Opaleye boosts Alpha Cognition (ACOG) stake with open‑market buys

Rhea-AI Filing Summary

Alpha Cognition Inc. reported insider activity by Opaleye-managed entities. Opaleye, L.P. purchased 2,481 common shares on March 18, 2026 at a weighted average price of $5.749 and 2,094 shares on March 19, 2026 at a weighted average price of $5.707 in open-market transactions.

After these buys, Opaleye, L.P. reported holding 2,439,918 Alpha Cognition shares, and a separately managed account overseen by Opaleye reported 90,000 shares. Opaleye Management Inc. may be deemed to beneficially own these securities but disclaims beneficial ownership except to the extent of its pecuniary interest.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Opaleye Management Inc.

(Last) (First) (Middle)

ONE BOSTON PLACE, 26TH FLOOR

(Street)

BOSTON MASSACHUSETTS 02108

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Alpha Cognition Inc. [ ACOG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, no par value	03/18/2026		P		2,481	A	$5.749(3)	2,437,824	I	By Opaleye, L.P.(1)(5)
Common Stock, no par value	03/19/2026		P		2,094	A	$5.707(4)	2,439,918	I	By Opaleye, L.P.(1)(5)
Common Stock, no par value								90,000	I	By Managed Account(2)(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents securities owned directly by Opaleye, L.P. (the "Fund"). As the investment manager of the Fund, Opaleye Management Inc. may be deemed to beneficially own the securities owned directly by the Fund.

2. Securities owned by a separately managed account (the "Managed Account"). As the portfolio manager of the Managed Account, Opaleye may be deemed to beneficially own the securities owned directly by the Managed Account.

3. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.749 to $5.75. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price within the range.

4. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.699 to $5.75. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price within the range.

5. Opaleye Management Inc. disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Opaleye Management Inc. is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

	Opaleye Management Inc., By: /s/ James Silverman, President	03/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider activity did Opaleye report for Alpha Cognition (ACOG)?

Opaleye-managed entities reported open-market purchases of Alpha Cognition common stock. Opaleye, L.P. bought 2,481 shares on March 18, 2026 and 2,094 shares on March 19, 2026, both at weighted average prices slightly above $5.70 per share.

How many Alpha Cognition (ACOG) shares do Opaleye-related entities now hold?

Following the reported transactions, Opaleye, L.P. holds 2,439,918 Alpha Cognition common shares. A separately managed account overseen by Opaleye holds an additional 90,000 shares, giving Opaleye-managed vehicles a sizable combined equity position in the company.

At what prices did Opaleye buy Alpha Cognition (ACOG) shares?

The reported purchases were made at weighted average prices of $5.749 per share on March 18, 2026 and $5.707 per share on March 19, 2026. Footnotes note these averages reflect multiple trades within narrow intraday price ranges.

Who is reported as the owner of the Alpha Cognition (ACOG) shares in this Form 4?

The shares are owned directly by Opaleye, L.P. and a separately managed account. As investment manager and portfolio manager, Opaleye Management Inc. may be deemed a beneficial owner but expressly disclaims beneficial ownership except for its pecuniary interest.

Does this Alpha Cognition (ACOG) Form 4 include any derivative securities?

This Form 4 only reports transactions in Alpha Cognition common stock with no par value. The derivative securities section is empty, indicating no option, warrant, or other derivative positions are being reported in this particular filing.

Are all Opaleye Alpha Cognition (ACOG) trades in this Form 4 open-market purchases?

Yes. The two reportable transactions are coded “P” and described as open-market purchases. One occurs on March 18, 2026 and the other on March 19, 2026, both executed through market transactions at stated weighted average prices.