Alpha Cognition (NASDAQ: ACOG) (CSE: ACOG), a biopharmaceutical company committed to developing novel therapies for debilitating neurodegenerative disorders, recently announced the pricing of its upsized public offering of 8,695,653 common shares, each at a public offering price of $5.75, for gross proceeds of approximately $50 million. In addition, the company granted the underwriters a 30-day option to purchase up to an additional 1,184,592 common shares to cover over-allotments at the public offering price, less the underwriting discount. Titan Partners Group, a division of American Capital Partners, is acting as sole bookrunner for the offering.
“This offering serves as a tremendous milestone for Alpha Cognition, as we begin the commercialization of our FDA-approved drug, ZUNVEYL, for the treatment of mild-to-moderate Alzheimer’s disease,” said Michael McFadden, chief executive officer and director of the company. “This financing puts our balance sheet in a position of meaningful strength and provides the necessary foundation for a successful commercial launch, with ample runway to scale over the next few years. We are thrilled to welcome a number of new, high-quality investors to our Nasdaq listing, who also see the benefits of ZUNVEYL and the exciting opportunity for our platform.”
To view the full press release, visit https://ibn.fm/Ln1Fz
About Alpha Cognition Inc.
Alpha Cognition is a commercial stage, biopharmaceutical company dedicated to developing treatments for patients suffering from neurodegenerative diseases, such as Alzheimer’s disease and cognitive impairment with mild traumatic brain injury (“mTBI”), for which there are currently no approved treatment options. ZUNVEYL is a patented drug approved as a new generation acetylcholinesterase inhibitor (“AChEI”) for the treatment of Alzheimer’s disease, with expected minimal gastrointestinal side effects. ZUNVEYL’s active metabolite is differentiated from donepezil and rivastigmine in that it improves the function of neuronal nicotinic receptors, most notably the alpha-7 subtype, which is known to have a positive effect on cognition. Benzgalantamine is also being developed in combination with memantine to treat moderate to severe Alzheimer’s dementia, and as an intranasal formulation for cognitive impairment with mTBI.
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