{"id":59368,"date":"2024-05-15T04:01:51","date_gmt":"2024-05-15T02:01:51","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/alpha-cognition-announces-first-quarter-of-2024-results-and-provides-corporate-update\/"},"modified":"2024-05-15T04:01:51","modified_gmt":"2024-05-15T02:01:51","slug":"alpha-cognition-announces-first-quarter-of-2024-results-and-provides-corporate-update","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/alpha-cognition-announces-first-quarter-of-2024-results-and-provides-corporate-update\/","title":{"rendered":"Alpha Cognition Announces First Quarter of 2024 Results and Provides Corporate Update"},"content":{"rendered":"<div>\n<p>VANCOUVER, British Columbia&#8211;(BUSINESS WIRE)&#8211;<b>Alpha Cognition Inc. (CSE: ACOG) (OTCQB: ACOGF) <\/b>(\u201cAlpha Cognition\u201d, or the \u201cCompany\u201d), a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating neurodegenerative disorders, today reported financial results for the first quarter of 2024 and provided a corporate update.<\/p>\n<p><a href=\"https:\/\/mms.businesswire.com\/media\/20240514741535\/en\/2131345\/5\/Alpha_Cognition_Inc._-_Logo_Left_Side%2C_Dark_Colour.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20240514741535\/en\/2131345\/22\/Alpha_Cognition_Inc._-_Logo_Left_Side%2C_Dark_Colour.jpg\"><\/a><br \/><a href=\"https:\/\/mms.businesswire.com\/media\/20240514741535\/en\/2131345\/5\/Alpha_Cognition_Inc._-_Logo_Left_Side%2C_Dark_Colour.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20240514741535\/en\/2131345\/21\/Alpha_Cognition_Inc._-_Logo_Left_Side%2C_Dark_Colour.jpg\"><\/a><\/p>\n<p>\n&#8220;Alpha Cognition continues to progress in its review process with FDA for ALPHA-1062, which is under review with FDA as a treatment for mild-to-moderate Alzheimer\u2019s disease. Our team continues to plan for commercialization activities, progress on manufacturing initiatives, and work towards the PDUFA date of ALPHA-1062 at the end of July of 2024. We believe, if approved, ALPHA-1062 will offer a differentiated therapy for patients with Alzheimer\u2019s dementia,&#8221; said Michael McFadden, the Company\u2019s Chief Executive Officer.<\/p>\n<p>\n<b>First Quarter 2024 Business Accomplishments and Corporate Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe Company completed its PPM financing of $8.45 million (all amounts in USD), which included fully subscribed 30% overallotment, with the final closing of $3.7 million in gross proceeds in January.<\/li>\n<li>\nWe continued to progress with New Drug Application (\u201cNDA\u201d) review process for ALPHA-1062 as a treatment for mild-to-moderate Alzheimer\u2019s disease (\u201cAD\u201d), where the NDA PUDUFA date for ALPHA-1062 is July 27,2024.<\/li>\n<li>\nWe continued progress in a pre-clinical study in partnership with Seattle Institute for Biomedical and Clinical Research to assess ALPHA-1062 intra nasal\u2019s reduction of behavioral and functional deficits and brain-wide burden of neuropathology following single or multiple blasts compared to placebo and sham.<\/li>\n<li>\nWe completed manufacturing stability for all doses for up to 18 months.<\/li>\n<li>\nWe also advanced our commercialization preparations for launching in the Long-Term Care (\u201cLTC\u201d) market segment. Our research has indicated that the acetylcholinesterase inhibitor prescription market in the U.S. from the LTC market is large, representing 36% of the over 11 million prescriptions filled in pharmacies each year and is characterized by both patient and practitioner dissatisfaction.<\/li>\n<\/ul>\n<p>\n<b>Financial Highlights for First Quarter ended March 31, 2024 <\/b><i>(Expressed in United States Dollars)<\/i><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nResearch and development (\u201cR&amp;D\u201d) expenses were $0.9 million for the three months ended March 31, 2024, compared to $1.1 million in the same period in 2023. R&amp;D expenses decreased from the prior year primarily due to the slight lower NDA and Commercial Manufacturing costs incurred related to the filing submitted to the Food and Drug Administration (\u201cFDA\u201d) in September 2023 for ALPHA-1062 in AD.<\/li>\n<li>\nGeneral and administrative (\u201cG&amp;A\u201d), excluding non-cash expenses relating to accretion, amortization, depreciation, and share-based compensation, were $3.2 million for the three months ended March 31, 2024, compared to from $0.7 million in the same period of 2023. G&amp;A expense increased during the three months ended March 31, 2024, primarily due to consulting fee costs, which included $2.3 million recognized for shares issued for services under the Spartan Capital consulting agreement, management fees and salaries and professional fees.<\/li>\n<li>\nOn August 31, 2023, the Company\u2019s functional currency changed to the USD from the CAD; as such, the Company recorded a derivative liability on the warrants outstanding with previously issued CAD exercises prices. This derivative liability is being revalued at each reporting period.<\/li>\n<li>\nDuring the three months ended March 31, 2024, 9,420,050 warrants were re-priced from CAD to USD denominated exercise price which resulted in $3,942,575 of the derivative liability being reclassified to equity. As of March 31, 2024, the Company revalued the derivative liability to $1,133,161 and recorded a loss on revaluation of $619,989 for the three months ended March 31, 2024.<\/li>\n<li>\nShare-based compensation was $0.3 million for the three months ended March 31, 2024, compared to $0.2 million for the same period of 2023.<\/li>\n<li>\nThe Company incurred foreign exchange losses of $15 thousand during the three months ended March 31, 2024, compared to a gain of $28 thousand in the same period of 2023.<\/li>\n<li>\nThe first quarter of 2024 comprehensive net loss was $5.0 million, or a net loss of $0.03 per share, compared to the comprehensive net loss was $1.9 million, or a net loss of $0.02 per share, for the first quarter of 2023.<\/li>\n<li>\nCash and cash equivalents at March 31, 2024 were $2.4 million, including $0.2 million in restricted cash.<\/li>\n<li>\nEffective April 1, 2024, the Company and NLS agreed to an amendment to the promissory note pursuant to which the interest rate was increased from 5.5% to 7% and the maturity date was extended from July 2024 to July 2025. Additionally, $300,000 is now due on December 31, 2024, with the remaining principal balance due at maturity.<\/li>\n<li>\nShares of common stock outstanding at March 31, 2024 were 149,925,536.<\/li>\n<\/ul>\n<p>\n<b>About Alpha Cognition Inc.<\/b><\/p>\n<p>\nAlpha Cognition Inc. is a pre-commercial, biopharmaceutical company dedicated to developing treatments for patients suffering from neurodegenerative diseases, such as Alzheimer\u2019s disease, for which there are limited or no treatment options. The Company is focused on the development of ALPHA-1062 for the treatment of mild-to-moderate Alzheimer\u2019s disease following the recent New Drug Application (the \u201cNDA\u201d) submission and acceptance by FDA.<\/p>\n<p>\nALPHA-1062, is a patented new innovative product being developed as a next generation acetylcholinesterase inhibitor for the treatment of Alzheimer\u2019s disease, with expected minimal gastrointestinal side effects. ALPHA-1062\u2019s active metabolite is differentiated from donepezil and rivastigmine in that it binds neuronal nicotinic receptors, most notably the alpha-7 subtype, which is known to have a positive effect on cognition. ALPHA-1062 is in development in combination with memantine to treat moderate to severe Alzheimer\u2019s disease, in development with sublingual formulation for patients suffering from dysphagia and is being out-licensed to study an intranasal formulation for cognitive impairment with mTBI (otherwise known as concussion).<\/p>\n<p>\n<i>Neither Canadian Securities Exchange (the \u201cCSE\u201d) or the OTC Markets Group, accepts responsibility for the adequacy or accuracy of this release.<\/i><\/p>\n<p>\n<b>Forward-looking Statements<\/b><\/p>\n<p>\nThis news release includes forward-looking statements within the meaning of applicable securities laws. Except for statements of historical fact, any information contained in this news release may be a forward\u2010looking statement that reflects the Company\u2019s current views about future events and are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward\u2010looking statements by the words \u201cmay,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cobjective,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cpotential,\u201d \u201ctarget,\u201d \u201cseek,\u201d \u201ccontemplate,\u201d \u201ccontinue\u201d and \u201congoing,\u201d or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward\u2010looking statements may include statements regarding the TBI out-licensing plan and associated financing, the availability of funding pursuant to financings, the Company\u2019s business strategy, market size, potential growth opportunities, capital requirements, clinical development activities, the timing and results of clinical trials, regulatory submissions, potential regulatory approval and commercialization of the Company\u2019s products. Although the Company believes to have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. The Company cannot assure that the actual results will be consistent with these forward-looking statements. These forward\u2010looking statements speak only as of the date of this news release and the Company undertakes no obligation to revise or update any forward\u2010looking statements for any reason, even if new information becomes available in the future.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>Condensed Consolidated Statements of Operations<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwsinglebottom\" colspan=\"7\" rowspan=\"1\"><i>(expressed in United States Dollars)<\/i><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwrowaltcolor1 bwwidth76\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwsinglebottom bwpadl0 bwrowaltcolor1\" colspan=\"6\" rowspan=\"1\"><b>Three months ended March 31,<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignr bwvertalignm bwsinglebottom bwpadl0 bwrowaltcolor1 bwwidth76\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignr bwrowaltcolor1 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwrowaltcolor1 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignr bwrowaltcolor1 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignr bwrowaltcolor1 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwrowaltcolor1 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2023<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignr bwrowaltcolor1 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Operating expenses<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(4,415,686<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(2,003,940<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwsinglebottom bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Other income (expenses)<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(582,935<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n142,468<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Net loss for the year<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(4,998,621<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(1,861,472<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwsinglebottom bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Currency translation adjustment<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(36,239<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwsinglebottom bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Comprehensive loss<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(4,998,621<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(1,897,711<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Basic and diluted loss per common share<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(0.03<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(0.02<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwsinglebottom bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Weighted average shares<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n143,615,972<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n77,849,023<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignr bwvertalignm bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0\" colspan=\"7\" rowspan=\"1\"><b>Selected Consolidated Balance Sheet Data<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignm bwpadl0 bwsinglebottom\" colspan=\"7\" rowspan=\"1\"><i>(expressed in United States Dollars)<\/i><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignr bwvertalignm bwpadl0 bwrowaltcolor1 bwwidth76\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwalignc bwvertalignm bwsinglebottom bwpadl0 bwrowaltcolor1\" colspan=\"3\" rowspan=\"1\"><b>March 31,<\/b><\/td>\n<td class=\"bwalignc bwvertalignm bwsinglebottom bwpadl0 bwrowaltcolor1\" colspan=\"3\" rowspan=\"1\"><b>December 31,<\/b><\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignr bwvertalignm bwsinglebottom bwpadl0 bwrowaltcolor1 bwwidth76\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignr bwrowaltcolor1 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwrowaltcolor1 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2024<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignr bwrowaltcolor1 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignr bwrowaltcolor1 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwrowaltcolor1 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2023<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignr bwrowaltcolor1 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Cash and cash equivalents<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n2,423,062<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n1,494,573<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Working capital (deficiency)<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n690,955<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(706,463<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Adjusted working capital (deficiency) <sup>(1)<\/sup><\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n583,911<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(786,463<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Total assets<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n3,476,551<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n2,452,170<\/p>\n<\/td>\n<td class=\"bwalignr bwpadl0 bwpadr0 bwvertalignb bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignm bwsinglebottom bwpadl0 bwwidth76\" colspan=\"1\" rowspan=\"1\">Total long-term liabilities<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n1,133,161<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n4,539,872<\/p>\n<\/td>\n<td class=\"bwalignr bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n(1) net of effects of restricted cash items<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n\u00a0<\/p>\n<p> <b>Contacts<\/b> <\/p>\n<p>\nFor further information:<br \/>\n<br \/>Michael McFadden, CEO<br \/>\n<br \/>Tel: 1-858-344-4375<br \/>\n<br \/><a target=\"_blank\" href=\"ma&#105;&#108;&#116;&#111;&#x3a;&#x69;&#x6e;&#x66;&#x6f;&#64;a&#108;&#112;&#104;&#97;&#x63;&#x6f;&#x67;&#x6e;&#x69;ti&#111;&#110;&#46;&#99;&#x6f;&#x6d;\" rel=\"nofollow noopener\" shape=\"rect\">&#105;n&#x66;o&#x40;a&#x6c;p&#x68;&#97;&#x63;&#111;&#x67;&#110;&#x69;&#116;i&#111;n&#x2e;c&#x6f;m<\/a><br \/><a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.alphacognition.com%2F&amp;esheet=53993218&amp;newsitemid=20240514741535&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.alphacognition.com%2F&amp;index=1&amp;md5=0236c86217731b2caec2cd86f211e07d\" rel=\"nofollow noopener\" shape=\"rect\">https:\/\/www.alphacognition.com\/<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>VANCOUVER, British Columbia&#8211;(BUSINESS WIRE)&#8211;Alpha Cognition Inc. (CSE: ACOG) (OTCQB: ACOGF) (\u201cAlpha Cognition\u201d, or the \u201cCompany\u201d), a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating neurodegenerative disorders, today reported financial results for the first quarter of 2024 and provided a corporate update. &#8220;Alpha Cognition continues to &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/pharma-trend.com\/en\/alpha-cognition-announces-first-quarter-of-2024-results-and-provides-corporate-update\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-59368","6":"format-standard","7":"category-industry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Alpha Cognition Announces First Quarter of 2024 Results and Provides Corporate Update - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/alpha-cognition-announces-first-quarter-of-2024-results-and-provides-corporate-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alpha Cognition Announces First Quarter of 2024 Results and Provides Corporate Update - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"VANCOUVER, British Columbia&#8211;(BUSINESS WIRE)&#8211;Alpha Cognition Inc. (CSE: ACOG) (OTCQB: ACOGF) (\u201cAlpha Cognition\u201d, or the \u201cCompany\u201d), a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating neurodegenerative disorders, today reported financial results for the first quarter of 2024 and provided a corporate update. &#8220;Alpha Cognition continues to ... 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(CSE: ACOG) (OTCQB: ACOGF) (\u201cAlpha Cognition\u201d, or the \u201cCompany\u201d), a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating neurodegenerative disorders, today reported financial results for the first quarter of 2024 and provided a corporate update. &#8220;Alpha Cognition continues to ... 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