Alzamend Neuro Files 2024 10-K

Ticker: ALZN · Form: 10-K · Filed: Jul 30, 2024 · CIK: 1677077

Alzamend Neuro, INC. 10-K Filing Summary
FieldDetail
CompanyAlzamend Neuro, INC. (ALZN)
Form Type10-K
Filed DateJul 30, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.0001, $360 b, $231 billion, $1
Sentimentneutral

Sentiment: neutral

Topics: 10-K, pharmaceuticals, annual-report

TL;DR

Alzamend Neuro's 2024 10-K is in. Check financials and biz ops.

AI Summary

Alzamend Neuro, Inc. filed its 10-K for the fiscal year ending April 30, 2024, reporting on its operations and financial condition. The company is focused on the pharmaceutical preparations sector, specifically in the development of treatments. Key financial data and operational details for the fiscal year 2024 are presented in this filing.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Alzamend Neuro's financial health and strategic direction for the past fiscal year, crucial for understanding its current market position and future prospects.

Risk Assessment

Risk Level: medium — As a pharmaceutical company in the development stage, Alzamend Neuro faces inherent risks related to clinical trials, regulatory approvals, and market adoption of its products.

Key Numbers

Key Players & Entities

FAQ

What is Alzamend Neuro's primary business activity?

Alzamend Neuro, Inc. is primarily involved in Pharmaceutical Preparations [2834].

What is the fiscal year end for Alzamend Neuro?

The fiscal year end for Alzamend Neuro is April 30.

When was this 10-K filing submitted?

This 10-K filing was submitted on July 30, 2024.

What is the company's state of incorporation?

Alzamend Neuro, Inc. is incorporated in Delaware (DE).

What is the company's SEC file number?

The SEC file number for Alzamend Neuro, Inc. is 001-40483.

Filing Stats: 4,476 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-07-30 16:30:39

Key Financial Figures

Filing Documents

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 23 Item 1B. Unresolved Staff Comments 47 Item 1C. Cybersecurity 47 Item 2.

Properties

Properties 48 Item 3.

Legal Proceedings

Legal Proceedings 48 Item 4. Mine Safety Disclosures 48 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 49 Item 6. [Reserved] 49 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 50 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 60 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 60 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 60 Item 9A.

Controls and Procedures

Controls and Procedures 61 Item 9B. Other Information 62 Item 9C. Disclosures Regarding Foreign Jurisdictions that Prevent Inspections 62 PART III Item 10. Directors, Executive Officers and Corporate Governance 63 Item 11.

Executive Compensation

Executive Compensation 67 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Stockholder Matters 72 Item 13. Certain Relationships and Related Transactions and Director Independence 74 Item 14. Principal Accountant Fees and Services 76 PART IV Item 15. Exhibit and Financial Statement Schedules 77 Item 16. Form 10-K Summary 78

Signatures

Signatures 79 NOTE ABOUT FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (the "Annual Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events or our future financial performance. We have attempted to identify

forward-looking statements by terminology including "anticipates," "believes," "expects," "can,"

forward-looking statements by terminology including "anticipates," "believes," "expects," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predict," "should" or "will" or the negative of these terms or other comparable terminology. These statements are only predictions; uncertainties and other factors may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels or activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking of the date this Annual Report is filed, and we do not intend to update any of the forward-looking statements after the date this Annual Report is filed to confirm these statements to actual results, unless required by law. This Annual Report also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other industry data. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the statistical and other industry data generated by independent parties and contained in this Annual Report and, accordingly, we cannot guarantee their accuracy or completeness, though we do generally believe the data to be reliable. In addition, projections, assumptions and estimates of our future performance and the future performance of the industries in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described in "Risk Factors" and elsewhere in this Annual Report. These and other factors could cause results to differ materially from those expressed in the estima

BUSINESS

ITEM 1. BUSINESS In this Annual Report, unless the context requires otherwise, references to the "Company," "Alzamend," "we," "our company" and "us" refer to Alzamend Neuro, Inc., a Delaware corporation and its subsidiary. Company Overview We are 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"). With our two product candidates, we aim to bring treatments or potential cures to market as quickly as possible. Far too many individuals, patients and caregivers suffer from the burden created by these devastating, and often fatal, diseases. Our primary target, Alzheimer's, is among the most-feared diseases (second only to cancer) among Americans, according to a 2023 Center for Disease Control survey. Alzheimer's is also the seventh leading cause of death (in 2020 and 2021) in the United States ("U.S.") according to a 2024 report from the Alzheimer's Association, a nonprofit that funds research. Existing Alzheimer's treatments only temporarily relieve symptoms and while one treatment has been shown to slow the progression of the disease, none had been shown to halt the progression of the disease, which currently affects roughly 6.9 million Americans, and that number is expected to grow to 13 million individuals by 2050. Alzheimer's also impacts more than 11 million Americans who provide an estimated 18 billion hours of unpaid care per year, according to data provided by the Alzheimer's Association. In 2024, the estimated healthcare costs for treating individuals with Alzheimer's in the U.S. will be $360 billion, including $231 billion in Medicare and Medicaid payments. These costs could rise to as high as $1 trillion per year by 2050 if no permanent treatment or cure for Alzheimer's is found, according to the Alzheimer's Association. Our pipeline consists of two novel therapeutic

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