Latest News

Will Pharma Co. Keep Pushing Higher After Full Data Set Released on Lung Disease Study?

September 6, 2022 ( Newswire) One small-cap pharma co. just published more good news on a possible treatment for patients suffering from idiopathic pulmonary fibrosis, a lung disease that’s usually terminal. Find out why the company has more near-term catalysts and may continue to build on an 84% gain since a private placement in mid-August.

Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGN0:XFRA), a Canadian pharmaceutical development company, reports that the full data set from its Phase 2a study evaluating NP-120 or Ifenprodil to potentially treat idiopathic pulmonary fibrosis (IPF) and chronic cough is just as positive as the previously published top-line data.

The full data set even included statistically significant improvements in measures of cough.

That data took into account additional measures of efficacy, including the impartial measurement of lung function and patient-reported outcomes of both IPF and cough. These were not reported in the initial top-line data.

“The story here is that all of the secondary endpoints, including the tests for how carbon monoxide is transferred in the lungs, assessment tools used to determine shortness of breath, the overall health of the individual – all of these other indicators – are showing that everything is moving in the right direction,” Algernon CEO Christopher J. Moreau told Streetwise Reports.

Chris Temple, editor and publisher of the National Investor newsletter, has been following Algernon and writing about the latest news.

“I have followed Algernon intermittently for quite some time; very intrigued by the story and thesis but – at least in this example – wary about catching a falling knife,” Temple wrote. “But it appears that the knife has finally hit the floor recently, and news out this morning has helped Algernon take a big step toward fulfilling its mission.”

Technical Analyst Clive Maund agrees and says the outlook for Algernon is good as the company just passed the 200-day moving average of CA$5.33 per share.

“Fortunately, we bought it at a great entry point … we cannot rule out a minor reaction here before a larger move up,” Maund wrote in a September 1, 2022 post on

Top-Line Data

In late July, Algernon published the top-line data from a 12-week Stage 2a proof of concept study using Ifenprodil to treat IPF and chronic cough. IPF causes scar tissue to grow inside your lungs and makes it difficult to breathe, and the prognosis is poor. The median survival ranges from 2.5 to 3 years.

Of the 20 IPF patients who enrolled, 13 or 65% had stable or improved FVC over the 12 weeks, whereas 40% of those treated with a placebo demonstrated similar or higher FVC over those 12 weeks.

“The full data set is excellent,” said Dr. Martin Kolb, a professor of respirology at McMaster University in Canada and a global expert on IPF. “This data enhances my belief that this drug merits investigation in a much larger trial.”

The full results of the trial will be presented at the 21st International Colloquium on Lung and Airway Fibrosis in Reykjavik, Iceland, in October. A similar presentation is slated for Reston, Va., in June 2023 at the ninth American Cough Conference.


Algernon conducted a private placement financing in mid-August at CA$3.75. Since then, the company has been on a roll.

On volume of nearly 49,000 shares on Sept. 1 and about 41,000 a day later, which is around eight to ten times more than its typical volume. AGN shares closed at CA$6.90 on Sept. 2, an 84% increase from the price in the mid-August placement.

The next step for Algernon will be a Phase 2b study for Ifenprodil, which will take about a year and have as many as 130 to 175 participants. The company will seek guidance from the U.S. Food and Drug Administration by filing a pre-Investigational New Drug application, the means through which, among other things, Algernon gets feedback on its study design and approval to run the Phase 2b clinical study.

The market for IPF is about US$4 billion,

Algernon also expects to receive approval sometime in September for a Phase 1 study on DMT (N, N – Dimethyltryptamine) to determine if it provides better outcomes for ischemic stroke patients. An announcement is expected in the near future.

In the study, Algernon scientists and the research team will test an intravenous formulation of DMT and provide the drug to patients for various durations (Phase 1 studies determine whether a drug is safe for humans).

In preclinical studies, DMT has caused neurons to grow and make new connections – a process called neuroplasticity, which is necessary after the brain suffers an injury.

The study should begin about 60 days after getting the thumbs up. The worldwide market for stroke treatment is thought to be around US$40 billion.

Algernon’s unique approach to drug development, known as drug re-purposing, means it can move several drugs forward simultaneously because it’s an efficient way to advance drugs into the clinic.

Another drug known as Respirinast, first developed to treat asthma in Japan by Mitsubishi, is being repurposed by Algernon to treat chronic kidney disease.

The company is synthesizing its own formulation of the drug, which will move quickly into a small Phase 1 study.

“We are planning and working towards having three Phase 2 trials running next year,” Moreau told Streetwise Reports.

And the U.S. Securities and Exchange Commission and the NASDAQ have conditionally approved Algernon for a NASDAQ listing, provided the company meets certain pre-specified financial conditions.

Algernon now has 2,357,885 million shares issued and remains tightly held. The company’s current G&A burn rate is about $100,000 a month.

Research Capital Analyst Andre Uddin gives Algernon a 12-month price target of CA$25.

Toronto-based hedge fund AlphaNorth Asset Management owns about 13% of Algernon.

Algernon trades in a 52-week range of CA$3 and CA$11.90.


1) Brian Sylvester wrote this article for Streetwise Reports LLC. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Algernon Pharmaceuticals Inc. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Algernon Pharmaceuticals Inc. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Algernon Pharmaceuticals Inc., a company mentioned in this article.

6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

Company Disclosures:

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. Any action taken as a result of reading information here is the reader’s sole responsibility.

More Info:

This news is published on the Newswire – a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire and

Global investors must adhere to regulations of each country. Please read privacy policy: – investing ideas in biotechnology stocks, medical technology and life sciences

Like Biotech Stocks? View our Biotech Stocks Directory

Buy a biotech guest post on

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News