(Note: This is NOT an IPO. This is an uplisting to the NASDAQ from the OTCQB, where the stock trades under the symbol “AGNPF”. This is an underwritten public offering of units, with each unit consisting of one share of Class A common stock and one warrant to buy one share of stock. Algernon has applied to the NASDAQ to list its stock under the proposed symbol “AGNP” and its warrants under the proposed symbol “AGNPW”.  Algernon’s shares are also listed to trade on the Canadian Securities Exchange under the symbol “AGN” and the Frankfurt Stock Exchange under the symbol “AGW0”.)

(Note: In an F-1/A filing dated June 2, 2022, Algernon Pharmaceuticals increased the size of its public offering to 2.13 million units, up from 1.93 million units previously. The assumed offering price per unit is US$4.125. Algernon Pharmaceuticals filed its F-1 (prospectus) on Feb. 22, 2022; it filed confidentially to go public on Oct. 20, 2021.)

Algernon Pharmaceuticals Inc. is a clinical-stage drug repurposing company that investigates already approved drugs, and naturally occurring compounds, for new disease applications, moving them efficiently and safely into new human trials, developing new formulations and seeking new regulatory approvals. The Company specifically investigates compounds that have never been approved in the U.S. or Europe to avoid off label prescription writing. Off label prescription writing can interfere with the normal economic pricing models and revenue potential of newly approved drug treatments and may make them less attractive targets for licensing or acquisition.

Algernon’s drug discovery program is based on the concept of drug repurposing. Drug repurposing is the process of discovering new therapeutic uses for existing drugs. Repurposing offers several benefits over traditional drug development including a reduction in investment and risk, shorter research periods and as a result, a longer active patent life.

The company is conducting a Phase 2 clinical trial in Australia for Ifenprodil for idiopathic pulmonary fibrosis (IPF) and chronic cough.

The company is in the planning stages of a Phase 1 clinical trial of DMT for stroke. DMT is a Schedule I drug and a known psychedelic compound that is part of the tryptamine family.

The company is also in the planning stages of a Phase 1 clinical trial for Ifenprodil for pancreatic cancer and small cell lung cancer. 

It is engaged in preclinical studies of Repirinast for chronic kidney disease. Repirinast, also known as NP-251, was developed in Japan and approved in 1987. Repirinast is no longer available in Japan, where it was initially approved as an anti-allergy medication. It was withdrawn from the market in 2013 for sales reasons.

**Note: Algernon Pharmaceuticals had a net loss of $3.04 million for the six months ended Feb. 28, 2022, compared with a net loss of $5.82 million for the six months ended Feb. 28, 2021.

**Note: For the year ended Aug. 31, 2021, Algernon Pharmaceuticals reported no revenue and a net loss of $7.73 million.