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Alpha Cognition Inc (ACOGF). has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net operating loss of $2,487,784, compared to $2,765,913 in the same quarter the previous year.
Research and development expenses decreased to $996,029 from $1,429,716 due to lower product development costs and consulting fees.
General and administrative expenses increased to $1,491,755 from $1,336,197, primarily due to higher consulting fees and financing fees.
The company reported a net loss of $1,859,906 for the quarter, compared to $3,269,123 in the previous year.
Cash used in operating activities was $5,451,927, while cash provided by financing activities was $7,730,753.
Alpha Cognition completed a public offering of common shares on November 13, 2024, raising approximately $50 million.
The company received FDA approval for ZUNVEYL, a treatment for mild-to-moderate Alzheimer's disease, and plans to launch in Q1 2025.
The filing details the company's liquidity risk and its dependence on additional funding to continue operations.
Alpha Cognition is focused on commercializing ZUNVEYL and exploring additional product candidates for neurodegenerative diseases.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ACOGF quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.