AI Analysis | Feedback

Here are 1-3 brief analogies for Alzamend Neuro (ALZN):

• An early-stage **Biogen** focused on developing treatments specifically for **Alzheimer's disease**.
• Like a very early-stage **Eli Lilly**, but exclusively dedicated to developing new therapies for **Alzheimer's**.
• A small, speculative biotech company aspiring to be the next **Moderna**, but focused on finding breakthrough therapies for **Alzheimer's disease**.

AI Analysis | Feedback

• ALZN-101 (Lithium-based therapeutic): A patented prodrug of lithium designed for the treatment of neurodegenerative diseases such as Alzheimer's.
• ALZN-301 (Combination oral therapeutic): An oral therapeutic combining five FDA-approved active pharmaceutical ingredients for the treatment of major depressive disorder (MDD) and post-traumatic stress disorder (PTSD).

AI Analysis | Feedback

Alzamend Neuro (ALZN) is a clinical-stage biopharmaceutical company focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders. As a clinical-stage company, Alzamend Neuro has not yet commercialized any products and therefore does not have major customers in the traditional sense of selling goods or services to other companies or individuals.

The company's primary activities are research and development, including conducting clinical trials for its product candidates (e.g., AL001 for Alzheimer's disease). Revenue, if any, has historically been derived from sources such as grants and sponsored research agreements, rather than from commercial product sales.

AI Analysis | Feedback

• Lonza Group Ltd (SIX: LONN)
• Catalent, Inc. (NYSE: CTLT)

AI Analysis | Feedback

Stephan Jackman, Chief Executive Officer

Mr. Jackman was appointed CEO in November 2018 and became a director in September 2020. He has extensive experience in the development of therapeutic treatments from research to market. Prior to joining Alzamend Neuro, Mr. Jackman served as Chief Operating Officer of Exit 9 Technologies and Chief Operating Officer of Ennaid Therapeutics, an emerging biopharmaceutical company. He also worked as an independent project and management consultant, assisting startups, Fortune 500 companies, and non-profits with strategic initiatives. His background includes administration, business and product development, marketing, project and program management, and strategic planning.

David J. Katzoff, Chief Financial Officer

Mr. Katzoff was appointed Chief Financial Officer in August 2022. He has served as Chief Financial Officer of Imperalis Holding Corp. since December 2021 and as Vice President of Finance of Ault Disruptive Technologies Corporation since February 2021. From 2015 to 2018, he was the Chief Financial Officer of Lumina Media, LLC, a privately-held media company. From 2003 to 2017, Mr. Katzoff was Vice President of Finance of Local Corporation, a publicly held local search company, and from January 2019, he has served as Senior Vice President of Finance of BitNile Holdings, Inc. Mr. Katzoff's roles prior to becoming CFO at Alzamend Neuro included Senior Vice President of Operations and Chief Operating Officer.

Milton C. Ault III, Founder & Vice Chairman Emeritus

Mr. Ault founded Alzamend Neuro and served as its Chairman of the Board since inception, and as Executive Chairman since November 2018. As of June 2021, he serves as Chairman Emeritus. He is an entrepreneur with over 27 years of experience identifying value in various financial markets, including equities, fixed income, commodities, and real estate. Mr. Ault was also appointed Executive Chairman of the Board of Ault Global (now BitNile Holdings) in March 2017 and CEO in December 2017.

Henry C. Nisser, Executive Vice President, General Counsel & Director

Mr. Nisser has served as Alzamend Neuro's Executive Vice President and General Counsel on a part-time basis since May 2019 and was appointed as a director in September 2020. Since May 2019, he has also served as the Executive Vice President and General Counsel of Ault Global and became President of BitNile Holdings (previously Ault Global Holdings) in January 2021.

Kenneth S. Cragun, Senior Vice President of Finance

Mr. Cragun was appointed Chief Financial Officer and Treasurer of Alzamend Neuro in December 2018, and is currently the Senior Vice President of Finance. He has over 30 years of experience serving various public and private multi-national businesses, with expertise in SEC reporting, cash management, and sophisticated technical accounting. His previous roles include CFO Partner at Hardesty, LLC, CFO of CorVel Corporation (NASDAQ: CRVL), RISA Tech, Inc., Local Corporation (NASDAQ-listed), and Modtech Holdings, Inc. (NASDAQ-listed).

AI Analysis | Feedback

The key risks to Alzamend Neuro's business include:

1. Clinical Trial Failure and Regulatory Approval: Alzamend Neuro is a clinical-stage biopharmaceutical company whose entire business model depends on the successful development and regulatory approval of its drug candidates, AL001 and ALZN002. The biopharmaceutical industry faces a high rate of clinical trial failures, and Alzamend Neuro is at an early stage of clinical development with no near-term revenue sources, meaning it may never become profitable. The success of these trials and subsequent regulatory approvals are decisive factors for the company's future value. Delays in development or issues like the termination of a contract with a clinical research organization (CRO) for ALZN002 further highlight the operational challenges and risks associated with bringing a drug to market.
2. Financial Sustainability and Need for Additional Capital: As a pre-revenue company, Alzamend Neuro relies entirely on raising capital through equity and debt financing to fund its research and development efforts. The company has reported an accumulated deficit of $57.4 million, and management has expressed substantial doubt about its ability to continue as a going concern due to insufficient cash flow for planned operations. Although recent financing activities have improved its financial position, continuous operating losses and the extensive funding required for drug development necessitate a constant need for additional capital. This ongoing need for capital may lead to further dilution of existing shareholders through the potential resale of common stock.
3. Intellectual Property Protection: The ability of Alzamend Neuro to commercialize its product candidates, AL001 and ALZN002, is contingent upon the breadth and strength of the protection provided by its patent applications. Any threat to this intellectual property protection could significantly impede the company's commercialization efforts. Furthermore, intellectual property litigation can expose confidential information and negatively impact the company's stock price based on public perception of interim proceedings.

AI Analysis | Feedback

AI Analysis | Feedback

Addressable Markets for Alzamend Neuro's Products:

1. Alzheimer's Disease (AD)

• Global Market: The global Alzheimer's disease treatment market was valued at USD 8.1 billion in 2024 and is projected to reach approximately USD 22.4 billion by 2034, exhibiting a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period. Another estimate places the global Alzheimer's drug market at USD 3.94 billion in 2024, expected to reach USD 7.13 billion by 2034. The Alzheimer's Disease Therapeutics Market is also expected to be worth around US$ 5.36 billion in 2024, growing to US$ 31.04 billion by 2034.
• United States Market: The U.S. Alzheimer's drugs market size was estimated at USD 1.48 billion in 2024 and is projected to be worth around USD 2.73 billion by 2034. Other reports indicate the U.S. Alzheimer's drugs market was valued at USD 3.22 billion in 2024, with an expectation to reach USD 5.64 billion by 2033. The U.S. Alzheimer's drugs market was worth USD 1.62 billion in 2022 and is projected to grow at a CAGR of 5.5% during the forecast period (2023-2030).
• Key Major Markets (8MM: US, France, Germany, Italy, Spain, UK, Japan, and China): The Alzheimer's disease market across these eight major markets is expected to grow from $2.4 billion in 2023 to $19.3 billion by 2033.

2. Bipolar Disorder (BD)

• Global Market: The global bipolar disorder drugs and treatment market was valued at USD 5.7 billion in 2024 and is projected to grow at a CAGR of over 3.8% from 2025 to 2034. Another report states the global bipolar disorder market size was USD 4.88 billion in 2023 and is projected to grow at a CAGR of 2.7% from 2024 to 2030. The global bipolar disorders treatment market is valued at USD 5.01 billion in 2025 and is forecast to reach USD 5.82 billion by 2030.
• North America Market: The North American bipolar disorder market was worth USD 2.66 billion in 2024 and is anticipated to grow to USD 3.31 billion by 2033. North America dominated the global bipolar disorder market with a market share of 39.4% in 2023.
• United States Market: The U.S. bipolar disorder drugs and treatment market is projected to reach USD 3.5 billion by 2034. The U.S. dominated the bipolar disorder market of North America in 2023 with a market share of 90.2%.

3. Major Depressive Disorder (MDD)

• Global Market: The global major depressive disorder market size, valued at USD 5.15 billion in 2024, is expected to climb to USD 11.09 billion by 2033 at a CAGR of 8.9% during the forecast period. Another source indicates the global major depressive disorder market was valued at USD 7.8 billion in 2024 and is expected to grow to USD 11.56 billion by 2032. The overall market size for the major depressive disorder treatment market was approximately USD 12,000 million in 2025, and it is expected to reach approximately USD 15,800 million by 2035.
• North America Market: North America was the largest region in the major depressive disorder market in 2024. The United States has the largest patient pool for major depressive disorder and also represents the largest market for its treatment within the top 7 major markets (US, EU4, UK, and Japan).

4. Post-traumatic Stress Disorder (PTSD)

• Global Market: The global Post-traumatic Stress Disorder Treatment Market size was valued at USD 13.2 billion in 2023 and is expected to exhibit growth at a CAGR of 4.4% from 2024 to 2032, reaching USD 19.2 billion by 2032. Other estimates show the global market size at USD 2.28 billion in 2024, predicted to reach around USD 3.42 billion by 2034. Another report projects the market to grow from USD 18.5 billion in 2025 to USD 30.2 billion by 2035.
• North America Market: North America accounted for USD 5.4 billion market revenue in 2023 and is anticipated to grow at a CAGR of 4.2% between 2024 and 2032. North America dominated the global market with the largest market share of 58% in 2024.
• United States Market: The U.S. Post-traumatic Stress Disorder treatment market size was exhibited at USD 1.03 billion in 2024 and is projected to be worth around USD 1.57 billion by 2034. The United States accounted for the highest market size of PTSD, approximately 90% of the total market size in 7MM (US, EU4, UK, and Japan) in 2024, which was USD 1.7 billion.

AI Analysis | Feedback

Alzamend Neuro (ALZN), a clinical-stage biopharmaceutical company, does not currently generate revenue from product sales. Expected future revenue growth over the next 2-3 years will be primarily driven by the advancement and potential commercialization of its pipeline drug candidates and strategic collaborations.

Here are 3-5 expected drivers of future revenue growth for Alzamend Neuro:

1. Advancement and Potential Commercialization of AL001 in Multiple Indications: The primary driver of future revenue growth for Alzamend Neuro is the successful development and eventual commercialization of its lead drug candidate, AL001. AL001, a patented ionic cocrystal technology, is being developed for the treatment of Alzheimer's disease (AD), Bipolar Disorder (BD), Major Depressive Disorder (MDD), and Post-traumatic Stress Disorder (PTSD). The company initiated the first of five planned Phase II clinical studies for AL001 in healthy human subjects in May 2025, with topline results anticipated by year-end 2025. Follow-up Phase II trials for AL001 in BD, MDD, PTSD, and AD are scheduled to launch through early 2026, with the bipolar disorder trial expected in Q3 2025 and AD, MDD, and PTSD trials in Q4 2025. Positive clinical trial results and subsequent regulatory approvals would pave the way for market entry and revenue generation.
2. Differentiated Product Profile of AL001 Leading to Market Adoption: AL001 is designed to offer a significant advantage over existing lithium treatments by achieving higher brain lithium concentrations with potentially less toxicity and eliminating the need for therapeutic drug monitoring (TDM). If these benefits are validated in clinical trials and gain regulatory approval, AL001's differentiated profile could lead to strong market penetration and rapid adoption by healthcare providers and patients across its targeted indications, thereby driving substantial revenue.
3. Successful Re-initiation and Progression of ALZN002 Clinical Trials for Alzheimer's Disease: Alzamend Neuro's second drug candidate, ALZN002, is a cell-based therapeutic vaccine aimed at combating Alzheimer's disease. While the Phase I/IIA clinical trial for ALZN002 faced delays due to a contract research organization (CRO) terminating its agreement in February 2024, the successful re-engagement of a new partner and continued progression of this immunotherapy through clinical trials would unlock another significant potential revenue stream.
4. Strategic Partnerships and Licensing Agreements: As AL001 and ALZN002 advance through clinical development, Alzamend Neuro may secure strategic partnerships or licensing agreements with larger pharmaceutical companies. These collaborations could provide upfront payments, milestone payments, and future royalties on sales, offering a significant source of non-product revenue. Such partnerships could also facilitate broader market access and accelerate commercialization efforts, particularly given the substantial costs associated with late-stage clinical trials and drug commercialization.

AI Analysis | Feedback

Share Issuance

• Alzamend Neuro completed a $5 million private placement in June 2025, ahead of schedule. The financing involved selling 500 shares of Series C Convertible Preferred Stock and warrants to a sophisticated investor.
• In September 2025, Alzamend Neuro issued 300,000 shares of common stock upon the conversion of 696 shares of Series B Convertible Preferred Stock, increasing its total outstanding common shares to 3,439,861.
• In May 2025, Alzamend's board of directors approved a one-for-nine reverse stock split to maintain compliance with Nasdaq's minimum bid price requirement.

Inbound Investments

• For the year ended April 30, 2025, net cash provided by financing activities was $10.4 million.
• A strategic financing in June 2025 involved a sophisticated investor purchasing up to $5 million of Series C Convertible Preferred Stock and warrants.

Capital Expenditures

• For the three months ended July 31, 2024, the company reported a "Purchase of equipment" amounting to $90,000.
• The capital raised from the $5 million private placement in 2025 is primarily intended to support five Phase II clinical trials of AL001 "Lithium in Brain" Studies at Massachusetts General Hospital, targeting Alzheimer's disease, bipolar disorder, major depressive disorder, and PTSD.