Algorae Pharmaceuticals Reports Reduced Losses and Advances AI Drug Discovery

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Algorae Pharmaceuticals Reports Reduced Losses and Advances AI Drug Discovery

An update from Living Cell Technologies Ltd. ( (AU:1AI) ) is now available.

Algorae Pharmaceuticals Limited reported its half-yearly financial results for the period ending December 31, 2024, highlighting a significant reduction in net loss by 55.02% compared to the previous year. The company’s AI-driven platform, AlgoraeOS, has successfully predicted 24 new drug targets, which will undergo preclinical studies, potentially enhancing its therapeutic pipeline and industry positioning.

More about Living Cell Technologies Ltd.

Algorae Pharmaceuticals Limited is a pharmaceutical drug discovery and development company that utilizes a proprietary artificial intelligence platform to predict and develop new drug formulations. The company focuses on leveraging scientific and medical data to identify AI-generated drug targets, which are then subjected to preclinical studies. Algorae’s therapeutic pipeline includes drugs for dementia, cardiovascular disease, and Parkinson’s disease.

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: $7.49M

For an in-depth examination of 1AI stock, go to TipRanks’ Stock Analysis page.

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