Algernon Pharmaceuticals Looks to U.S. for Help Fighting Strokes
Canadian company Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE) thinks investors in the United States will understand and support its mission to repurpose already approved drugs for new disease indications.
The company listed on the Canadian Securities Exchange (CSE) has applied to list its common shares on the Nasdaq.
Algernon Chief Executive Officer Christopher J. Moreau said he thinks Nasdaq investors may be more knowledgeable and experienced in the pharmaceutical sector and will be more interested in what the company has to offer.
“The CSE is an excellent place for companies that need initial seed capital and for resource, mining and some tech deals,” Moreau told Streetwise Reports. “But specifically, when it comes to pharmaceutical development, I don’t personally believe it’s that well understood [by] the Canadian investor community.”
He said it “may take some time, but I believe we will slowly get to the valuation we deserve for all of our research programs” on the Nasdaq.
The company said there is no timeline for when its Nasdaq application could be approved, but a guide on the Nasdaq website said it usually takes four to six weeks for an initial application to be considered.
In anticipation of the application, the company consolidated its stock on a 100 to one basis in November. As a result of the move, technical analyst Clive Maund is rating the company’s stock …
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