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Thursday, May 19, 2022

Alzamend Neuro, Inc. (ALZN) Stock Rockets Higher Post-Market Following Form-4 Filing.

Alzamend Neuro, Inc. (ALZN) is a biotechnology company primarily focusing on the development of a novel product portfolio for neurodegenerative and psychiatric disorders, one of the main being Alzheimer’s disease. The company’s shares dipped slightly by 2.86% to remain at $1.02 at the closing of Tuesday’s regular trading. Its price instantly jumped by 17.6% in the post-market session. The current stock price as of the writing stands at $1.20.


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ALZN: Recent Developments

ALZN reported the filing of Form 4 or statement of changes in beneficial ownership of securities on April 12. The company also updated on its entry into a deal with Altasciences Clinical Kansas and iResearch Atlanta, LLC on April 11 for the management and conduction, respectively, of the company’s Phase 2 multiple ascending dose trials in mild to moderate Alzheimer’s Disease patients. The study is anticipated to initiate patient enrollment in May 2022 and will assess the safety and tolerability profile of AL001 under multi-dose, steady conditions, and to find its highest tolerable dose in the patients. AL001 is based on a powerful lithium-delivery system and is used as an oral treatment for dementia patients. AL001 can deliver the clinical advantages of commercialized lithium carbonate but with lesser side effects risks.

ALZN: Industry Outlook

The biotechnology market was worth $497 billion in 2020, according to international market insights, and it is anticipated to progress to $952 billion through 2027, at an approximate CAGR of 9.4% in 2021-2027. An increase in chronic diseases has forced the biotech sector to develop more with every passing day. After making a giant leap in 2020, the stocks of this sector fell sharply in 2021 by 25%, and a further 20% decline was observed after January 2022.

ALZN: Company Outlook

The company appointed the specialist in Tech Transfer, Dr. Terri Hunter to its Scientific Advisory Board in a major April development. Also, the third quarter of 2022 observed an EPS of -$0.03 as the company’s actual EPS remained in line with the expectations.

Conclusion

ALZN is 7% up the last month due to some of the major April developments by the company. Its stock position became strong in Tuesday’s aftermarket as the company provided updates on filing Form 4.

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