Algernon Pharmaceuticals Inc (CSE:AGN) (FR:AGW) (OTCQB:AGNPF) said it expects to report the topline results for the Phase 2b part of its Phase 2b/3 coronavirus (COVID-19) trial of its Ifenprodil treatment in the final week of March.
The pharmaceutical development company said that during the data review period, neither the company nor any party other than the independent statisticians will have access to the data and that once the data has been analyzed, it will receive the trial results and after a brief internal review, will release the data to the public.
READ: Algernon Pharmaceuticals increases and completes previously announced non-brokered private placement, raising gross proceeds of C$2,815,010
Algernon also said that it is not making any express or implied claims that Ifenprodil has the ability to eliminate, cure or contain COVID-19 or the SARS-2 coronavirus at this time.
“While there has been an impressive advancement in the area of vaccine development and deployment, there still remains an urgent need to identify a therapeutic for the treatment of the most seriously affected COVID-19 patients. We sincerely hope that the trial results will show that Ifenprodil is reducing both the severity and duration of a COVID-19 infection,” Algernon chief executive Christopher J Moreau said in a statement.
The company believes Ifenprodil can reduce the infiltration of neutrophils and T-cells into the lungs of patients where they can release glutamate and cytokines respectively, the latter of which can result in a cytokine storm that contributes to the loss of lung function and ultimately death as has been reported in COVID-19 infected patients.
Contact the author at calum@proactiveinvestors.com
Follow him on Twitter @Cal_Proac