08:54 AM EDT, 04/04/2024 (MT Newswires) -- Alpha Cognition Inc. ( ACOGF ) , a biopharmaceutical company, overnight Wednesday reported a fourth quarter comprehensive net loss of US$5.8 million, or $(0.05) per basic and diluted share, compared with a comprehensive net loss of $3.24 million, or $(0.05) per share, for the prior year period.

Cash and cash equivalents at December 31, 2023 were $1.5 million, including $0.1 million in restricted cash.

"We recently achieved a significant milestone with the acceptance of our New Drug Application by the FDA in December with a product approval date in July of this year. Our team has worked in the last quarter to manage the regulatory process and engage with regulatory reviewers in a timely manner. We believe that ALPHA-1062 will offer a meaningful differentiated therapy for patients with Alzheimer's dementia," said Michael McFadden, Chief Executive Officer.

ALPHA-1062 is the company's lead asset and is under review by the FDA for mild-to-moderate Alzheimer's Disease.