Algernon Pharmaceuticals (AGN), a clinical-stage pharmaceutical development company reports a delay in completing its site audit due to a fire.
However, Algernon reports that the source data audit from all sites and all patients is now complete.
The database will be locked for analysis on March 5, and Algernon will update the market on the final data release shortly after that.
Additionally, Algernon has confirmed that a significant number of patients in the study did receive some form of an imaging scan as part of their release protocol from the hospital.
While Algernon believes the data may help establish Ifenprodil’s possible role in reducing post-COVID infection lung scarring, to ensure the final data process is not delayed further, the data will be reviewed as supplemental, at a later date.
Algernon is a drug re-purposing company that investigates safe, already approved drugs.
Some of these drugs include naturally occurring compounds for new disease applications, moving them efficiently and safely into new human trials, developing new formulations and seeking new regulatory approvals in global markets.
Currently, many different studies are taking place. At the beginning of February, Algernon signed an agreement with Charles River Laboratories for DMT preclinical studies.
Charles River Laboratories have previously worked with Algernon and is considered a trusted vendor, according to the CEO of Algernon Pharmaceuticals, Christopher J. Moreau.
Algernon specifically investigates compounds that have never been approved in the U.S. or Europe to avoid off-label prescription writing.
Algernon Pharmaceuticals (AGN) is down 2.78 per cent and is trading at C$0.35 at 3:38 pm EST.