Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


Biopharma Seeks Ethics Approval in Australia to Test COVID-19 Treatment
News Update

Share on Stocktwits


Algernon Pharmaceuticals intends to test a repurposed drug for this indication, in a trial in three countries.

In a news release, Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE) announced it submitted an ethics approval application for a planned multinational Phase 2b/3 study in Australia of its drug NP-120 (Ifenprodil) being repurposed as a potential treatment for COVID-19.

The biopharmaceutical firm made the request of the Princess Alexandra Hospital in Brisbane, Queensland, Australia. Algernon intends to carry out the study in Canada and the U.S. as well, and it already received the go ahead from Canadian authorities. As for the U.S., the company reported it is preparing an investigational new drug application for approval from the U.S. Food and Drug Administration.

Once Algernon has a green light from all three countries, the trial will start as a Phase 2b with 100 patients. Randomized on a 1:1 basis, patients will receive either the standard of care or the standard of care plus 20 mg of Ifenprodil three times a day for two weeks. The trial endpoints will be improvement in mortality, blood oxygen levels, duration in intensive care and time to mechanical ventilation.

If the preliminary Phase 2 results are positive, the study will advance to Phase 3, at which time the number of participants needed will be determined.

The company believes that "NP-120 can reduce the infiltration of neutrophils and T-cells into the lungs where they can release glutamate and cytokines respectively. The latter can result in the highly problematic cytokine storm that contributes to the loss of lung function and ultimately death as has been reported in COVID-19 infected patients."


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Algernon Pharmaceuticals. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Algernon Pharmaceuticals. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Algernon Pharmaceuticals, a company mentioned in this article.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports Life Sciences Report Newsletter Free and be the first to know!

A valid email address is required to subscribe