Alpha Cognition Announces FDA Milestone and Strategic Developments for ALPHA-1062 in Alzheimer's Disease Therapy

Alpha Cognition Inc. has released its financial results for the fourth quarter and full year of 2023, alongside significant corporate updates. CEO Michael McFadden highlighted the FDA's acceptance of their New Drug Application (NDA) for ALPHA-1062, a milestone anticipated to culminate in approval by July of this year, signifying a critical advancement in their pursuit of novel therapies for Alzheimer's disease. Furthermore, the company announced the submission of a new composition-of-matter patent, aimed at securing expansive protection for ALPHA-1062 until 2044, reflecting their commitment to safeguarding innovative assets.

Alpha Cognition also successfully concluded a private placement financing round, raising gross proceeds of US$8.45 million, providing vital support for ongoing research and commercialization efforts. Looking forward, the company plans to strategically launch ALPHA-1062 in the Long Term Care (LTC) market segment upon FDA approval, with subsequent expansion into the Neurology segment. Additionally, the development of a sublingual formulation of ALPHA-1062 addresses unmet patient needs, reflecting Alpha Cognition's commitment to advancing innovative therapies in neurodegenerative disorders, particularly Alzheimer's disease.