Alzamend Neuro Inc
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $7.4M
- Price
- $1.55
- % Change (Daily % change from the live per-ticker quote feed.)
- +6.16%
- Volume
- 87.6K
About
Alzamend Neuro, Inc., an early clinical-stage biopharmaceutical company, focuses on developing various products for the treatment of neurodegenerative and psychiatric disorders. The company's pipeline includes AL001 that is in Phase II clinical trial, which delivers a therapeutic combination of lithium, proline, and salicylate for the treatment of Alzheimer's, bi-polar disorder, post-traumatic stress disorder, major depressive disorder, other neurodegenerative diseases, and psychiatric disorders; and AL002 that completed preclinical stage, which uses a method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine to restore the ability of a patient's immunological system to combat Alzheimer's disease. Alzamend Neuro, Inc. was incorporated in 2016 and is headquartered in Atlanta, Georgia.
Quick stats
Shares outstanding4.8M
Computed float3.8M
Float / shares78.3%
Key info
SectorHealthcare
IndustryBiotechnology
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001677077
Websitehttps://www.alzamend.com
AI Summary
AI-generated1/3
standardbullishoffering
Alzamend Neuro Announces Initial Closing of Securities Purchase Agreement with Ault Lending
Alzamend Neuro closed an initial $7.5 million tranche of a Series D Convertible Preferred Stock purchase agreement with Ault Lending, totaling a potential $25 million commitment.
The deal provides for a second tranche of $2.5 million and $15 million in monthly installments over 15 months to fund clinical trials for AL001 and ALZN002.
Proceeds will be used for working capital and corporate purposes, supporting the development of treatments for Alzheimer's and psychiatric disorders.
Red flags
- 2% origination fee charged at each tranche closing
- use of proceeds includes general corporate purposes