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Drug Repurposing Co. Provides Opportunity for High Rewards

 

July 21, 2022 (Investorideas.com Newswire) Vancouver-based pharmaceutical development firm Algernon Pharmaceuticals Inc. recently reported topline data from a Phase 2a trial of ifenprodil in IPF patients with chronic cough that met its endpoint and demonstrated promising initial efficacy. Research Capital Corp. advised that it is maintaining its CA$25.00/share price target and "Speculative Buy" rating on the company.


In a July 18 publication, Research Capital Corp. Healthcare Analyst Andre Uddin, Ph.D. commented that recently released topline data from clinical-stage pharmaceutical development and drug repurposing company Algernon Pharmaceuticals Inc.'s (AGN:CSE; AGNPF:OTCQB; AGN0:XFRA) Phase 2a ifenprodil study for use in treatment of idiopathic pulmonary fibrosis (IPF) in patients with chronic cough hit its mark.

Research Capital stated that the initial data should have investors and patients breathing easier after the Phase 2a study of ifenprodil (NP-120) successfully hit its primary endpoint which shows promising initial efficacy.

The analyst explained that the Phase 2a trial enrolled a total of 20 IPF patients with chronic cough. Patients in the study were administered three daily doses of 20mg ifenprodil over a period of 12 weeks. The primary endpoints were established to measure reduction in 24-hour and waking cough counts for the cough indication and forced vital capacity (FVC) of the lungs for the IPF indication. Other key secondary endpoints included biomarkers of fibrosis.

According to the analyst, the IPF data achieved one of its primary endpoints as 13 (65%) of the 20 participants enrolled in the trial were shown to have had statistically significant improvement in FVC throughout the 12-week treatment period.

Research Capital mentioned that in the Phase 2 trial, ifenprodil did not meet its primary endpoint for the IPF with chronic cough part of the study but did return some positive findings as 35% of subject patients did achieve the predetermined endpoint identified as a 50% reduction in the average number of coughs per hour over 24 hours. On a bright note, the trial was able to meet a key secondary goal of reduction in actual cough counts during the 12-week evaluation period with subjects experiencing a 24% (mean) and 38% (median) reduction in 24-hour cough count at week 12. Importantly, 75% of those in the trial saw solid improvements in their cough over 12 weeks.

Research Capital Corp. stated that Algernon presents an opportunity for a high-risk/high-reward investment as it believes that the company is incredibly undervalued since it currently has a market cap of just CA$6 million. The research firm noted that considering ifenprodil's well-established safety profile and the newly released positive topline data from the Phase 2 IPF study, Algernon is headed in the right direction in its efforts to develop a therapeutic treatment for an orphan indication that offers a very large market opportunity.

Research Capital stated in the report that, "We expect AGN to trade up on these positive results and we recommend investors with a higher risk tolerance to aggressively purchase the stock."

The report described IPF as a scarring of the lungs with unknown (idiopathic) origins. The disease causes progressive loss in the lungs ability to absorb oxygen which often leads to respiratory failure and eventually death. IPF usually occurs in individuals over 50 years old and may be linked to cigarette smoking, genetics and environmental factors.

Algernon Pharmaceuticals is a clinical-stage pharmaceutical development company based in Vancouver, B.C. that concentrates its activities on finding new uses (drug repurposing) for small molecule drugs. The company typically focuses on medicines that were approved in countries outside of the U.S. that are off-patent and show promise for use in new indications in the U.S. market.

Research Capital Corp. advised that it is maintaining its "Speculative Buy" rating and CA$25.00 price target on Algernon Pharmaceuticals Inc. The research firm indicated that it arrived at its target price by employing a probability-adjusted net present value (NPV) analysis of ifenprodil.

Algernon Pharmaceuticals Inc. shares trade on the Canadian Securities Exchange under the symbol "AGN" and last closed for trading at CA$3.20 on Tuesday, July 19, 2022. The company's shares also trade under the ticker symbol "AGNPF" on the OTCQB Market and "AGW" on the Frankfort Stock Exchange.

Disclosures

1) Steve Hytha wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. They or members of their household own securities of the following companies mentioned in the article: none. They or members of their 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. 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. 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.

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Disclosures for Research Capital Corp., Algernon Pharmaceuticals Inc., July 18, 2022

Analyst Certification: I, Andre Uddin, Ph.D., 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. Research Capital Corporation publishes research and investment recommendations for the use of its clients. Information regarding our categories of recommendations, quarterly summaries of the percentage of our recommendations which fall into each category and our policies regarding the release of our research reports is available at www.researchcapital.com or may be requested by contacting the analyst. Each analyst of Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst's personal views and (ii) no part of the research analyst's compnsation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.

General Disclosures: The opinions, estimates and projections contained in all Research Reports published by Research Capital Corporation ("RCC") are those of RCC as of the date of publication and are subject to change without notice. RCC makes every effort to ensure that the contents have been compiled or derived from sources believed to be reliable and that contain information and opinions that are accurate and complete; RCC makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors and omissions which may be contained therein and accepts no liability whatsoever for any loss arising from any use of or reliance on its Research Reports or its contents. Information may be available to RCC that is not contained therein. Research Reports disseminated by RCC are not a solicitation to buy or sell. All securities not available in all jurisdictions.

Potential Conflicts of Interest: All Research Capital Corporation ("RCC") Analysts are compensated based in part on the overall revenues of RCC, a portion of which are generated by investment banking activities. RCC may have had, or seek to have, an investment banking relationship with companies mentioned in this report. RCC and/or its officers, directors and employees may from time to time acquire, hold or sell securities mentioned in our Research Reports as principal or agent. RCC makes every effort possible to avoid conflicts of interest, however readers should assume that a conflict might exist, and therefore not rely solely on this report when evaluating whether or not to buy or sell the securities of subject companies.

RCC USA: Information about Research Capital Corporation's Rating System, the distribution of our research to clients and the percentage of recommendations which are in each of our rating categories is available on our website at www.researchcapital.ca. The information contained in this report has been drawn from sources believed to be reliable but its accuracy or completeness is not guaranteed, nor in providing it does Research Capital Corporation assume any responsibility or liability. Research Capital Corporation, its directors, officers and other employees may, from time to time, have positions in the securities mentioned herein. Contents of this report cannot be reproduced in whole or in part without the express permission of Research Capital Corporation. US Institutional Clients - Research Capital USA Inc., a wholly-owned subsidiary of Research Capital Corporation, accepts responsibility for the contents of this report subject to the terms and limitations set out above. US firms or institutions receiving this report should effect transactions in securities discussed in the report through Research Capital USA Inc., a Broker - Dealer registered with the Financial Industry Regulatory Authority (FINRA).

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