Algernon Pharmaceuticals (CSE: AGN) reminds NIA very much of Revive Therapeutics (CSE: RVV) which we suggested on October 21, 2020, at $0.245 per share prior to it rising to a December 14, 2020 high of $0.92 per share for a gain of 275.51% in less than two months!
Both companies are advancing valuable intellectual property related to psychedelics, while also conducting clinical trials of drugs that have been approved in Japan and South Korea, but not in the U.S. or Europe.
Similar to how RVV has reformulated Bucillamine as a potential COVID-19 treatment in the U.S. and Europe after it was used for over 30 years to treat rheumatoid arthritis in Japan and South Korea, AGN has reformulated Ifenprodil as a potential chronic cough treatment in the U.S. and Europe after it was used for over 30 years to treat vertigo in Japan and South Korea.
By reformulating drugs with long-term safety profiles in Japan and South Korea it is possible for AGN and RVV to advance these drugs for entirely new purposes in the U.S. and Europe in a way that is very fast and cost-effective!
RVV today continues to trade for $0.345 per share up 40.82% from NIA's suggestion price and has a market cap of $110.634 million.
AGN is likely to quickly catch up to RVV's market cap in the upcoming weeks!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from AGN of US$100,000 cash for a twelve-month marketing contract. NIA was previously compensated by RVV USD$30,000 cash for a six-month marketing contract which has since expired. This message is meant for informational and educational purposes only and does not provide investment advice.