Alzamend Neuro, Inc. reported a fiscal 2026 net loss and no product revenue as the clinical-stage company continued development of its lithium-based and vaccine programs. The company recorded revenue of $0 for FY 2026 and reported a net loss available to common shareholders of $(8.77M), with basic and diluted net loss per common share of $(2.63), compared with a $(5.11M) loss and $(11.32) per share in FY 2025.
Financial Highlights
- Revenue was $0 for FY 2026 and $0 for FY 2025 (no product revenue; clinical-stage company).
- Net income was a loss of $(8.77M) for FY 2026, compared with a loss of $(5.11M) for FY 2025 (loss widened ~72%).
- Diluted earnings per share: basic and diluted net loss per common share was $(2.63) for FY 2026 versus $(11.32) for FY 2025.
Business Highlights
- Clinical milestones: Completed Phase IIA and launched multiple Phase II imaging trials for AL001; a Phase II bipolar disorder (BD) trial is underway with topline results expected in Q4 2026.
- Therapeutic pipeline: Two lead candidates—AL001 (a lithium ionic cocrystal) and ALZN002 (a cell-based vaccine). ALZN002's Phase I/IIA is delayed pending selection of a new CRO.
- Imaging & PK advances: Company reports confirmed blood bioequivalence and faster, superior brain lithium uptake for AL001; full PK/PD data expected August 2026.
- Partnerships & technology: Collaborations with MGH/Harvard and Tesla Dynamic Coils to support whole-brain lithium imaging and inform AL001 dosing.
- Capital needs: Management noted ongoing trials and planned expansion will require additional funding; current cash is insufficient to cover the next 12 months of operations.
Original SEC Filing:
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