work with without any extra debt or shareholder dilution and will help any future research development. Secondly, the orphan designation filing for Ifenprodil as a treatment for IPF does a few things for $AGN.C.
- It qualifies sponsors for incentives, including tax credits for qualified clinical trials, exemption from user fees, and a potential seven years of market exclusivity after approval.
- With IPF affecting around 100k people in the US, it falls within the 200k threshold required for orphan designation.
Orphan designation applicants will hear back from the FDA within 90 days. This would be a significant catalyst for the company as the incentives will considerably lower direct costs from $AGN.C and provide exclusive rights when they enter development.