Shares of
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF, Forum) rose 20% in early Wednesday trading after releasing news that it had decided to review its protocol for its phase 2b/3 study of Ifenprodil for COVID-19, to consider adding lung scarring as an additional endpoint if sufficient data is available from a significant number of patients.
Pointing to a recent
Oxford University Study where researchers found that 60% of patients had scarring or inflammation in their lungs three months after clearing the virus, Algernon’s Chief Executive Officer, Christopher J. Moreau explained that if the team determines that X-rays were taken on release of a meaningful number of our treated patients, and Ifenprodil is showing a reduction in the amount of scarring post infection, this would be an extremely important discovery for Algernon.
“If this is confirmed in the planned Phase 3 portion of the study, it would mean that Ifenprodil could be used to treat patients who have survived COVD-19 but are suffering from lung damage.”
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The Vancouver, BC-based clinical stage pharmaceutical development and drug repurposing Company recently stated that the external Data and Safety Monitoring Board has completed its
latest review of the Phase 2b part of the Company’s Phase 2b/3 human study of NP-120 (Ifenprodil) for the treatment of COVID-19, and has provided approval for the Company to continue on with the Phase 3 part of the study.
Not making any express or implied claims that Ifenprodil has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus), Algernon Pharmaceuticals CEO Christopher J. Moreau stated that as AGN awaits the final data from the Phase 2b part of its Ifenprodil COVID-19 study, it is critical for the team to know that from a safety perspective, they are now clear to move into the Phase 3 part of the study.
FULL DISCLOSURE: Algernon Pharmaceuticals Inc. is a client of Stockhouse Publishing.