Alpha Cognition (ACOG) Registration Filing summary

Company overview and business model

• Focuses on developing treatments for neurodegenerative diseases, primarily Alzheimer's disease, with a newly FDA-approved drug, ZUNVEYL, for mild to moderate dementia in adults.

• Commercial strategy centers on long-term care facilities, targeting nursing homes and leveraging an account-based sales team.

• Pipeline includes preclinical programs for additional Alzheimer's indications, traumatic brain injury (TBI), and orphan drug-designated ALS therapy.

• Plans to out-license certain assets, such as ALPHA-1062IN for TBI, to related entities for further development.

Financial performance and metrics

• Reported net losses of $7.1M for the six months ended June 30, 2024, and $13.8M for the year ended December 31, 2023.

• Accumulated deficit of $68.8M as of June 30, 2024; cash and cash equivalents of $1.0M at that date.

• Operating expenses for the first half of 2024 were $6.8M, with R&D expenses decreasing year-over-year due to completion of NDA-related activities.

• No product revenue to date; operations funded by equity and debt financings.

Use of proceeds and capital allocation

• Net proceeds of approximately $22.9M (up to $26.4M with full over-allotment) expected from the offering, based on a $10.00 per share price.

• Proceeds will fund commercialization and launch of ZUNVEYL, further R&D for pipeline candidates, CMC activities, working capital, and general corporate purposes.

• Additional capital raises, both dilutive and non-dilutive, are contemplated to fully execute commercial and operating plans.