I don't see (understand) where anything prevents those eligible for the Rights Offering from buying and dumping existing stock. Canadian shareholders are literally on the verge of determining their own fate in short order. They either want to help the company raise money to stay afloat by either buying or selling their rights. They also have the right to do absolutely nothing. That option seems like committing Hari-Kari if I were in their shoes. If you become more active and push back hard on the mismanagement with your money to date, you may not be in the position you find yourselves in now. Do any of you go to the annual meetings? You could bet if they held them in the USA they would have gotten standing room only. Moreau is a horrible CEO with a horrible track record, He should have been long gone a longtime ago. All his checkers, not chess moves have only enriched those in the inner circle. Moreau's resignation could lift the company out of the Abyss he dove the company into head first years ago. Moreau just likes following trends or what he thinks is the hottest topic at the moment to justify putting his mug shot on every disastrous penny outlet to tell stories. First It was COVID-19. Then it was DMT. Now it's "standalone" Chronic Cough. COVID turned out to be a longshot that Moreau claimed would be a cakewalk. DMT for Stroke (brain surgery) seems like the most extreme angle to take for any company out there pursuing psychedelic treatments. Now it's standalone Chronic Cough where More has flip flopped on not running a standalone Chronic Cough study, to now wanting to run a standalone Chronic Cough study because well...well...Now he wants to chase a Billion Dollar Market Cap. Go figure. Of course it’s now a reactionary decision to go after a standalone Chronic Cough study. A proactive decision would have put Algernon Pharmaceuticals in the lead had they targeted Ifenprodil for cough only from the outset in Calendar Year 2019. Instead, Moreau pinned down and pigeon-holed Chronic Cough in Australia with very sick Idiopathic Pulmonary Fibrosis patients. Worse yet, Australia being the slowest enrollment rate country on Planet Earth irrespective of it’s COVID-19 shutdown, it took them 2 years to get data for 20 patients in comparison to Bellus Heath running a 200 patient standalone Chronic Cough study in the USA from beginning to end in 11 months with final data. The two companies' comparative management teams and styles are like Night versus Day.
Algernon Pharmaceuticals THREW AWAY the following overall plan:
Algernon Pharmaceuticals Provides Update on its Planned Phase II Clinical Trial
November 25, 2019
https://www.algernonpharmaceuticals.com/news-media/news-releases/detail/126/algernon-pharmaceuticals-provides-update-on-its-planned
This following remains the best data in Algernon;s entire pipeline:
Algernon Pharmaceuticals NP-120 (Ifenprodil) Outperforms Merck’s Phase 3 Drug MK-7264 (Gefapixant) in an Acute Cough Study by 110%.
December 5, 2019
https://www.algernonpharmaceuticals.com/news-media/news-releases/detail/125/algernon-pharmaceuticals-np-120-ifenprodil-outperforms
If Algernon’s outperm percentage data (110%) is true, why would they not have gone head up with a Multibillion dollar pharmaceutical company that could have genetically created global headlines that didn’t require making stuff up as you fumble and bumble along in Penny World?
In lieu of the above plan(s) Algernon made a disastrous decision to follow the hottest pennyland trend (chasing a never before known disease down a wicked Rabbit Hole) versus following the strongest data in the pipeline purchased by all shareholders, from Nash Pharmaceuticals:
Algernon Pharmaceutical Explores the Use of NP-120 (Ifenprodil) as a Novel Treatment for Coronavirus
March 6, 2020
https://www.algernonpharmaceuticals.com/news-media/news-releases/detail/115/algernon-explores-the-use-of-np-120-ifenprodil-as-a-novel
It’s not Monday Morning Quarterbacking when you can see/read/comprehend with your own two eyes and left/right brain - how Algernon Pharmaceuticals continues to fumble and bumble quarter after quarter, and year after year. Purchasing tickets to “the game” is now at all-time lows. But for the 100:1 reverse split turned 25:1 forward split, to date the share price would be CAD 0.011 and USD .008 (less than 1 penny). The hunt is now about keeping the lights on verus raising the captal needed to run a standalone Chronic Cough clinical trial. So much time, money, effort, energy, competence, conviction, trust, loyaty....yada yada yada...just wasted away.
