Streetwise Reports – Will Pharma Co. Keep Pushing Higher After Full Data Set Released on Lung Disease Study?
One small-cap pharma co. just published more good news on a possible treatment for patients suffering from idiopathic pulmonary fibrosis, a lung disease that’s usually terminal. Find out why the company has more near-term catalysts and may continue to build on an 84% gain since a private placement in mid-August.
Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGN0:XFRA), a Canadian pharmaceutical development company, reports that the full data set from its Phase 2a study evaluating NP-120 or Ifenprodil to potentially treat idiopathic pulmonary fibrosis (IPF) and chronic cough is just as positive as the previously published top-line data.
The full data set even included statistically significant improvements in measures of cough.
That data took into account additional measures of efficacy, including the impartial measurement of lung function and patient-reported outcomes of both IPF and cough. These were not reported in the initial top-line data.
Research Capital Analyst Andre Uddin gives Algernon a 12-month price target of CA$25.
“The story here is that all of the secondary endpoints, including the tests for how carbon monoxide is transferred in the lungs, assessment tools used to determine shortness of breath, the overall health of the individual — all of these other indicators — are showing that everything is moving in the right direction,” Algernon CEO Christopher J. Moreau told Streetwise Reports.
Chris Temple, editor and publisher of the National Investor newsletter, has been following Algernon and writing about the latest news.
“I have followed Algernon intermittently for quite some time; very intrigued by the story and thesis but — at least in this example — wary about catching a falling knife,” Temple wrote. “But it appears that the knife has finally hit the floor recently, and news out this morning has helped Algernon take a big step toward fulfilling its mission.”
Technical Analyst Clive Maund agrees and says the outlook for Algernon is good as the company just passed the 200-day moving average of CA$5.33 per share.
“Fortunately, we bought it at a great entry point … we cannot rule out a minor reaction here before a larger move up,” Maund wrote in a September 1, 2022 post on clivemaund.com.
In late July, Algernon published the top-line data from a 12-week Stage 2a proof of concept study using Ifenprodil to treat IPF and chronic cough. IPF causes…
Read the full story published in Streetwise Reports: https://www.streetwisereports.com/article/2022/09/04/will-pharma-co-keep-pushing-higher-after-full-data-set-released-on-lung-disease-study.html