Alzamend Neuro Reports Annual 2025 Financial Results and Provides Update on Clinical Programs
During the year ended April 30, 2025, net cash provided by financing activities was $10.4 million
Stockholder equity of $4.0 million at April 30, 2025, including $3.9 million of cash
In May 2025, Alzamend dosed the first patient for the healthy human patients for the AL001 "Lithium in Brain" Studies at Massachusetts General Hospital
In June 2025, Alzamend completed the final closing of its $5 million private placement months ahead of schedule
ATLANTA, July 23, 2025 (GLOBE NEWSWIRE) -- Alzamend Neuro, Inc. (NASDAQ:ALZN) ("Alzamend"), a clinical-stage biopharmaceutical company focused on developing novel products for the treatment of Alzheimer's disease ("Alzheimer's"), bipolar disorder ("BD"), major depressive disorder ("MDD") and post-traumatic stress disorder ("PTSD"), reported its financial results for the year ended April 30, 2025, which were disclosed on an annual report on Form 10-K filed on July 22, 2025, with the Securities and Exchange Commission. Alzamend has strengthened its financial position, reflecting a strategic focus on fiscal prudence and effective capital management. Key financial highlights include:
Net cash provided by financing activities of $10.4 million for the year ended April 30, 2025;
Stockholder equity of $3.9 million at April 30, 2025, compared to a stockholder deficit of $2.6 million at April 30, 2024;
Cash of $3.9 million at April 30, 2025, compared to $0.4 million at April 30, 2024; and
Total liabilities of $0.6 million at April 30, 2025, compared to $3.2 million at April 30, 2024.
Earlier this year, Alzamend entered into a Securities Purchase & Exchange Agreement (the "Agreement") with a sophisticated investor (the "Investor"), pursuant to which Alzamend agreed to sell to the Investor up to 500 shares of Series C Convertible Preferred Stock (the "Preferred Stock") and 111,111 warrants (the "Warrants") to purchase shares of Alzamend's common stock for a total purchase price of up to $5 million, less a five percent (5%) discount (the "Financing") in seven monthly tranche closings (a "Tranche Closing"), starting in April 2025, with the Investor having the ability, in its sole discretion, to purchase Preferred Stock prior to the dates set for each Tranche Closing.
Subsequent to our year ended April 30, 2025, ...
