Algernon Pharmaceuticals Inc. C.AGN

News Release

[Arbourmark]

I am struggling to understand AGN management and their decision to release yesterdays news release.

I have analyzed the trading prior to the halt. If you recall last Friday the share price began to run in the last 30 minutes. When the markets opened again Monday morning the shares continued to soar to .54 cents and the trading was halted at the request of the company upon news at .48 cents. This was not a halt initiated by IIROC, it was at the companies request.

We all know it was halted around 2pm and did not open again until Tuesday morning after the news release. We all know that they were finished with PHASE 2 and were anticipating either positive data or negative data.

I am not sure if other agrees but first off, why could they not have waited to release that fluffy news release after the markets closed. What was so earth shattering that it even required a halt? Why did they even release that news release with no data? Why not wait until you have material news. This is classic penny stock news release with no substance.

I know it is quite easy to be an arm chair quarterback and criticize management and their decisions.

I for one was dissappointed and obviously so were the markets as they punished the stock upon the open and continue to do so. To simply say the results were positive, what was the purpose with no supporting data. What was positive, they finished the phase 2 trial??

I have a position in another small cap pharma play ARCH, yesterday they released news, the stock was halted for 1 hour and it was material news with Federal Government providing $6.7 M in grant.

I am just scratching my head on AGN management decision to release the news that they did when the share price had momemtum prior to the release and investors were anticipating news release with supporting data or substance.

[luvhorses]

The RUN UP was  funken rigged....simple! A lot of people lost a lot of $$$ in just the past few days as they were buying on anticipation of some REAL news....when it came out....yep, disappointment for sure! Kalli made a huge funken amount of you guys.....he's laughing all the way to the bank, dudes!!!

[Closure70]

That sort of buying behaviour has its risk.. You lost if you sold....if your playing it and don't know what your doing...you lost, easy as that.

[Whalewatcher1]

nice post arbourmark, this looks like classic stock promoters directing traffic. They all love halting the stock to make people believe positive press release is coming.