Algernon Pharmaceuticals Inc. (OTCMKTS:AGNPF) Short Interest Up 172.9% in May

Algernon Pharmaceuticals Inc. (OTCMKTS:AGNPF) saw a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 6,998 shares, an increase of 172.9% from the May 14th total of 2,564 shares. Based on an average trading volume of 6,228 shares, the days-to-cover ratio is presently 1.1 days.

Algernon Pharmaceuticals Price Performance

OTCMKTS AGNPF opened at $0.43 on Friday. Algernon Pharmaceuticals has a 12 month low of $0.23 and a 12 month high of $0.71. The company has a 50-day moving average of $0.23 and a 200-day moving average of $0.11.

Algernon Pharmaceuticals Company Profile

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).