Alpha Cognition raises $35 million in oversubscribed public offering

VANCOUVER & DALLAS - Alpha Cognition Inc. (NASDAQ:ACOG) has priced an oversubscribed public offering of 5.6 million common shares at $6.25 per share, raising approximately $35 million in gross proceeds, the biopharmaceutical company announced in a press release statement.

The offering, expected to close around October 2, was led by an initial investment from a healthcare-dedicated investor alongside multiple large existing shareholders. Titan Partners Group, a division of American Capital Partners, is acting as sole bookrunner.

Following the closing, Alpha Cognition’s total cash position is expected to reach approximately $70 million. According to InvestingPro analysis, the company already holds more cash than debt on its balance sheet, with a robust current ratio of 14.69, indicating strong liquidity. The company has granted the underwriter a 30-day option to purchase up to an additional 840,000 common shares to cover potential over-allotments.

Alpha Cognition plans to use the net proceeds to accelerate the commercial launch of ZUNVEYL (Benzgalantamine), its treatment for Alzheimer’s disease, with emphasis on sales expansion, marketing investment, and enhancing payer coverage and reimbursement infrastructure.

"The enthusiastic support from both existing and new healthcare investors underscores confidence in our vision and growth potential," said Michael McFadden, Chief Executive Officer, according to the press release.

The offering is being made pursuant to a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on August 22, 2025, and declared effective on August 29, 2025.

Alpha Cognition is a commercial-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases, including Alzheimer’s Disease and Cognitive Impairment with mild Traumatic Brain Injury. While the stock has experienced an 18.62% decline over the past week, InvestingPro analysis suggests the company is currently undervalued, with additional insights available in the comprehensive Pro Research Report, part of InvestingPro’s coverage of over 1,400 US stocks.

In other recent news, Alpha Cognition Inc. reported its Q2 2025 earnings, highlighting a substantial operating loss and a net loss of $10.5 million. Despite the commercial launch of its Alzheimer’s treatment, Zunveil, the company faced high operating expenses. Additionally, Alpha Cognition announced a proposed public offering of common shares and pre-funded warrants, with Titan Partners Group acting as the sole bookrunner. The company plans to grant the underwriter a 30-day option to purchase additional common shares equal to 15% of the total shares sold. The offering’s completion, size, and terms remain subject to market conditions. Furthermore, Alpha Cognition entered into a $75 million At the Market Offering Agreement with H.C. Wainwright & Co. This agreement allows the company to sell shares at its discretion, with H.C. Wainwright receiving a commission of up to 3.0% of the gross sales price. Alpha Cognition is not obligated to sell shares under this agreement and may suspend or terminate the offering at any time.

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