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

News Update


Pharmaceutical Firm Completes Enrollment of 100 Patients in Phase 2b/3 COVID-19 Clinical Trial
News Update

Share on Stocktwits


Algernon Pharmaceuticals reported it has now enrolled 100 of 150 planned patients in its Phase 2b/3 human study of Ifenprodil for treatment of COVID-19.

Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE), in a news release announced that it has "now enrolled 100 patients, which is two thirds of its enrollment target, for its multinational Phase 2b/3 human study of NP-120 (Ifenprodil) for the treatment of COVID-19."

The firm advised that it expects that the study will be completed in November 2020 and it anticipates that a planned data readout will be available prior to the end of Q4/20.

The official name of the company's multinational Phase 2b/3 clinical trial is called "A Randomized Open Label Phase 2b/3 Study of the Safety and Efficacy of NP-120 (Ifenprodil) for the Treatment of Hospitalized Patients with Confirmed COVID-19 Disease."

Algernon pointed out that the Phase 2b trial calls for the enrollment of 150 patients in total and is already underway. The company commented that if positive preliminary data is recorded in the Phase 2b clinical trial, the study will move directly into a Phase 3 trial. The firm added that the data from the Phase 2b study will determine the precise number of patients required for the Phase 3 trial to reach statistical significance.

The company advised that patients enrolled in the ongoing Phase 2b study are being randomized and treated using an existing standard of care or standard of care plus Ifenprodil in either 60 mg or 120 mg doses three-times daily for two weeks. During the length of the trial, doctors will be observing to see if there are improvements demonstrated across several secondary endpoints. These predefined metrics include blood oxygen levels, time spent in intensive care, time to mechanical ventilation and mortality.

Algernon noted that "NP-120 (Ifenprodil) is a N-methyl-D-aspartate (NMDA) receptor antagonist specifically targeting the NMDA-type subunit 2B (Glu2NB) that prevents glutamate signaling." The company stated that NMDA receptors are found on tissues such as lung cells, T-cells and neutrophils. The company believes "Ifenprodil can reduce the infiltration of neutrophils and T-cells into the lungs where they can release glutamate and cytokines respectively." The company stated that the release of cytokines often contributes to the highly problematic cytokine storm that can cause loss of lung function and ultimately death in COVID-19 infected patients.

The company reported that it has filed global intellectual property rights for use of NP-120 (Ifenprodil) in the treatment in respiratory diseases and is currently working on an injectable and slow release formulation.


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his 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.
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 decision to publish an article until three business days after the publication of the 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