Alpha Cognition Announces Change of Officer

Rhea-AI Summary

Alpha Cognition Inc. (CSE: ACOG) (OTCQB: ACOGF), a biopharmaceutical company focused on neurodegenerative disorders, has announced changes in its financial leadership. Don Kalkofen has resigned as Chief Financial Officer to pursue other opportunities. The company's CEO, Michael McFadden, expressed gratitude for Kalkofen's contributions over the past two years, highlighting significant progress including the approval of ZUNVEYL for mild-to-moderate Alzheimer's Disease.

Alpha Cognition has appointed Jay Yoo to assume interim accounting leadership responsibilities. Yoo brings 16 years of experience as a CPA and CFA, with expertise in accounting, finance, and SEC filings. The company expects to announce a new permanent Accounting and Finance leader later in the quarter, maintaining its outsourced finance model to ensure continuity in accounting and regulatory filings.

Positive

• Approval of ZUNVEYL for treatment of mild-to-moderate Alzheimer's Disease
• Planned launch of ZUNVEYL in early 2025
• Appointment of experienced interim accounting leader Jay Yoo

Negative

• Resignation of Chief Financial Officer Don Kalkofen

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Alpha Cognition Inc. (CSE: ACOG) (OTCQB: ACOGF) (“Alpha Cognition” or the “Company”), a biopharmaceutical company committed to developing novel therapies for debilitating neurodegenerative disorders, announces that Don Kalkofen has resigned as the Chief Financial Officer of the Company to pursue other opportunities.

“On behalf of Alpha Cognition, I want to thank Don for his contributions to the Company over the past two years,” said Michael McFadden, Chief Executive Officer of the Company. “During his service, Alpha Cognition has made significant strides in its transformation including approval of ZUNVEYL for the treatment of mild-to-moderate Alzheimer’s Disease and has positioned the Company to launch this innovative treatment in early 2025. The Company’s outsourced model for the finance function will assure that consistency and continuity of day-to-day accounting and regulatory filings continues with minimal disruption.”

The Company is pleased to announce that Jay Yoo will assume interim accounting leadership responsibilities for the Company. Jay has sixteen years of experience as a CPA, CFA, and has led accounting and finance positions, including responsibilities for SEC filings, at multiple companies during the last seven years. The Company is completing its search for a new Accounting and Finance leader and expects to announce the new leader later in the quarter.

About Alpha Cognition Inc.

Alpha Cognition Inc. is a commercial stage, biopharmaceutical company dedicated to developing treatments for patients suffering from neurodegenerative diseases, such as Alzheimer’s disease and Cognitive Impairment with mild Traumatic Brain Injury (“mTBI”), for which there are currently no approved treatment options.

ZUNVEYL is a patented drug approved as a new generation acetylcholinesterase inhibitor for the treatment of Alzheimer’s disease, with expected minimal gastrointestinal side effects. 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. ALPHA-1062 is also being developed in combination with memantine to treat moderate to severe Alzheimer’s dementia, and as an intranasal formulation for Cognitive Impairment with mTBI.

This news release includes forward-looking statements within the meaning of applicable United States and Canadian securities laws. Except for statements of historical fact, any information contained in this news release may be a forward‐looking statement that reflects the Company’s current views about future events and are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward‐looking statements by the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “target,” “seek,” “contemplate,” “continue” and “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward‐looking statements may include statements regarding the Company’s clinical development activities, the timing and results of clinical trials, and timing for appointing a permanent CFO. Although the Company believes to have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. The Company cannot assure that the actual results will be consistent with these forward-looking statements. These forward-looking statements are subject to certain risks, including risks regarding our ability to raise sufficient capital, including bridge funding, to implement our plans to commercialize ZUNVEYL, risks regarding the efficacy and tolerability of ZUNVEYL, risks related to ongoing regulatory oversight on the safety of ZUNVEYL, risk related to market adoption of ZUNVEYL, risks related to the Company’s intellectual property in relation to ZUNVEYL, risks related to the commercial manufacturing, distribution, marketing and sale of ZUNVEYL, risks related to product liability and other risks as described in the Company’s filings with Canadian securities regulatory authorities and available at www.sedarplus.com and the Company’s filings with the United States Securities and Exchange Commission (the “SEC”), including those risk factors under the heading “Risk Factors” in the Company’s Form S-1 registration statement as filed with the SEC on June 14, 2024 and available at www.sec.gov. These forward‐looking statements speak only as of the date of this news release and the Company undertakes no obligation to revise or update any forward‐looking statements for any reason, even if new information becomes available in the future, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241003283025/en/

For further information:

Michael McFadden, CEO

Tel: 1-858-344-4375

info@alphacognition.com

Source: Alpha Cognition Inc.

FAQ

What changes in leadership did Alpha Cognition (ACOGF) announce?

Alpha Cognition announced the resignation of Don Kalkofen as Chief Financial Officer and the appointment of Jay Yoo as interim accounting leader.

When does Alpha Cognition (ACOGF) plan to launch ZUNVEYL?

Alpha Cognition plans to launch ZUNVEYL, its treatment for mild-to-moderate Alzheimer's Disease, in early 2025.

Who is taking over the interim accounting leadership at Alpha Cognition (ACOGF)?

Jay Yoo, a CPA and CFA with 16 years of experience, is assuming interim accounting leadership responsibilities at Alpha Cognition.

What is ZUNVEYL, and what has been approved for Alpha Cognition (ACOGF)?

ZUNVEYL is Alpha Cognition's treatment for mild-to-moderate Alzheimer's Disease that has been approved for use.