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An update from Algernon Pharmaceuticals ( (TSE:AGN) ) is now available.
Algernon NeuroScience, a subsidiary of Algernon Pharmaceuticals, has appointed Validcare as the contract research organization for its upcoming Phase 2a DMT stroke trial in Europe. This trial will involve 40 stroke patients and is set to begin in the third quarter of 2025. Validcare, a U.S.-based CRO, has also invested $170,000 in Algernon NeuroScience, aligning incentives for efficient trial execution. The partnership aims to explore DMT’s potential in treating strokes by observing its effectiveness in reducing damage and restoring motor function. Additionally, Algernon Pharmaceuticals has announced the cancellation of 684,000 stock options previously granted to company officials.
More about Algernon Pharmaceuticals
Algernon Pharmaceuticals Inc. is a Canadian clinical stage pharmaceutical development company that focuses on therapeutic drug development. The company operates through its subsidiary, Algernon NeuroScience, which specializes in experimental treatments involving DMT for neurological conditions such as stroke, particularly aiming at promoting neuroplasticity and brain recovery.
YTD Price Performance: 61.22%
Average Trading Volume: 14,871
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $2.28M
Learn more about AGN stock on TipRanks’ Stock Analysis page.
