Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE) is "back on track and focused on its pipeline," Research Capital Corp. analyst Andre Uddin noted.
In addition to idiopathic pulmonary fibrosis, the drug repurposing firm is advancing Ifenprodil in refractory chronic cough and recurrent small cell carcinoma, aiming to commence a clinical trial in each of the two latter indications in 2022.
"We view refractory chronic cough as Algernon's priority indication down the road and believe investors should keep a close eye on it," Uddin wrote.
Regarding its clinical program using N,N-dimethyltryptamine (DMT) in stroke, the biopharma filed a clinical trial application in the United Kingdom to conduct a Phase 1 study.
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Disclosures for Research Capital Corporation, Algernon Pharmaceuticals Inc., Jan. 28, 2022
Relevant disclosures required under IIROC Rule 3400 applicable to companies under coverage discussed in this research report are available on our web site at www.researchcapital.ca
This Issuer has generated investment banking revenue for MRCC.
ANALYST CERTIFICATION: I, Andre Uddin and Yue Ma, certify the views expressed in this report were formed by my review of relevant company data and industry investigation, and accurately reflect my opinion about the investment merits of the securities mentioned in the report. I also certify that my compensation is not related to specific recommendations or views expressed in this report.
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