Alzamend Neuro reported a reduced net loss of $974,411 for Q1 FY2025 ended July 31, 2024, compared to a $3.5 million loss in the same period last year. Revenue remained at zero while operating expenses decreased 73% to $962,405, primarily due to lower research and development costs of $206,571, down from $2.4 million. The company ended the quarter with cash of $1.2 million, up from $376,048 at April 30, 2024.The company strengthened its financial position through several equity transactions, including the sale of Series A Convertible Preferred Stock to Orchid Finance for $2.5 million and Series B Convertible Preferred Stock arrangements. These financings are crucial as management believes current cash is insufficient to fund planned operations through the next year, creating substantial doubt about continuing as a going concern.Alzamend continues to advance its...Show More

Alzamend Neuro reported a reduced net loss of $974,411 for Q1 FY2025 ended July 31, 2024, compared to a $3.5 million loss in the same period last year. Revenue remained at zero while operating expenses decreased 73% to $962,405, primarily due to lower research and development costs of $206,571, down from $2.4 million. The company ended the quarter with cash of $1.2 million, up from $376,048 at April 30, 2024.The company strengthened its financial position through several equity transactions, including the sale of Series A Convertible Preferred Stock to Orchid Finance for $2.5 million and Series B Convertible Preferred Stock arrangements. These financings are crucial as management believes current cash is insufficient to fund planned operations through the next year, creating substantial doubt about continuing as a going concern.Alzamend continues to advance its two key drug candidates - AL001 for Alzheimer's, bipolar disorder, major depressive disorder and PTSD, and ALZN002 for Alzheimer's treatment. The company completed Phase IIA trials for AL001 with positive topline data and plans to initiate new clinical trials in 2025. Development progress includes receiving "study may proceed" letters from FDA for multiple indications of AL001.