Alpha Cognition Announces the Resignation of Chief Medical Officer Cedric O’Gorman, MD

Rhea-AI Summary

Alpha Cognition Inc. (ACOGF) announced the resignation of Chief Medical Officer, Cedric O’Gorman, who is leaving to pursue other opportunities. The company is actively seeking a replacement while maintaining strong consultant relationships for its upcoming NDA filing for ALPHA-1062, targeting Alzheimer’s Disease. CEO Michael McFadden praised Dr. O’Gorman’s contributions, particularly in achieving positive results for ALPHA-1062. The NDA filing is expected in 2023, indicating a significant step forward for the company in addressing neurodegenerative disorders.

Positive

• NDA filing for ALPHA-1062 expected in 2023, indicating potential for market entry.
• Positive pivotal results achieved for ALPHA-1062 under Dr. O’Gorman's leadership.

Negative

• Resignation of CMO raises concerns about management continuity during critical NDA filing phase.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Alpha Cognition Inc. (TSX-V: ACOG)(OTCQB: ACOGF)(“Alpha Cognition”, or the “Company”), a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating neurodegenerative disorders, today announced that the company's Chief Medical Officer (CMO), Cedric O’Gorman, MD has resigned to pursue other opportunities. The company has undertaken a search for a replacement for Dr. O’Gorman and will maintain its strong relationships with consultants who are assisting the company with its NDA filing.

"We would like to thank Cedric for the outstanding contributions he has made to Alpha Cognition during his time as CMO, in particular the expertise he provided in delivering positive pivotal results for ALPHA-1062, and in preparing for the NDA filing for ALPHA-1062. Thanks to Cedric’s leadership, the company is in a great position to file the NDA for ALPHA-1062 for the treatment of Alzheimer’s Disease in 2023," said Michael McFadden, Chief Executive Officer.

"I would like to thank the board and management team of Alpha Cognition for making my time at the company so rewarding," said Dr. O’Gorman. "The data generated over the past twelve months have been exceptional and have attracted keen interest from the scientific community. This is a significant step forward given the challenging history of Alzheimer’s Disease. I wish all the best to this amazingly talented and dedicated team, and I am confident that the Alpha Cognition management team will successfully deliver long term value for the company."

Neither TSX Venture Exchange (the “TSX-V”), OTC Markets Group, nor the TSX-V’s Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements

This news release is not, and under no circumstances is to be construed as, an advertisement or a public offering of securities. No securities commission or similar authority in Canada or in any other jurisdiction has reviewed or in any way passed upon this news release or the merits of the securities described herein and any representation to the contrary is an offence.

This news release includes forward-looking statements within the meaning of applicable 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 business strategy, market size, potential growth opportunities, capital requirements, clinical development activities, the timing and results of clinical trials, regulatory submissions, potential regulatory approval and commercialization of the technology. Although the Company believes that we 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 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.

This news release may also contain estimates and other statistical data made by independent parties and by the Company relating to share value and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230106005028/en/

Alpha Cognition

Lauren D’Angelo

info@alphacognition.com

https://www.alphacognition.com/

Source: Alpha Cognition Inc.

FAQ

What prompted the resignation of CMO Cedric O’Gorman at Alpha Cognition?

Cedric O’Gorman resigned to pursue other opportunities, as indicated in the recent press release.

What are the implications of Dr. O’Gorman's resignation for Alpha Cognition?

The resignation raises concerns about management continuity, especially with the upcoming NDA filing for ALPHA-1062.

When is the NDA filing for ALPHA-1062 expected?

The NDA filing for ALPHA-1062 is anticipated in 2023.

What achievements did Cedric O’Gorman contribute during his tenure?

Dr. O’Gorman played a key role in delivering positive pivotal results for ALPHA-1062 and preparing for its NDA filing.

How is Alpha Cognition addressing the CMO vacancy?

Alpha Cognition is actively searching for a replacement for Cedric O’Gorman while maintaining strong relationships with consultants.