- \n
- \n\u00a0Raised $52.8 million in gross proceeds in Q4 2024 to support the upcoming ZUNVEYL commercial launch and Nasdaq uplisting (symbol: ACOG).<\/b><\/li>\n
- Completed commercial manufacturing to support the ZUNVEYL launch.<\/b><\/li>\n
- Successfully completed the first phase of a pre-clinical bomb-blast study funded by a Department of Defense grant, demonstrating benzgalantamine\u2019s efficacy and safety in treating head trauma from simulated bomb blasts.<\/b><\/li>\n
- Cash and cash equivalents of $48.6 million as of December 31, 2024, compared to $3.7 million as of September 30, 2024 and $1.4 million as of December 31, 2023. At current cash utilization rates, the Company expects a cash runway of approximately two years.<\/b><\/li>\n<\/ul>\n
VANCOUVER, British Columbia–(BUSINESS WIRE<\/a>)–
\nAlpha Cognition Inc. (Nasdaq: ACOG) (\u201cAlpha Cognition\u201d, or the \u201cCompany\u201d) today announced its financial results for the fourth quarter and full year ended December 31, 2024.\n<\/p>\n\n\u201cWe closed 2024 on a strong note, securing capital to support the ZUNVEYL commercial launch and assembling an experienced leadership team,\u201d said Michael McFadden, Chief Executive Officer. \u201cIn early 2025, we completed the manufacturing of the initial commercial supply of ZUNVEYL. Additionally, we\u2019ve invested in commercial infrastructure, product supply, and operational capabilities to support the launch. We introduced ZUNVEYL to the U.S. market in March 2025 and are focused on commercialization excellence.\u201d\n<\/p>\n
Recent Business and Operational Highlights:<\/b><\/p>\n
Commercial Readiness:<\/b><\/p>\n
\nAlpha Cognition successfully hired its commercialization team on schedule and within budget.\n<\/p>\n
- \n
- \nThe commercial leadership team brings over 100 years of experience in long-term care and CNS and has led 140 product launches.\n<\/li>\n
- \nCollectively, our salesforce has an average tenure of 16 years industry sales experience and 10 years in long-term care.\n<\/li>\n
- \nThe Company launched its commercialization efforts in the U.S. in March 2025, making ZUNVEYL available to physicians and patients.\n<\/li>\n<\/ul>\n
Strategic Global Expansion:<\/b><\/p>\n
\nIn January 2025, Alpha Cognition signed its first ex-U.S. distribution deal for ZUNVEYL with China Medical System Holdings Limited (CMS) (867.HK), a leading pharmaceutical platform company with strong commercialization and product lifecycle management expertise in the People\u2019s Republic of China.\n<\/p>\n
- \n
- \nThe deal is valued at $44 million and includes royalties on all future sales in Asia.\n<\/li>\n
- \nThe companies have initiated work plans for product approval across Asia.\n<\/li>\n
- \nAlpha Cognition received an initial payment of $3 million in February 2025.\n<\/li>\n<\/ul>\n
Pipeline Expansion:<\/b><\/p>\n
\nIn Q1 2025, Alpha Cognition reclaimed two programs from Alpha Seven Therapeutics:\n<\/p>\n
- \n
- \nA preclinical program for Cognitive Impairment with mTBI (concussion).\n<\/li>\n
- \nAn early-stage program for Acute Pancreatitis as a core treatment.\n<\/li>\n<\/ul>\n
Strengthened Intellectual Property Portfolio:<\/b><\/p>\n
\nThe Company secured a new composition of matter patent in the U.S., covering the tablet formulation of benzgalantamine.\n<\/p>\n
- \n
- \nThis patent extends ZUNVEYL\u2019s U.S. protection through 2044 and global protection through 2041, enhancing Alpha Cognition\u2019s long-term competitive position.\n<\/li>\n<\/ul>\n
Fourth Quarter 2024 Financial Results:<\/b><\/p>\n
- \n
- \nCash and cash equivalents of $48.6 million as of December 31, 2024, compared to $3.7 million as of September 30, 2024, and $1.4 million as of December 31, 2023. At current cash utilization rates, the Company expects a cash runway of approximately two years.\n<\/li>\n
- \nResearch and development expenses for the fourth quarter of 2024 were $1.0 million compared to $1.1 million for the comparable period in 2023.\n<\/li>\n
- \nGeneral and administrative expenses for the fourth quarter of 2024 were $1.5 million compared to $1.3 million for the comparable period in 2023.\n<\/li>\n
- \nNet loss for the fourth quarter of 2024 was $5.7 million, or $(0.51) per share, compared to a net loss of $5.7 million, or $(1.33) per share, in 2023.\n<\/li>\n<\/ul>\n
Full Year 2024 Financial Results:<\/b><\/p>\n
- \n
- \nResearch and development expenses for the year ended December 31, 2024, were $3.9 million compared to $4.9 million for the comparable period in 2023.\n<\/li>\n
- \nGeneral and administrative expenses for the year ended December 31, 2024, were $7.9 million compared to $5.1 million for the comparable period in 2023.\n<\/li>\n
- \nNet loss for the year ended December 31, 2024, was $14.6 million, or $(2.02) per share, compared to a net loss of $13.8 million, or $(3.84) per share, in 2023.\n<\/li>\n<\/ul>\n
About Alpha Cognition Inc.<\/b><\/p>\n
\nAlpha Cognition Inc. is a commercial stage, biopharmaceutical company dedicated to developing treatments for patients suffering from neurodegenerative diseases, such as Alzheimer\u2019s disease and Cognitive Impairment with mild Traumatic Brain Injury (\u201cmTBI\u201d), for which there are currently no approved treatment options.\n<\/p>\n
\nZUNVEYL is a patented drug approved as a new generation acetylcholinesterase inhibitor for the treatment of Alzheimer\u2019s disease, with expected minimal gastrointestinal side effects. ZUNVEYL\u2019s active metabolite is differentiated from donepezil and rivastigmine in that it binds neuronal nicotinic receptors, most notably the alpha-7 subtype, which is known to have a positive effect on cognition. ALPHA-1062 is also being developed in combination with memantine to treat moderate to severe Alzheimer\u2019s dementia, and as an intranasal formulation for Cognitive Impairment with mTBI.\n<\/p>\n
\nForward-looking Statements\n<\/p>\n
\nThis news release includes forward-looking statements within the meaning of applicable securities laws. Except for statements of historical fact, any information contained in this news release may be a forward\u2010looking statement that reflects the Company\u2019s current views about future events and are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward\u2010looking statements by the words \u201cmay,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cobjective,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cpotential,\u201d \u201ctarget,\u201d \u201cseek,\u201d \u201ccontemplate,\u201d \u201ccontinue\u201d and \u201congoing,\u201d or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward\u2010looking statements may include statements regarding the potential benefits of the licensing agreement for the development and commercialization of ZUNVEYL in Asia (excluding Japan), Australia and New Zealand, the Company\u2019s timing and planned activities to launch ZUNVEYL in the U.S. and China, the timing for the Company\u2019s planned corporate update call, the potential timing for the availability of ZUNVEYL in the U.S. and China, the potential future developments of ZUNVEYL in China, the potential market size for ZUNVEYL in China, the Company\u2019s business strategy for the launch of ZUNVEYL in China, the market size and demand for ZUNVEYL in China, the Company\u2019s potential growth opportunities in China, the timing and results of the Company\u2019s milestone payments for China, the Company\u2019s regulatory submissions in China, and the potential regulatory approval and commercialization of the Company\u2019s products in China. Although the Company believes to have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. The Company cannot assure that the actual results will be consistent with these forward-looking statements. These forward-looking statements are subject to certain risks, including risks regarding our ability to raise sufficient capital to implement our plans to commercialize ZUNVEYL, risks regarding the efficacy and tolerability of ZUNVEYL, risks related to ongoing regulatory oversight on the safety of ZUNVEYL, risk related to market adoption of ZUNVEYL, risks related to the Company\u2019s intellectual property in relation to ZUNVEYL, risks related to the commercial manufacturing, distribution, marketing and sale of ZUNVEYL, risks related to product liability and other risks as described in the Company\u2019s filings with Canadian securities regulatory authorities and available at www.sedar.com<\/a> and the Company\u2019s filings with the United States Securities and Exchange Commission (the \u201cSEC\u201d), including those risk factors under the heading \u201cRisk Factors\u201d in the Company\u2019s Form S-1\/A registration statement as filed with the SEC on November 6, 2024 and available at www.sec.gov<\/a>. These forward\u2010looking statements speak only as of the date of this news release and the Company undertakes no obligation to revise or update any forward\u2010looking statements for any reason, even if new information becomes available in the future, except as required by law.\n<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250331308264\/en\/<\/a><\/span><\/p>\n
\nFor further information:
\n
Investor Relations
\n
IR@alphacognition.com
\n<\/a>
https:\/\/www.alphacognition.com\/<\/a><\/p>\nKEYWORDS:<\/b> North America Canada<\/p>\n
INDUSTRY KEYWORDS:<\/b> Biotechnology General Health Neurology Health Pharmaceutical<\/p>\n
- \nThis patent extends ZUNVEYL\u2019s U.S. protection through 2044 and global protection through 2041, enhancing Alpha Cognition\u2019s long-term competitive position.\n<\/li>\n<\/ul>\n
- Completed commercial manufacturing to support the ZUNVEYL launch.<\/b><\/li>\n
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