- Algernon Pharmaceuticals’ (AGN) largest shareholder, AlphaNorth asset management, increases its ownership position
- AlphaNorth now beneficially owns or has control or direction over, directly or indirectly, 307,610 common shares of the company
- Founded in 2007, AlphaNorth believes that superior long-term equity returns are achievable by exploiting inefficiencies in the Canadian small-cap universe
- AlphaNorth manages the AlphaNorth Partners Fund, which is a long-biased small-cap focused hedge fund
- Algernon is a drug repurposing company that investigates safe, approved drugs
- Algernon Pharmaceuticals (AGN) is up at 8.75 per cent, trading at C$4.35 at 11:05 am EST
Algernon Pharmaceuticals’ (AGN) largest shareholder AlphaNorth has acquired 150,000 shares in a recent private placement financing.
As a result, AlphaNorth now owns 307,610 common shares of the company, increasing its equity interest in Algernon to over 13 per cent.
“We believe the weakness in the recent share price has provided a great opportunity to increase our position in Algernon,” said Steve Palmer, CEO of AlphaNorth.
Christopher J. Moreau, CEO of Algernon added,
“We are very pleased with this major show of support by AlphaNorth and their ongoing faith in Algernon’s unique drug repurposing model and development pipeline.”
“We continue to be very focused on advancing our drug compounds through clinical stage testing, and we look forward to continuing to update the market as we progress,” added Moreau.
Founded in 2007, AlphaNorth is a beliver in superior long-term equity returns through exploiting inefficiencies in the Canadian small-cap universe through careful security selection on both a long and short basis.
AlphaNorth manages the AlphaNorth Partners Fund, a long-biased small-cap focused hedge fund.
The AlphaNorth Partners Fund won 1 place for ‘Best Year Annualized Return’ at the 2021 Canadian Hedge Fund Awards.
Algernon is a drug re-purrepurposingny that investigates safe, approved drugs, including naturally occurring compounds, for new disease applications, moving them efficiently and safely into new human trials.
Algernon Pharmaceuticals (AGN) is up at 8.75 per cent, trading at C$4.35 at 11:05 am EST.