Alzamend Neuro, Inc. (ALZN) is an early-stage biotherapeutics business engaged in the development of an innovative product line for treating different neurodegenerative and psychiatric disorders, including Alzheimer’s disease. The company’s current product pipeline includes AL001 and AL002. Both the product candidates are clinically evaluated for Alzheimer’s disease.
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ALZN stock price on the regular trading session of March 21, 2022, dropped slightly by 1.77% to be $1.11. Its price climbed higher as of the writing in the premarket session of March 22, 2022, by 23.4%.
ALZN: Events and Happenings
On March 21, 2022, ALZN updated on filing Form 4 or a statement of changes in beneficial ownership of securities with the Securities and Exchange Commission.
ALZN: Key Financials
ALZN released its Q3 2022 financial results on March 15, 2022, for the three months ended January 31, 2022. Some important features are discussed below.
The company reported no revenue in the comparable third quarters of 2022 and 2021.
Net loss per share (basic and diluted) for Q3 2022 was $2.57 million or $0.03 compared to $1.11 million or $0.02 in the same quarter in 2021. The company’s EPS declined year-over-year. The actual EPS remained in line with the analysts’ expectations.
On December 17, 2021, ALZN reported the receipt of optimistic topline rests from its Phase 1 trials of AL001. The aim of the trial was the determination of its safety and tolerability in Alzheimer’s patients. It is a lithium-delivery platform.
On September 30, 2021, ALZN informed the press regarding the receipt of the response by the FDA for its meeting request concerning the application of Type B Pre‑Investigational New Drug. FDA provided a pathway for the company’s intended AL002clinical development.
ALZN stock is in hot waters as its performance was extremely down in the past six-year, more specifically by 90%. Currently, its stock is trying to make a comeback in Tuesday’s premarket trading as the company announced filing Form 4 with the SEC.