ACOG

Company Overview — What Does Alpha Cognition Inc. Do?

The Company is a biopharmaceutical company dedicated to developing treatments for patients suffering from neurodegenerative diseases, such as Alzheimer’s disease (“Alzheimer’s disease” or “AD”), for which there are limited or no treatment options. On July 26, 2024, the Company received approval by the FDA of the Company’s New Drug Application (the “NDA”) for ZUNVEYL™ (benzgalantamine) previously known as ALPHA-1062 (“ZUNVEYL” or “ALPHA-1062”) a delayed release oral tablet formulation indicated for the treatment mild to moderate dementia of the Alzheimer’s type in adults (Alzheimer’s disease). The Company will now focus on the commercial manufacturing and sales of ZUNVEYL oral tablet formulation. The Company’s commercial development program for ZUNVEYL is primarily focused on building a long term care commercial team that can focus on providing key points of differentiation, exploiting key issues with existing Acetylcholinesterase inhibitors (“AChEI”) treatments, and seeking potential licensing partners for other additional indications and new formulations. The Company intends to target large volume nursing homes specializing in Alzheimer’s, to leverage an account based sales team with demonstrated success in long-term care (“LTC”), in order to position ZUNVEYL with Medicare payors, and to work with strategic and clinical partnerships with consultant pharmacists and long term care pharmacies. The Company has five additional pre-clinical development programs: (1) ZUNVEYL in combination with memantine for the treatment of moderate-to-severe Alzheimer’s disease, (2) ALPHA-1062 sublingual formulation, (3) ALPHA-1062 intranasal (“ALPHA-1062IN”) formulation for the treatment of cognitive impairment with mild traumatic brain injury (mTBI; otherwise known as concussion), (4) ALPHA-0602, and (5) ALPHA-0702 & ALPHA-0802, the latter two programs also referred to as ‘Progranulin’ and ‘Progranulin GEM’s’, respectively, for the treatment of neurodegenerative diseases including amyotrophic lateral sclerosis (ALS) or Lou Gehrig’s disease and spinal muscular atrophy (SMA). ZUNVEYL, is a patented next generation acetylcholinesterase inhibitor indicated for the treatment of mild to moderate dementia of the Alzheimer’s type in adults. ZUNVEYL’s active metabolite is differentiated from donepezil and rivastigmine in that it binds neuronal nicotinic receptors, most notably the alpha-7 subtype, which is known to have a positive effect on cognition. In addition to our approved oral formulation, ZUNVEYL is also in pre-clinical development (1) in combination with memantine to treat moderate to severe Alzheimer’s disease, (2) alone as a with sublingual formulation for patients suffering from dysphagia, and (3) alone and referred to herein as “ALPHA-1062IN” that is intended to be out-licensed for pre-clinical development to study an intranasal formulation for cognitive impairment with mTBI. Our other pre-clinical assets include ALPHA-0602 and ALPHA-0702 & ALPHA-0802 (Progranulin and Progranulin GEM’s). In general, progranulin is a protein expressed in several cell types in the central nervous system and in peripheral tissues that promote cell survival, regulate certain inflammatory processes, and play a significant role in regulating lysosomal function and microglial responses to disease. Its intended use for the treatment of neurodegenerative diseases has been patented by the Company and ALPHA-0602 has been granted an Orphan Drug Designation for the treatment of ALS by the FDA. Orphan Drug Designation was provided for ALPHA-0602 by the Office of Orphan Drug Products, FDA on February 2020 based on the Federal Food Drug, and Cosmetic Act, whereby the ALPHA-0602 met the criteria designated in Section 526 of such Act. The Orphan Drug Designation allows for exclusivity provisions provided the drug is approved first for indication: treatment of amyotrophic lateral sclerosis ALPHA-0702 and ALPHA-0802 are Granulin Epithelin Motifs, (“GEMs”), derived from full length progranulin which have therapeutic potential across multiple neurodegenerative diseases. GEMs have been shown to be important in regulating cell growth, survival, repair, and inflammation. ALPHA-0702 and ALPHA-0802 are designed to deliver this result with potentially lower toxicity, and greater therapeutic effect than full length progranulin. As the assets are pre-clinical and do not add material value to the Company, the Company will not develop these assets further and instead will seek to out-license the assets to interested third parties. Given the early stage of discussion with third parties, the Company cannot assess value to a license agreement. --- We were incorporated on November 15, 2017 under the Business Corporations Act (British Columbia) (“BCBCA”) under the name “Crystal Bridge Enterprises Inc.” as a Canadian Capital Pool Company. A Canadian Capital Pool Company is a special purpose acquisition company organized for the purposes of completing acquisition transactions, known as “qualifying transactions,” with operating companies for the purposes of taking the operating companies public in Canada. Qualifying transactions are subject to Canadian securities laws and exchange listing requirements. We completed our qualifying transaction with Alpha Cognition Canada Inc. on March 18, 2021, and changed our name to Alpha Cognition Inc. As a result of the qualifying transaction, Alpha Cognition Canada Inc. became the Company’s wholly-owned subsidiary. Our principal executive offices are located at 1200 – 750 West Pender Street, Vancouver, British Columbia. Our offices in the United States are located at 20073 Fiddler’s Green, Frisco, Texas. Alpha Cognition Inc. (ACOG) is classified as a micro-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Michael McFadden, headquartered in VANCOUVER, Texas. With a market capitalization of $130M, ACOG is one of the notable companies in the Healthcare sector.

Alpha Cognition Inc. (ACOG) Stock Rating — Hold (April 2026)

As of April 2026, Alpha Cognition Inc. receives a Hold rating with a composite score of 31.9/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.ACOG ranks #1,704 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, Alpha Cognition Inc. ranks #164 of 838 stocks, placing it in the top quartile of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

ACOG Stock Price and 52-Week Range

Alpha Cognition Inc. (ACOG) currently trades at $6.03. The stock lost $0.35 (5.5%) in the most recent trading session. The 52-week high for ACOG is $11.54, which means the stock is currently trading -47.7% from its annual peak. The 52-week low is $3.75, putting the stock 60.8% above its annual trough. Recent trading volume was 48K shares, suggesting relatively thin trading activity.

Is ACOG Overvalued or Undervalued? — Valuation Analysis

Alpha Cognition Inc. (ACOG) carries a value factor score of 20/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 2.42x, versus the sector average of 2.75x. The price-to-sales ratio is 20.37x, compared to 1.66x for the average Healthcare stock.

At current multiples, Alpha Cognition Inc. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Alpha Cognition Inc. Profitability — ROE, Margins, and Quality Score

Alpha Cognition Inc. (ACOG) earns a quality factor score of 29/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -25.1%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -19.7% versus the sector average of -33.1%.

On a margin basis, Alpha Cognition Inc. reports gross margins of 98.1%, compared to 71.5% for the sector. The operating margin is -219.6% (sector: -66.1%). Net profit margin stands at -249.2%, versus -58.7% for the average Healthcare stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

ACOG Debt, Balance Sheet, and Financial Health

Alpha Cognition Inc. has a debt-to-equity ratio of 28.0%, compared to the Healthcare sector average of 32.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 8.65x, indicating strong short-term liquidity. Total debt on the balance sheet is $0. Cash and equivalents stand at $35M.

ACOG has a beta of 0.97, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for Alpha Cognition Inc. is 31/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Alpha Cognition Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Alpha Cognition Inc. reported revenue of $7M and earnings per share (EPS) of $-1.17. Net income for the quarter was $-16M. Gross margin was 98.1%. Operating income came in at $-17M.

In FY 2025, Alpha Cognition Inc. reported revenue of $10M and earnings per share (EPS) of $-1.17. Net income for the quarter was $-21M. Gross margin was 94.1%. Operating income came in at $-23M.

In Q3 2025, Alpha Cognition Inc. reported revenue of $3M and earnings per share (EPS) of $-0.08. Net income for the quarter was $-1M. Operating income came in at $-5M.

In Q2 2025, Alpha Cognition Inc. reported revenue of $2M and earnings per share (EPS) of $-0.65. Net income for the quarter was $-10M. Gross margin was 96.7%. Operating income came in at $-6M.

Over the past 8 quarters, Alpha Cognition Inc. has demonstrated a growth trajectory, with revenue expanding from $0 to $7M. Investors analyzing ACOG stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

ACOG Dividend Yield and Income Analysis

Alpha Cognition Inc. (ACOG) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

ACOG Momentum and Technical Analysis Profile

Alpha Cognition Inc. (ACOG) has a momentum factor score of 37/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 54/100 reflects moderate short selling activity.

ACOG vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, Alpha Cognition Inc. (ACOG) ranks #164 out of 838 stocks based on the Blank Capital composite score. This places ACOG in the top quartile of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing ACOG against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full ACOG vs S&P 500 (SPY) comparison to assess how Alpha Cognition Inc. stacks up against the broader market across all factor dimensions.

ACOG Next Earnings Date

No upcoming earnings date has been announced for Alpha Cognition Inc. (ACOG) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy ACOG? — Investment Thesis Summary

Alpha Cognition Inc. presents a balanced picture with arguments on both sides. The quality score of 29/100 flags below-average profitability. The value score of 20/100 indicates premium valuation. Momentum is weak at 37/100, a headwind for near-term performance. High volatility (stability score 31/100) increases portfolio risk.

In summary, Alpha Cognition Inc. (ACOG) earns a Hold rating with a composite score of 31.9/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on ACOG stock.

Related Resources for ACOG Investors

Explore more research and tools: ACOG vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare ACOG head-to-head with peers: ACOG vs AZN, ACOG vs SLGL, ACOG vs VMD.