My biggest concern with Algernon
In my honest opinion, what is really weighing in on Algernon's stock price is the rollout of multiple vaccines showing 95% efficacy.
In March & April, a faint whisper of a drug for covid-19 made a stock shoot up 100%. There were no vaccines and scientists were saying it would take years before any rollout. Well, the times sure have changed!
Our CEO can repeat/remind us till he's blue in the face that there's still a need for therapeutics, the market doesn't care.
In my opinion, Algernon would have been better off sticking to only IPF/chronic cough and ignoring covid all together. The animal data for that is very convincing and the company doesn't have much competition, ifenprodil could be a lead drug for IPF.
Instead, shareholders got cheap financing and more dilution to bankroll a phase 2 covid trial. And now we face more cheap financing and more dilution to finance a phase 3 covid trial.
Dilution, dilution, cheap paper, dilution.
Ask yourselves this question : Is this drug SEXY enough to warrant a phase 3 trail for covid?
The (little, summary of) data we just received suggests MAYBE? I for one am not that excited after reading beyond the title of that news release. After the phase 3 trial is complete and many more shares outstanding, how much of our population will be vaccinated? How many other therapeutic options will there be? Uncertain indeed.
The company's share structure and investors trust has has been infected by this heinous virus, and Algernon would have been better off without it.
Just my 2 cents.
B. O. B.
