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

News Update


Biopharma Chooses Firm to Co-Conduct Psychedelic Dose Trial
News Update

Share on Stocktwits


Algernon Pharmaceuticals aims to begin the study as soon as it receives the drug from the manufacturer.

In a news release, Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE) announced it "awarded the contract for its Phase 1 stroke program study of AP-188 (“N,N-Dimethyltryptamine or DMT”), to the renowned contract research organization ("CRO"), Hammersmith Medicines Research Ltd (“HMR”) located in London, UK."

Algernon noted that HMR is a contract research organization with extensive trial experience and experience administering psychedelic agents. Along with a pharmacy and onsite laboratory, it has close ties to Central Middlesex Hospital.

"We are very pleased to have chosen HMR for our Phase 1 DMT study," Algernon CEO Christopher J. Moreau said in the release. "There are very few research institutions globally who are fully approved and have the proper license, permits and experience to handle DMT."

Algernon's Phase 1 study will evaluate the safety, tolerability and pharmacokinetics of subpsychedelic DMT dosages in healthy participants who lack prior psychedelic exposure. The trial will commence once the company receives the drug from its manufacturer, Dalton Pharma.

"Our goal with our current aggressive clinical plan is to be in a Phase 2 study in Q1/22," Moreau added. "We are committed as a company to investigating DMT to learn if it can help stroke patients as quickly, and as safely, as possible."


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.
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.

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