Alpha Cognition on Track for Growth Financing

Alpha Cognition, a biopharmaceutical company listed on the CSE and OTCQB markets, recently announced a temporary delay in its planned capital raise and uplisting to the NASDAQ Capital Market due to adverse market conditions. The company, which focuses on developing innovative treatments for neurodegenerative disorders, has decided to pursue alternative strategies that align more closely with the interests of its current shareholders.

The management team at Alpha Cognition reviewed the proposed terms for the capital raise necessary for the NASDAQ uplisting and concluded that these terms did not support the company's current goal of commercializing its lead product, ZUNVEYL, in a way that benefits its shareholders. Consequently, the decision was made to seek other strategies to uphold shareholder value while advancing the company's objectives.

Michael McFadden, CEO of Alpha Cognition, emphasized the importance of aligning the company’s strategic goals with the best interests of its shareholders. "Our priority remains executing our business plan, preparing for ZUNVEYL’s commercialization, and exploring other funding options," McFadden stated. He acknowledged the challenges posed by the current market conditions but reiterated the company's commitment to its strategic objectives.

Alpha Cognition has received interest from various parties willing to provide bridge funding. This funding is expected to support critical activities such as the manufacturing of commercial supplies, advancing pricing work, and preparing for the U.S. market launch of ZUNVEYL in the first quarter of 2025. The company is optimistic that this bridge funding will help maintain momentum as it explores additional funding strategies to support its commercialization efforts, particularly in the Alzheimer's disease market.

In addition to seeking bridge funding, Alpha Cognition will continue discussions with potential partners and actively pursue non-dilutive capital options to support its growth. This approach aims to advance the company's objectives without compromising shareholder value. The company remains dedicated to developing innovative treatments for patients with neurodegenerative diseases and will provide updates as it progresses toward its goals.

Alpha Cognition is at the commercial development stage and focuses on creating treatments for patients with neurodegenerative diseases like Alzheimer’s disease (AD) and Cognitive Impairment with mild Traumatic Brain Injury (mTBI), conditions for which no approved treatments currently exist.

ZUNVEYL, formerly known as ALPHA-1062, is an oral AD therapy with a dual mechanism of action designed to improve gastrointestinal tolerability issues associated with leading AD medications. It combines the efficacy and long-term benefits of galantamine with a potentially improved GI side effect profile. As a new generation acetylcholinesterase inhibitor, ZUNVEYL is believed to work through two pathways to enhance neurotransmitter activity and protect neuronal health, thereby improving cognitive and functional outcomes.

Furthermore, ZUNVEYL is being developed in combination with memantine to treat moderate-to-severe AD and as an intranasal formulation for Cognitive Impairment associated with mTBI.

Alpha Cognition remains unwavering in its mission to develop groundbreaking treatments for neurodegenerative diseases and will continue to focus on these strategic priorities to deliver value to patients and shareholders alike.