NEW: No-Cost Streetwise Live! Events. This type of intellectual capital is usually not made available to the general public. Learn More

Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: AGN; AGNPF; AGW

Pharmaceutical Firm Doses First Patient in Phase 2 IPF and Chronic Cough Trial
News Update

Share on Stocktwits

Source:

Algernon Pharmaceuticals reported that the first patient has been dosed in the Phase 2 human study of Ifenprodil for treatment of idiopathic pulmonary fibrosis and chronic cough.

In a news release, Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE) announced that "the first patient has been dosed in its Phase 2 idiopathic pulmonary fibrosis (IPF) and chronic cough clinical study of its re-purposed drug NP-120 (Ifenprodil)." The firm advised that this patient was enrolled and dosed at New Zealand's Waikato Hospital.

Algernon Pharmaceuticals noted that the objective of the Phase 2 proof-of-concept human trial is "to determine the efficacy of Ifenprodil in the preservation of lung function in IPF patients (including biomarkers of fibrosis) and its associated cough." The company indicated that the study will be conducted at three locations in Australia and two in New Zealand.

The firm claimed that "Ifenprodil has been shown to mediate anti-inflammatory responses and reduce pulmonary fibrosis in a murine model of IPF, and in addition, it significantly reduced both cough frequency and onset in a guinea pig acute cough model."

The company's CEO Christopher J. Moreau commented, "Ifenprodil showed very promising results in our IPF and cough pre-clinical studies and so I am very pleased to announce our first patient in and the formal start of our clinical program...As the study progresses, the Company will make an assessment of the enrollment rate and will provide an update to the market on a projected completion date as well as when the data will be expected."

The firm described NP-120 (Ifenprodil) as "a N-methyl-D-aspartate (NMDA) receptor antagonist specifically targeting the NMDA-type subunit 2B (Glu2NB) and that Ifenprodil prevents glutamate signaling." The company explained that that NMDA receptors are found on various tissues such as lung cells, T-cells, and neutrophils.

Algernon Pharmaceuticals added that it has received net proceeds totaling $636,000 from the issuance of 5.3 million common shares upon the exercise of common share purchase warrants under the recent financing arrangement that closed on May 13, 2020.

Algernon stated that it has already filed new intellectual property rights globally for NP-120 (Ifenprodil) for use in treating respiratory diseases and is presently working on creating its own proprietary injectable and slow release formulation.

[NLINSERT]

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. 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. 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. 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 interview or the decision to write an article until three business days after the publication of the interview or 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, 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.




Learn More about Streetwise Reports Live

Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe