As they have demonstrated quite well over the past month, they had, and still have every intention of fu@%ing over their common shareholders at every opportunity until the up list is complete, or until they are told to go back to the drawing board and come back when they have built more value.
On Oct, 24th, I shared a list of the 5 probable catalysts between then and Dec 2nd (the date Nasdaq was most likely to give their final decision). I did that work for my own DD, but because of the Nasdaq PR, I shared it to show there are near-term value building events on the horizon and to call managment into question publicly as to why they're doing this now.
Currently, 3 events have come to light- DMT pre-clinical data on part 2, MHRA positive feedback, and we know they received news to go back to the drawing board on DMT in the US next year, so they have had their pre-ind on DMT.
We still have pre-INDs on sclc and cc to hear about. If they plan to move forward with them next year then news should be coming very soon.
We still have 100% trial enrollment in CC/IPF AUS/NZ to hear about. High probability to hear about that very shortly, also, considering Australia actually opened up borders to two countries and intra-country on November 1, earlier than the Nov 5th they originally stated. That's 19 days now Algernon's had to enroll and on-board the remaining waitlist, which should have made 22 patients, at last count.
Even that list was only a partial list of the potential short to mid-term catalysts, 0-6 months. And that should have had a good impact on company and share value by year's end.
As well as the list of 5 catalysts, I mentioned the probability of early Q1 for starting to see patients in Ph1. Moreau has confirmed the start of Ph1 in early January. It only takes 2 weeks to gain approval for their Ph1 trial. Big catalyst!
Before my most recent research I expected their trial to be complete by June 1st. Ph2 start by July/ August. In actuality, depending on the number of people in the Ph1 Healthy Volunteer trial, they could complete the volunteer portion of their trial in just weeks and move out final data within mere months. CM keeps talking about how easy this Ph1 trial will be and how they are not concerned about safety, at all, so they are looking squarely onto Ph2 with pure excitement and knowing success to come.
For example, One such recent DMT, Healthy Volunteer, trial with 30 participants, completed their participant portion in 15 days and had trial completion in 3 ¹/2 months. Unless there are delays to the start or it's much larger than 30 people, I now fully expect Algernon's DMT trial with data release to be completed by May 1st. How's that for a huge catalyst for which Nasdaq isn't needed prior?
If they have $3.5M CA, then why the hurry to push Nasdaq? They have all the funds necessary to complete their Ph1, get data, build tremendous value and gain partnership into Ph2 without and prior to uplisting.
THERE IS SO MUCH VALUE TO BE BUILT WITH WHAT YOU'VE ALREADY STARTED. WHAT IS YOUR FU@%ING HURRY TO START ALL OF THESE OTHER TRIALS, CHRIS?
Since I posted Oct. 24th, I have spent weeks deciphering and building a valuation of Algernon based on their 30nM DMT solution alone. As I stated before, I do not understand why anyone thinks the value of 30nM is small, IT IS NOT!
I had originally done this work for myself, but after they continued allowing the company and value to spiral, and did not respond privately to enquiry, I decided to put together a very lengthy breakdown of the potential DMT value and it's range. This, of course, was also to help show why this is still the wrong time for Nasdaq, and that reverse splits aren't needed to build share price in order to uplist in the near futute.
Ironically, I was finishing up that post the morning they went public about their reverse split, which I should have realized they might do since that was the '4 week date' of when all final paperwork needed to go back to Nasdaq in response to any issues brought to their attention.
Anyway, more than anything else, this post is to air my disdain for what they have done and how they have treated their shareholders. For, unless shareholders plan to do something about this legally, then the informatiom I have is no longer pertinent at this time.
Good luck to all. I'll share the DMT breakdown once they share the Nasdaq outcome, or once we hit a penny, whichever comes first.
Until then, don't pick up the soap, Kal's pirates are watching.
Now we wait. Over the next two weeks Nasdaq will look over their final submissions and the independent valuation will be complete.
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