Algernon Pharmaceuticals Inc (AGNPF)

[GVX808]

I'm really confused by this Mackie Research report. It seems to me they are trying hard to spin the positive data to make it sound negative. Really strange.

https://www.mackieresearch.com/client/research/document/24214?verif=53b9e0e535f8bcb61b11434263f251bd76713dff&o=f4444711
Clicking on the link works intermittently, however If you right-click on it you will be able to download the linked PDF.

Healthcare
ALGERNON PHARMACEUTICALS INC.
Rating Change

AGN (CAD$0.30) – Target: $0.25 – HOLD

Hit By COVID-19 – Downgrade to HOLD

"Weak Results with the 20mg Dose: (i) The WHO score – ifenprodil missed the primary endpoint, showing no difference from control. (ii) All-cause mortality (an FDA accepted endpoint for Phase 3 COVID-19 trials) – ifenprodil showed a very small non-significant improvement compared to control (0% vs. 3.3%, p=0.18). (iii) Oxygenation – 100% of patients with low blood oxygen on ifenprodil returned to normal oxygen levels at Day 4 compared to Day 9 for patients on control (p=0.061). (iv) Time in ICU – patients on ifenprodil spent significantly less time in the ICU than those on control."

They say "Weak Results with the 20mg Dose:", but then:

(i) They begin by talking about the b*llsh!t WHO score, which we already established as being pretty much meaningless.


(ii) 0% mortality compared to 3.3%. It's worth noting worldwide COVID-19 mortality rates:
- U.S. 1.8%
- Canada 2.3%
- Romania 2.5%
Anyway... check for yourself:
https://coronavirus.jhu.edu/data/mortality

YOU CAN'T GET BETTER THAN 0% !!!


(iii) Oxygenation – 100% of patients with low blood oxygen on ifenprodil returned to normal oxygen levels at Day 4 compared to Day 9 for patients on control (p=0.061).

YOU CAN'T GET BETTER THAN 100% !!! Also a 5 day improvement! That's huge!


(iv) Time in ICU – patients on ifenprodil spent significantly less time in the ICU than those on control.

SOUNDS PRETTY POSITIVE TO ME !!!


What is Mackie Research's deal? Seems like they are trying to tank the stock on purpose. I don't get it.