Alzamend Neuro Files 10-Q for Q2 2024
Ticker: ALZN · Form: 10-Q · Filed: Dec 11, 2024 · CIK: 1677077
| Field | Detail |
|---|---|
| Company | Alzamend Neuro, INC. (ALZN) |
| Form Type | 10-Q |
| Filed Date | Dec 11, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001, $0 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, pharmaceutical, financials
TL;DR
Alzamend Neuro's Q2 10-Q is in. Check financials for latest updates.
AI Summary
Alzamend Neuro, Inc. filed its 10-Q for the period ending October 31, 2024. The company reported financial results and provided updates on its business operations. Key financial figures and operational details are presented in the filing.
Why It Matters
This filing provides investors with a quarterly update on Alzamend Neuro's financial health and business progress, crucial for understanding the company's trajectory in the pharmaceutical sector.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Alzamend Neuro faces inherent risks related to drug development, clinical trials, regulatory approvals, and market competition.
Key Numbers
- 2024-10-31 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-12-11 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- Alzamend Neuro, Inc. (company) — Filer of the 10-Q
- 2024-10-31 (date) — End of the reporting period
- 2024-12-11 (date) — Date of filing
- 3500 LENOX RD. NE (address) — Company's business and mailing address
- ATLANTA, GA 30326 (address) — Company's business and mailing address
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended October 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on December 11, 2024.
What is Alzamend Neuro, Inc.'s primary business classification?
Alzamend Neuro, Inc. is classified under Pharmaceutical Preparations (SIC code 2834).
What is the company's fiscal year end?
The company's fiscal year ends on April 30.
Where is Alzamend Neuro, Inc. located?
Alzamend Neuro, Inc. is located at 3500 Lenox Rd. NE, Suite 1500, Atlanta, GA 30326.
Filing Stats: 4,611 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-12-11 16:30:34
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share ALZN NASDAQ Capit
- $0 — 024 and 2023, with an exercise price of $0.06, from its anti-dilutive securities a
Filing Documents
- p12624510q.htm (10-Q) — 857KB
- ex31_1.htm (EX-31.1) — 8KB
- ex31_2.htm (EX-31.2) — 7KB
- ex32_1.htm (EX-32.1) — 5KB
- 0001214659-24-020264.txt ( ) — 4174KB
- alzm-20241031.xsd (EX-101.SCH) — 37KB
- alzm-20241031_cal.xml (EX-101.CAL) — 31KB
- alzm-20241031_def.xml (EX-101.DEF) — 119KB
- alzm-20241031_lab.xml (EX-101.LAB) — 302KB
- alzm-20241031_pre.xml (EX-101.PRE) — 242KB
- p12624510q_htm.xml (XML) — 552KB
Financial Statements (unaudited)
Financial Statements (unaudited) 3 Condensed Balance Sheets 3 Condensed Statements of Operations 4 Condensed Statements of Stockholders' (Deficit) Equity 5 Condensed Statements of Cash Flows 9 Notes to Condensed Financial Statements 10 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.
Controls and Procedures
Controls and Procedures 37 PART II. OTHER INFORMATION 39 Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 40
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Alzamend Neuro, Inc. Condensed Balance Sheets (Unaudited) October 31, 2024 April 30, 2024 ASSETS CURRENT ASSETS Cash $ 4,093,073 $ 376,048 Prepaid expenses and other current assets 673,669 79,194 TOTAL CURRENT ASSETS 4,766,742 455,242 Property, plant and equipment, net 240,976 176,346 TOTAL ASSETS $ 5,007,718 $ 631,588 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES Accounts payable and accrued liabilities $ 1,254,750 $ 2,925,059 Note payable - 300,714 TOTAL LIABILITIES, ALL CURRENT $ 1,254,750 $ 3,225,773 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY (DEFICIT) Series A Convertible Preferred Stock, $ 0.0001 shares designated; 87.9867 and nil 0 issued and outstanding as of October 31, 2024 and April 30, 2024, respectively - - Series B Convertible Preferred Stock, $ 0.0001 stated value per share, 6,000 designated; 2,100 issued and outstanding as of October 31, 2024 and April 30, 2024 - - Common stock, $ 0.0001 par value: 300,000,000 shares authorized; 5,231,254 and 687,999 issued and outstanding as of October 31, 2024 and April 30, 2024, respectively 523 69 Additional paid-in capital 60,162,478 51,426,154 Accumulated deficit ( 56,410,033 ) ( 54,020,408 ) TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 3,752,968 ( 2,594,185 ) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,007,718 $ 631,588 The accompanying notes are an integral part of these unaudited condensed financial statements. 3 Alzamend Neuro, Inc. Condensed Statements of Operations (Unaudited) For the Three Months Ended October 31, For the Six Months Ended October 31, 2024 2023 2024 2023 OPERATING EXPENSES Research and development $ 311,088 $ 1,996,783 $ 517,659 $ 4,362,920 General and administrative 1,046,980 904,939 1,802,814 2,064,732 Total operating expenses 1,358,068 2,901,722 2,320,473 6,427,652 Loss from operat