{"id":381566,"date":"2020-11-16T08:03:24","date_gmt":"2020-11-16T13:03:24","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=381566"},"modified":"2020-11-16T08:03:24","modified_gmt":"2020-11-16T13:03:24","slug":"algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/","title":{"rendered":"Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research"},"content":{"rendered":"<div class=\"mw_release\">\n<p>VANCOUVER, British Columbia, Nov.  16, 2020  (GLOBE NEWSWIRE) &#8212; Algernon Pharmaceuticals Inc.\u00a0(CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPF) (the \u201cCompany\u201d or \u201cAlgernon\u201d), a clinical stage pharmaceutical development company, is pleased to announce that it has recently received approximately $600,000 CDN in the form of a refundable tax credit from its clinical research work in Australia. The expenses being refunded are from the Company\u2019s Ifenprodil IPF and chronic cough Phase 2 clinical study program.\u00a0Since the Phase 2 trial is still in progress, the company plans to submit additional eligible expenses for reimbursement from the tax refund program, in due course.<\/p>\n<p align=\"justify\">\u201cAlgernon\u2019s unique business model of drug repurposing includes conducting as much clinical research as possible in Australia in order to take advantage of the Australian Government\u2019s 41% refundable tax credit program,\u201d said Christopher J. Moreau CEO of Algernon Pharmaceuticals. \u201cThis refund, while expected, is an important part of our capital efficient R&amp;D plan to drive value for our shareholders by keeping our research costs to an absolute minimum as we conduct early clinical investigations into the efficacy of our re-purposed compound targets.\u201d<\/p>\n<p align=\"justify\">\n        <strong>About Algernon Pharmaceuticals Inc.\u00a0<\/strong>\n      <\/p>\n<p align=\"justify\">Algernon is a drug re-purposing company that investigates safe, already approved drugs for new disease applications, moving them efficiently and safely into new human trials, developing new formulations and seeking new regulatory approvals in global markets. Algernon specifically investigates compounds that have never been approved in the U.S. or Europe to avoid off label prescription writing.<\/p>\n<p align=\"justify\">Algernon has filed new intellectual property rights globally for NP-120 (Ifenprodil) for the treatment of respiratory diseases and is working to develop a proprietary injectable and slow release formulation.<\/p>\n<p align=\"justify\">\n        <strong>CONTACT INFORMATION<\/strong>\n      <\/p>\n<p>Christopher J. Moreau<br \/>CEO<br \/>Algernon Pharmaceuticals Inc.<br \/>604.398.4175 ext 701<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=nZd6J-Zz1LuyJWL1PQFQpsiRl0ha-d5D8Ogpb1sROc5vkWXQ4HfdElSlQZ0PvTugZst41euIOGTr9X2B3CvuuJhx8esyxOEM8n-vYMe4dfkXztNqj7NjzLCCoqYQJrRV\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">info@algernonpharmaceuticals.com<\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_dW5KLmQ82cHQE_GFt5fWMRJCntsD7AKkKLsn9OHNbZoUZx-shyaFqmx16vvc3uOS--aTjcHi-_hZyJ0WzrtPw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/><\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=q8oQzz-XGoXJYbKa0gja4RXrzcwyDYZZVPWE8HvmYpInG-kcu3_j31qqP0D0LJd2B2on8XRnHTaCJ4YLJ3TZNO15YFe24ggQZilwHSMfb6kSIWh7Q1raZlBerXHPq76KMTNU-sjyhATox60mS2GrjA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">investors@algernonpharmaceuticals.com<\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=VFgvg7MeX0TDUoA7TI6ZpgXKUeQb4g8bLCHmSJ2tVZZH-689zQbssSagzTTBZysiRTAVz_MVoFP592Gi-cy6nw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/><\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MSali0P4pb3YiqlcUWmaZ3_LTZaAjWBOcF2Cos2td6xOC2RCdR4kd_GZPbuQWT-cEzXSy9_5Xr0g6Y3E33XpvK8L-yYeO8-xYBFUI7uTNtbEkFfR-rghlC8Hx1myi9ih\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.algernonpharmaceuticals.com<\/a><\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <em>Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>.<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>CAUTIONARY DISCLAIMER STATEMENT: No Securities Exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as \u201cwill\u201d, \u201cmay\u201d, \u201cshould\u201d, \u201canticipate\u201d, \u201cexpects\u201d and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company\u2019s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.<\/em>\n      <\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NjY2NyMzODI4MjExIzIwOTIzNjc=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/f5a42a7e-4e8a-4d65-95e8-2dc62c56f2aa\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>VANCOUVER, British Columbia, Nov. 16, 2020 (GLOBE NEWSWIRE) &#8212; Algernon Pharmaceuticals Inc.\u00a0(CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPF) (the \u201cCompany\u201d or \u201cAlgernon\u201d), a clinical stage pharmaceutical development company, is pleased to announce that it has recently received approximately $600,000 CDN in the form of a refundable tax credit from its clinical research work in Australia. The expenses being refunded are from the Company\u2019s Ifenprodil IPF and chronic cough Phase 2 clinical study program.\u00a0Since the Phase 2 trial is still in progress, the company plans to submit additional eligible expenses for reimbursement from the tax refund program, in due course. \u201cAlgernon\u2019s unique business model of drug repurposing includes conducting as much clinical research as possible in Australia in order to take advantage &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-381566","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"VANCOUVER, British Columbia, Nov. 16, 2020 (GLOBE NEWSWIRE) &#8212; Algernon Pharmaceuticals Inc.\u00a0(CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPF) (the \u201cCompany\u201d or \u201cAlgernon\u201d), a clinical stage pharmaceutical development company, is pleased to announce that it has recently received approximately $600,000 CDN in the form of a refundable tax credit from its clinical research work in Australia. The expenses being refunded are from the Company\u2019s Ifenprodil IPF and chronic cough Phase 2 clinical study program.\u00a0Since the Phase 2 trial is still in progress, the company plans to submit additional eligible expenses for reimbursement from the tax refund program, in due course. \u201cAlgernon\u2019s unique business model of drug repurposing includes conducting as much clinical research as possible in Australia in order to take advantage &hellip; Continue reading &quot;Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-16T13:03:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NjY2NyMzODI4MjExIzIwOTIzNjc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research\",\"datePublished\":\"2020-11-16T13:03:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\\\/\"},\"wordCount\":665,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4NjY2NyMzODI4MjExIzIwOTIzNjc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\\\/\",\"name\":\"Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/","og_locale":"en_US","og_type":"article","og_title":"Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research - Market Newsdesk","og_description":"VANCOUVER, British Columbia, Nov. 16, 2020 (GLOBE NEWSWIRE) &#8212; Algernon Pharmaceuticals Inc.\u00a0(CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPF) (the \u201cCompany\u201d or \u201cAlgernon\u201d), a clinical stage pharmaceutical development company, is pleased to announce that it has recently received approximately $600,000 CDN in the form of a refundable tax credit from its clinical research work in Australia. The expenses being refunded are from the Company\u2019s Ifenprodil IPF and chronic cough Phase 2 clinical study program.\u00a0Since the Phase 2 trial is still in progress, the company plans to submit additional eligible expenses for reimbursement from the tax refund program, in due course. \u201cAlgernon\u2019s unique business model of drug repurposing includes conducting as much clinical research as possible in Australia in order to take advantage &hellip; Continue reading \"Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-16T13:03:24+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NjY2NyMzODI4MjExIzIwOTIzNjc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research","datePublished":"2020-11-16T13:03:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/"},"wordCount":665,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NjY2NyMzODI4MjExIzIwOTIzNjc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/algernon-pharmaceuticals-announces-receipt-of-refundable-tax-credit-from-australian-clinical-research\/","name":"Algernon Pharmaceuticals Announces Receipt of Refundable Tax Credit from Australian Clinical Research - 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