Alpha Cognition Inc ( (ACOG) ) has released its Q4 earnings. Here is a breakdown of the information Alpha Cognition Inc presented to its investors.
Alpha Cognition Inc. is a biopharmaceutical company focused on developing treatments for neurodegenerative diseases, including Alzheimer’s disease and Cognitive Impairment with mild Traumatic Brain Injury. The company is known for its innovative approach in the pharmaceutical sector, particularly with its patented drug ZUNVEYL.
In its latest financial report, Alpha Cognition Inc. announced significant progress and financial results for the fourth quarter and full year of 2024. The company raised $52.8 million in the last quarter to support the commercial launch of ZUNVEYL and completed the necessary commercial manufacturing. Additionally, the company has successfully completed the first phase of a pre-clinical study funded by the Department of Defense.
Key financial highlights include a substantial increase in cash and cash equivalents, reaching $48.6 million by the end of 2024, compared to $1.4 million at the end of 2023. The company also reported a net loss of $14.6 million for the year, with research and development expenses decreasing from the previous year. Strategically, Alpha Cognition has expanded its global reach by signing a distribution deal with China Medical System Holdings Limited, valued at $44 million.
The company has also strengthened its intellectual property portfolio with a new patent for its benzgalantamine tablet formulation, extending protection through 2044 in the U.S. and 2041 globally. This move is expected to enhance its competitive position in the long term.
Looking ahead, Alpha Cognition is focused on the successful commercialization of ZUNVEYL in the U.S. and Asia, with plans to leverage its strengthened financial position and strategic partnerships to drive growth and innovation in the treatment of neurodegenerative diseases.