Post by
BehStreet on Jul 10, 2020 9:44am
Good morning fellow longs (and trash posters)
It's been a while since my last post as I needed a break from the nonsense. One observation as of late - Lovhouses is gone, and ironically, all the stupid posters that follow him are gone as well (interesting)..
Let's get to the subject at hand, Algernon.
Well, the technicals sure have changed for the better. AGN has made a solid bottom at .18 cents after a selloff of cheap warrents that came free trading. Shorters love shorting when that happens, and savvy investors who recognize this see it as a great buying opportunity. Hope some of you where able to capitalize sub .20 cents! We are now on the verge of closing a great trading week, resulting in a break of the downtrend. Any of you chartist analyzing the weekly or monthly timeframe chart of the past year to date might notice something very bullish forming as well (hint-it's an inverse classical pattern).
We recieved great news this week that Algernon has started screening patients for their IPF/Chronic cough phase 2 trial, right after their competitor Bellus flunked it's chronic cough trail (clap, clap!) I suspect we'll recieve news of "first patient dosed" in that trial this month. Now that will be a mile stone for the company as it has never dosed a human in a clinical trial (should be big news indeed). This study also de-risk's the stock some as we will now be testing Ifenprodil on 2 different ailments (Covid19 and IPF).
On the Covid front, the company said recruitment for their 2b/3 trial should start before the end of July 2020, so expect some news within the next 20 days (hopefully).
As for these outlandish price predictions, ie "3 dollars by the end of July/August", well, any sane person of average intelligence would see that for what it is - Scary Stuff!
With the information provided to us from the company, along with the chart and pending news, a more resonable price prediction for the end of July would be - The hell if I know! (let's for fun say north of .50 cents *if* the company is punctual on upcoming news)
As always, JMO.
GL Longs
BehStreet
Comment by
GOBOGOH on Jul 10, 2020 10:19am
Behstreet, Do you know if the drug - repairs damaged lungs or helps prevent the damage from happening (ie, can it help in the earlier stages of Covid infections). If later is the case and can be proven then the stock would have great potential. Thanks
Comment by
MoneyTalks22 on Jul 12, 2020 10:36am
Algernon website states .... NP-120 (Ifenprodil) recent study demonstrated a statistically significant improvement in established fibrosis, showing reduction in fibrosis