Imagine if Algernon Pharmaceuticals (CSE: AGN) receives FDA Orphan Drug Designation for the use of Ifenprodil as a treatment for IPF. When a company is granted Orphan Drug Designation by the FDA, it is one of the strongest possible catalysts for any biotech stock, especially if the company has a low market cap like AGN currently does with AGN's U.S. OTCQB symbol AGNPF currently trading at a valuation of less than US$10 million!
We have seen many biotech stocks increase by 50%-100% in a single day on record volume on news of receiving FDA Orphan Drug Designation because it grants a potential seven years of market exclusivity after approval!
IPF is a devastating disease where patients lose 2%-5% of their lung function every single month! For 65% of AGN's patients who used Ifenprodil during AGN's recently completed 12-week Phase 2 trial... their lung function either improved or remained stable! Many of AGN's Phase 2 trial participants requested for AGN to provide them with Ifenprodil for them to continue using for their personal use after the trial was completed!
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. This message is meant for informational and educational purposes only and does not provide investment advice.
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