Algernon Pharmaceuticals Inc (AGNPF)

[Money $hot]

Innate becomes the latest loser in MS

Tiny Australian biotech Innate Immunotherapeutics crashed on the Australian stock market Tuesday after announcing its multiple sclerosis drug failed to show any clinically meaningful benefit or statistical significance.

Innate announced topline data from a Phase 2b study of MIS416 in patients with secondary progressive multiple sclerosis.

The company intends to conduct further analysis of the data but said "it is unlikely the result will significantly change."

www.biopharmadive.com/news/innate-multiple-sclerosis-phase-2-failure/445952/

Phase 2 of trials is where the rubber meets the road. It's literally All or Nothing betting.

Cannabix's Letter Of Intent is to allow Nash Pharmacueticals to take over Breathtec for the purpose of "repurposing" drugs and enter directly into Phase 2 trials (which take years), after a year or so of preparation.

Innate Immunotherapuetics is described as a "tiny" biotech company. Innate was founded in 2000 in Australia, their current market cap is 12 Million USD.

Mark my words, we are heading down a volatile and dangerous path with Breathtec's current LOI.

/////AMG