Algernon Pharmaceuticals Inc. (OTCMKTS:AGNPF) Sees Large Increase in Short Interest

Algernon Pharmaceuticals Inc. (OTCMKTS:AGNPF – Get Free Report) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 20,626 shares, an increase of 232.5% from the August 15th total of 6,203 shares. Based on an average daily trading volume, of 17,353 shares, the days-to-cover ratio is currently 1.2 days.

Algernon Pharmaceuticals Stock Performance

Shares of OTCMKTS:AGNPF opened at $0.37 on Friday. Algernon Pharmaceuticals has a 52-week low of $0.22 and a 52-week high of $0.64. The business’s 50 day simple moving average is $0.32 and its two-hundred day simple moving average is $0.23.

About Algernon Pharmaceuticals

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Algernon Pharmaceuticals Inc is a clinical-stage biotechnology company focused on the development and commercialization of novel, small-molecule therapeutics. The company’s primary strategy centers on repurposing known compounds with established safety profiles to address unmet medical needs, particularly in the realms of pulmonary fibrosis, acute lung injury and central nervous system (CNS) disorders. By leveraging existing pharmacology data, Algernon aims to accelerate its development timelines while managing costs and risks typically associated with early-stage drug discovery.

The lead asset in Algernon’s pipeline is NP-120 (ifenprodil), an orally available small molecule being investigated for idiopathic pulmonary fibrosis (IPF).

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