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Alzamend Neuro, Inc. reports clinical-stage biopharmaceutical developments for therapies aimed at Alzheimer's disease, bipolar disorder, major depressive disorder and post-traumatic stress disorder. Its pipeline centers on AL001, a patented ionic cocrystal formulation that delivers lithium with salicylate and L-proline, and ALZN002, a cell-based therapeutic vaccine approach designed to target Alzheimer's beta-amyloid.
Recurring news includes Phase II “Lithium in Brain” clinical study updates, brain and blood lithium pharmacokinetic and pharmacodynamic data, research activity with Massachusetts General Hospital, scientific presentations, annual financial results and financing actions supporting the company's clinical programs.
Alzamend Neuro (Nasdaq: ALZN) has received a favorable FDA study may proceed letter for its AL001 oral therapy aimed at treating dementia related to Alzheimer's disease. This Phase 1 trial is expected to commence in September 2021. AL001 utilizes a patented lithium-based ionic cocrystal technology, which has shown promising preclinical results, enhancing cognitive function and reducing behavioral issues in mice compared to traditional lithium treatments. The company’s pipeline also includes AL002, another innovative Alzheimer's treatment.
Alzamend Neuro, Inc. (Nasdaq: ALZN) announced positive results from a GLP toxicology study of its product AL002, aimed at treating Alzheimer’s disease. Conducted on a transgenic mouse model, the study showed no significant toxicity, with no treatment-related mortalities or adverse effects noted. CEO Stephan Jackman stated that these results are a critical milestone, as the company prepares to submit a Pre-Investigational New Drug Application for AL002 to the FDA. Alzamend aims to develop innovative treatments for neurodegenerative diseases at an affordable cost.
Alzamend Neuro (Nasdaq: ALZN) celebrates its recent Nasdaq listing by ringing the opening bell on July 12, 2021. The event is led by CEO Stephan Jackman and Chairman William B. Horne, marking a significant milestone for stockholders and the ongoing fight against Alzheimer’s disease. Alzamend has raised approximately $14.4 million through its IPO, which will fund operations and clinical trials. The company is advancing its therapeutic candidate, AL001, and aims to develop innovative treatments for Alzheimer's and other neurodegenerative diseases.
Ault Global Holdings announced that Alzamend Neuro submitted an IND application to the FDA for a Phase 1 clinical study of AL001, a lithium-based therapy for Alzheimer's-related dementia. This IND marks a significant step in Alzamend's pipeline development. Following this study, Alzamend plans a Phase 1/2a trial to assess safety and effectiveness. With over 47 million people affected by dementia globally, the economic burden is immense, costing the U.S. approximately $355 billion in 2021 alone. Ault holds 5.3 million shares of Alzamend, showing a strong commitment to the development of treatments for neurodegenerative diseases.
Alzamend Neuro (Nasdaq: ALZN) has submitted an investigational new drug (IND) application to the FDA for the Phase 1 clinical study of AL001, a lithium-based therapy for Alzheimer's related dementia. The initial study aims to assess safe dosing, followed by a Phase 1/2a trial to evaluate safety and preliminary efficacy. Alzamend believes AL001 may enhance current lithium treatments. Preclinical data suggests it improves cognitive function compared to lithium carbonate treatments. The economic impact of Alzheimer's is significant, with high lifetime care costs.
Alzamend Neuro has successfully closed its initial public offering (IPO) of 2,500,000 shares, plus a full exercise of the underwriter's over-allotment option resulting in a total of 2,875,000 shares priced at $5.00 per share. The gross proceeds from the offering are approximately $14.4 million. This funding will support Alzamend's mission to develop treatments for neurodegenerative diseases and psychiatric disorders, including Alzheimer's Disease. The company operates with exclusive worldwide licenses for its product candidates from the University of South Florida Research Foundation.
Alzamend Neuro has priced its initial public offering (IPO) of 2,500,000 shares at $5.00 each, aiming to raise gross proceeds of $12.5 million. The IPO is expected to commence trading on Nasdaq under the ticker symbol ALZN on June 15, 2021, with an anticipated closing date of June 17, 2021. Underwriters have a 45-day option to purchase an additional 375,000 shares. Alzamend focuses on developing treatments for neurodegenerative diseases and psychiatric disorders, particularly Alzheimer’s Disease, with two novel product candidates licensed from the University of South Florida.