Algernon Pharmaceuticals Inc (AGNPF)

[Money $hot]

Just so we’re all clear here. The pattern of news release events prior to imminent data is playing out in the same way it did to the run up to COVID-19 Topline data. At that time management put out news releases stating the following:

January 19, 2021

Algernon Pharmaceuticals Receives Green Light from DSMB to Conduct Phase 3 Study of Ifenprodil for COVID-19

March 02, 2021

Algernon Pharmaceuticals Announces Private Placement

March 31, 2021

Algernon Pharmaceuticals Announces Topline Data From its Phase 2b/3 COVID-19 Trial of Ifenprodil

Here is the recent news release events prior to Topline data for IPF/CC:

June 15, 2022

Algernon Pharmaceuticals Announces Public Offering of Units

June 21, 2022

Algernon Announces Patients Requested Ongoing Supply of Ifenprodil after IPF and Chronic Cough Phase 2 Ended

Of course Topline data you’d think would be the next news release other than maybe the closing of the offering. However, the point here is it’s the same pattern. Algernon has again used a group of people to imply the pending data will be compelling.The DSMB “Green Lighting” Phase 3 trial was absolutely meaningless in the grand scheme of things. Yet, it was used in an attempt to pump the stock for a Private Placement. The news release yesterday uses some number of patients whom Algernon claims wants to continue use of Ifenprodil. It’s a pump for the Public Offering.

Furthermore, the IPF/CC study is only 20 patients. How many of the 20 patients requested further use of Ifenprodil and to what clinical effect? The news release literally tells us nothing of truly useful data that allows you to make an informed decision. The last series of news releases lead everyone over a cliff. Is there any evidence that’s not the exact same thing that will happen very very shortly? Who’d take that bet knowing all you know now about how Christopher Moreau operates? Wall Street appears to have taken a pass on all that foolishness.

If they're so giddy about the data when are they going to run a true Phase 2 clinical trial for Chronic Cough? The happy talk doesn't get you any further down the road to recovery. They hold up the IPF/CC study as being something important but have absolutely no urgency to het to a true Phase 2 data readout. Bellus Health is the only company standing in the way of a potential Return of Investment. Yet, Moreau will slow roll such a clinical trial to no end - while putting all dilution efforts into long-shot Phase 1 studies that are 5 to 10 years away from getting to meaningful ($) data.

M$