Alzamend Neuro (ALZN) Q4 2026 earnings summary

Executive summary

• Clinical-stage biopharma focused on novel treatments for Alzheimer's, bipolar disorder, major depressive disorder, and PTSD, with two lead candidates: AL001 (lithium cocrystal) and ALZN002 (cell-based immunotherapy).

• No product revenue generated; operations funded by equity and preferred stock offerings.

• Significant clinical progress: AL001 completed Phase IIA, initiated multiple Phase II trials; ALZN002 Phase I/II trial delayed due to CRO termination, restart expected in 2027.

Financial highlights

• Net loss for FY 2026: $8.8 million, up from $4.5 million in FY 2025.

• Research and development expenses: $3.6 million (up 157% YoY); general and administrative expenses: $5.1 million (up 67% YoY).

• Cash as of April 30, 2026: $711,000; accumulated deficit: $67.3 million.

• No revenue generated; continued operating losses expected for several years.

Outlook and guidance

• Additional capital required to fund operations and clinical trials; current cash insufficient for next 12 months.

• Plans to raise funds through equity and debt; going concern risk highlighted by auditors.

• AL001 Phase II trials in BD ongoing, MDD and PTSD trials to start late 2026, Alzheimer's trial in early 2027; ALZN002 trial restart expected in 2027.