Maxim analyst Michael Okunewitch initiated coverage of Alzamend Neuro with a Buy rating and $1.50 price target. The company’s lead asset, AL001, is an ionic cocrystal formulation of lithium which inhibits glycogen synthase kinase-3 beta activity has broad potential to treat a variety of central nervous system disorders, the analyst tells investors in a research note. Maxim adds that with Alzamend Neuro’s $7.4M in cash on the balance sheet combined with $14.9M in notes receivable expected by 2023-end, the company’s runway should extend to late 2024.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on ALZN:
- Ault Inc. partner Alzamend initiates Phase I/IIa trial for Alzheimer’s vaccine
- Alzamend Neuro inititates Phase I/IIA Trial for LZN002 to treat dementia
- Alzamend Neuro receives Study May Proceed letter from FDA for Alzheimer’s study
- Alzamend Neuro announces completion of clinical portion of Phase IIA MAD trial
