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ATLANTA - Alzamend Neuro , Inc. (NASDAQ:ALZN), a micro-cap biopharmaceutical company with a market value of $5.92 million engaged in developing treatments for neurological disorders and mental health conditions, has reported the completion of a specialized head coil by Tesla (NASDAQ:TSLA) Dynamic Coils BV. According to InvestingPro data, the company maintains a healthy current ratio of 3.8, indicating strong short-term liquidity despite challenging market conditions. This development is a step towards the company’s upcoming Phase II clinical trials, which aim to compare the pharmacokinetics of their product AL001 against traditional lithium carbonate in subjects with various neurological and psychiatric conditions. InvestingPro analysis reveals that while the company is quickly burning through cash, it maintains more cash than debt on its balance sheet. Subscribers can access 11 additional ProTips about ALZN’s financial position.
The innovative head coil is designed to enable high-resolution whole-brain imaging, facilitating the precise measurement of lithium distribution within the brain. This technology is expected to help determine optimal dosages of AL001 that balance safety and efficacy, potentially improving treatment for patients with Alzheimer’s disease, bipolar disorder (BD), major depressive disorder (MDD), and post-traumatic stress disorder (PTSD).
Alzamend’s collaboration with Massachusetts General Hospital will oversee the clinical trials. These studies will assess how AL001, a novel lithium-delivery system, distributes lithium in the brain compared to existing lithium salts. Preliminary nonclinical studies have shown that AL001 may optimize brain absorption with lower blood concentration levels, indicating potential benefits for human use.
The company believes that the head coil’s completion will provide unprecedented insights into lithium’s interactions within the brain and could expand lithium’s applications in treating various neurodegenerative diseases and psychiatric disorders. The trials will also explore the possibility of eliminating the need for therapeutic drug monitoring of lithium, which could simplify treatment protocols. With the stock trading near its 52-week low of $1.05 and the next earnings report scheduled for March 14, 2025, investors using InvestingPro can access comprehensive Fair Value analysis and financial health metrics to evaluate the investment opportunity.
AL001 has completed a Phase IIA multiple-ascending dose study, identifying a maximum tolerated dose that may not require therapeutic drug monitoring, suggesting a safer and more effective dosing strategy compared to current lithium salts.
This press release contains forward-looking statements and is based on current beliefs and assumptions subject to risks and uncertainties. Alzamend has stated that it will share additional details about the trials in the future.
The information reported is based on a press release statement from Alzamend Neuro, Inc.
In other recent news, Alzamend Neuro, Inc. has reported promising results from a nonclinical study of its brain-targeted lithium therapy, AL001. Conducted at the University of South Florida, the study compared AL001 to lithium carbonate, a current FDA-approved treatment, using 5XFAD mice, a model for Alzheimer’s research. The findings indicated that AL001 achieved higher lithium concentrations in critical brain regions at lower doses compared to lithium carbonate, while also showing lower plasma lithium levels. This suggests a reduced risk of adverse systemic effects, which could be significant for patients with Alzheimer’s, bipolar disorder, major depressive disorder, and post-traumatic stress disorder. The results imply that AL001 may deliver brain-specific lithium treatment more effectively and with fewer side effects, potentially alleviating the need for routine blood monitoring and reducing the risk of thyroid and kidney complications. Alzamend’s CEO, Stephan Jackman, mentioned that the data will guide the upcoming Phase II clinical trials in partnership with Massachusetts General Hospital. These trials will assess AL001 in healthy subjects and patients with mild to moderate Alzheimer’s and other conditions. Additionally, Alzamend’s pipeline includes AL002, a cell-based therapeutic vaccine for Alzheimer’s, both licensed from the University of South Florida Research Foundation, Inc.
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