Like all things in life, when it comes to developing pharmaceuticals, there’s an easy way and a hard way. Of course, this is a gross oversimplification regarding pharmaceutical development, but bear with me on this one.
Now, as for the hard way — this is probably our default vision of pharmaceutical development. That is, some boffins in a lab synthesize a new compound. Said compound is subjected to years of development and animal trials. Reams of paperwork are completed, and finally, multiple rounds of human clinical trials get underway. Eventually, if all goes well and the risk-reward balance for said pharmaceutical passes muster, it gets approved, and everyone’s happy.
As for the easy way, the extreme end of this is known as off-label prescribing. That is, a doctor prescribes an existing pharmaceutical as a treatment for which it was not initially approved. Anecdotal evidence might encourage other doctors to follow suit, and said off-label use might eventually enter common practice as the data surrounding its use grows.
But there is a third way that comes with many of the cost benefits of off-label prescriptions, but all of the safety benefits traditional pharmaceutical development delivers. This is the approach Algernon Pharmaceuticals Inc. (CSE: AGN | OTCQB: AGNPF | XFRA: AGW0) is taking.
Let’s take a closer look. (article continues…)