Shares of Alzamend Neuro Inc ( ALZN ) surged 84% to $6.14 on Thursday morning following the announcement that the first patient has been dosed in the company’s Phase II clinical trial of AL001.

What To Know: The study, conducted in collaboration with Massachusetts General Hospital, aims to assess AL001's lithium delivery performance against a standard lithium carbonate product in healthy individuals. Results are expected by year-end.

Alzamend Neuro ( ALZN ) says AL001 is the company’s proprietary formulation designed to deliver lithium more efficiently to the brain while minimizing systemic side effects. The company says AL001 could significantly improve patient care.

Earlier preclinical studies in mice demonstrated that AL001 achieved higher brain lithium levels with lower blood concentrations, suggesting a safer and more effective profile.

This trial marks a critical step in Alzamend's efforts to bring a next-generation lithium therapy to patients suffering from Alzheimer's, bipolar disorder, major depressive disorder,and PTSD, conditions affecting over 43 million Americans.

CEO Stephan Jackman highlighted the potential of AL001 to transform psychiatric and neurodegenerative care.

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How To Buy ALZN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Alzamend Neuro’s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, ALZN has a 52-week high of $135.54 and a 52-week low of $3.06.