There is nothing more important for a new company than a capital efficient business model, and Algernon Pharmaceuticals (CSE: AGN) is a great example of this.
To date, AGN has received over CDN $3M in total cash refunds from its R&D work in Australia. Algernon tries to conduct as much of its clinical research in Australia as possible because of its 43.5% refundable R&D tax credit program.
AGN has a very tight share structure with only 2.36M outstanding, and 15% institutional/insider holdings.
The company also recently applied for Orphan Drug Designation for Ifenprodil, its treatment for IPF. If received, ODD will make AGN eligible for further tax credits on costs related to clinical trials, in addition to seven years of market exclusivity.
AGN.c is currently trading at $3.72, valued at $8.77 million.
https://ceo.ca/@GlobeNewswire/algernon-pharmaceuticals-announces-receipt-of-cdn-450k