VANCOUVER, British Columbia, July 04, 2022 (GLOBE NEWSWIRE) -- Algernon Pharmaceuticals Inc. (the “Company” or “Algernon”) (CSE: AGN) (FRANKFURT: AGW0) (OTCQB: AGNPF) is pleased to announce the closing of its previously announced marketed public offering of units of the Company (the “Units” or the “Offered Securities”) with Research Capital Corporation as the sole agent and sole bookrunner (the “Agent”). Pursuant to the offering, the Company issued 309,117 Units at a price of $3.75 per Unit for gross proceeds of $1,159,188.75 (the “Offering”).
- Pursuant to the offering, the Company issued 309,117 Units at a price of $3.75 per Unit for gross proceeds of $1,159,188.75 (the Offering).
- The net proceeds from the Offering of the Units will be used to fund research and development programs, general and administrative expenses and for working capital purposes.
- Algernon specifically investigates compounds that have never been approved in the U.S. or Europe to avoid off label prescription writing.
- Algernon has filed intellectual property rights globally for Ifenprodil for the treatment of respiratory diseases.