ATLANTA – Alzamend Neuro, Inc. (Nasdaq: ALZN), a clinical-stage biopharmaceutical firm, has obtained approval from a Nasdaq Listening to Panel to stay listed on the Nasdaq Capital Market. The choice is contingent on the corporate demonstrating compliance with Nasdaq’s shareholder fairness guidelines by September 23, 2024, which requires a minimal shareholder fairness of $2.5 million.
Alzamend Chief Govt Stephan Jackman expressed gratitude to the skilled panel for approving the extension, which provides the corporate extra time to fulfill the mandatory monetary standards. Jackman affirmed Alzamend’s dedication to adhering to the compliance program submitted to the panel and expressed pleasure about sustaining the corporate’s standing on Nasdaq.
Alzamend Neuro develops remedies for Alzheimer’s illness, bipolar dysfunction, main despair and post-traumatic stress dysfunction. The corporate’s pipeline consists of two novel therapeutic candidates: AL001, which makes use of ionic eutectic know-how to ship lithium, and ALZN002, a cell remedy vaccine designed to fight Alzheimer’s illness.
The Firm’s progress and compliance efforts are documented in public paperwork and press releases, which can be accessed by shareholders, buyers and different events by means of the Investor Relations part of Alzamend’s web site or by means of the U.S. Securities and Trade Fee.
This announcement is predicated on a press launch from Alzamend Neuro, Inc.
Alzamend stated it doesn’t intend to publicly replace any forward-looking statements, no matter new data or future occasions, and acknowledges that precise outcomes could differ materially from these projected.
Funding Skilled Insights
As Alzamend Neuro, Inc. (NASDAQ: ALZN ) works to fulfill Nasdaq’s shareholder fairness guidelines, buyers are paying shut consideration to the corporate’s monetary well being and market efficiency. Alzamend’s market cap is at present simply $4.33 million, in line with InvestingPro. The corporate’s price-to-earnings ratio (P/E) is closely unfavourable at -0.34, reflecting market sentiment concerning challenges to its profitability.
InvestingPro Suggestions means that Alzamend is quickly depleting its money reserves and is grappling with weak gross margins. These elements lead analysts to count on the corporate to not be worthwhile this yr. Moreover, Alzamend’s short-term debt exceeds its liquid belongings, indicating potential liquidity threat.
Alzamend’s share value efficiency has additionally caught the eye of buyers. Since final yr, the corporate’s share value has plummeted an astonishing 91.93%, and the present share value is just 5.29% of its 52-week excessive. Regardless of these challenges, the corporate’s truthful worth is estimated at $0.78, in line with InvestingPro’s truthful worth evaluation, which can point out that its latest closing value of $0.63 could also be undervalued.
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