Source: Algernon Pharmaceuticals.
  • Algernon Pharmaceuticals (AGN) has recently received a $2M cash payment from a refundable tax credit program for its clinical research work in Australia
  • Algernon has submitted an application to have its common shares listed on the Nasdaq Capital Market
  • The listing would provide access to new investors who specialize in pharmaceutical development
  • Algernon is a drug re-purposing company that investigates safe, already approved drugs, and naturally occurring compounds, for new disease applications
  • Algernon Pharmaceuticals Inc. (AGN) is up 6.7 per cent, trading at C$0.08 per share at 10:45 am ET

Algernon Pharmaceuticals (AGN) has recently received a $2M cash payment from a refundable tax credit program for its clinical research work in Australia.

This payment increases Algernon’s current working capital balance to approximately $3.5M.

Algernon also wishes to announce that it has submitted an application to have its common shares listed on the Nasdaq Capital Market. The listing remains subject to Nasdaq approval and the satisfaction of all regulatory requirements. 

Christopher J. Moreau, CEO of Algernon Pharmaceuticals commented on the application.

“Algernon has a unique drug development business model and multiple research programs that are currently in both pre-clinical and human trials. Moving the company to a U.S. national stock exchange should help improve our valuation and is expected to provide access to new investors who specialize in and understand pharmaceutical development.”

Algernon is a drug re-purposing company that investigates safe, already approved drugs, and naturally occurring compounds, for new disease applications.

Algernon Pharmaceuticals Inc. (AGN) is up 6.7 per cent, trading at C$0.08 per share at 10:45 am ET.

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