Alzamend Neuro, Inc. reported financial results for the fiscal year ended April 30, 2024. The clinical-stage biopharmaceutical company focused on Alzheimer's and other neurodegenerative disorders recorded no revenue, consistent with the previous year. Net loss narrowed to $9.9 million from $14.9 million in FY2023, primarily due to reduced operating expenses.Research and development expenses decreased to $6.5 million from $7.4 million, while general and administrative costs fell significantly to $3.5 million from $7.4 million. The company ended the fiscal year with $376,000 in cash, down from $5.1 million at the end of FY2023. Alzamend raised $3.7 million through financing activities during the year, including the issuance of preferred stock and warrants.Alzamend continued to advance its lead candidates AL001 and ALZN002 through clinical trials. The company completed a Phase IIA study for AL001 and initiated a Phase I/IIA trial for ALZN002. Management expressed confidence in the potential of these therapies but acknowledged the need for substantial additional funding to complete development and commercialization efforts.

Alzamend Neuro, Inc. reported financial results for the fiscal year ended April 30, 2024. The clinical-stage biopharmaceutical company focused on Alzheimer's and other neurodegenerative disorders recorded no revenue, consistent with the previous year. Net loss narrowed to $9.9 million from $14.9 million in FY2023, primarily due to reduced operating expenses.Research and development expenses decreased to $6.5 million from $7.4 million, while general and administrative costs fell significantly to $3.5 million from $7.4 million. The company ended the fiscal year with $376,000 in cash, down from $5.1 million at the end of FY2023. Alzamend raised $3.7 million through financing activities during the year, including the issuance of preferred stock and warrants.Alzamend continued to advance its lead candidates AL001 and ALZN002 through clinical trials. The company completed a Phase IIA study for AL001 and initiated a Phase I/IIA trial for ALZN002. Management expressed confidence in the potential of these therapies but acknowledged the need for substantial additional funding to complete development and commercialization efforts.