Alpha Cognition Inc.
Climate Impact & Sustainability Data (2024-03)
Reporting Period: 2024-03
Environmental Metrics
Climate Goals & Targets
Medium-term Goals:
- Continue to advance its development and commercialization activities for ALPHA-1062.
- Pursue the out-licensing of its TBI indication to Alpha Seven Therapeutics Inc.
Short-term Goals:
- Obtain FDA approval for its NDA for ALPHA-1062 in mild-to-moderate Alzheimer’s Disease (PDUFA goal date of July 27th, 2024).
Environmental Challenges
- The Company has not generated revenues from its operations to date and as at March 31, 2024, had a deficit of $68,352,389. Management believes it does not have sufficient working capital to fully meet the Company’s liabilities and commitments and will need to raise additional capital to cover upcoming planned R&D, commercialization and operating costs.
- There is a risk that additional financing will not be available on a timely basis, on terms acceptable, or at all to the Company.
Mitigation Strategies
- The Company has maintained cost-cutting measures initiated in the third quarter of 2022 to extend its cash runway and reduce ongoing cash burn. This includes streamlining R&D programs, reducing headcount, and reducing other operating costs.