ZUNVEYL$(R)$ net product revenue increased approximately 71% quarter-over-quarter to $6.0 million in the second quarter of 2026.
Bottles dispensed increased approximately 37% quarter-over-quarter to 8,294, with monthly demand reaching 2,997 in June.
Quarterly prescribers increased approximately 26% to 1,347 and repeat prescribers increased approximately 29% to 1,024, with approximately 76% prescribing in multiple months.
Cash and cash equivalents totaled $41.4 million as of June 30, 2026, supporting the Company's continued target of operating profitability in 2027
Company to host conference call and webcast today, August 13, at 4:30 p.m. ET.
VANCOUVER, British Columbia & DALLAS--(BUSINESS WIRE)--August 13, 2026--
Alpha Cognition Inc. (NASDAQ: ACOG) ("Alpha Cognition", "ACI", or the "Company"), a biopharmaceutical company developing novel therapeutics for debilitating neurodegenerative disorders, today reported financial results for the second quarter ended June 30, 2026, and provided a business update.
"We are pleased with the continued commercial adoption of ZUNVEYL during the second quarter," said Michael McFadden, Chief Executive Officer of Alpha Cognition. "Our commercial team continues to execute effectively, expanding the prescriber base while driving deeper utilization within existing accounts. We are particularly encouraged by the growth in repeat prescribers, long-term care facility adoption and monthly prescription demand, which we believe reflects increasing clinical confidence in ZUNVEYL. Its differentiated profile and growing real-world utilization provide a strong foundation for continued growth."
Mr. McFadden continued, "As we move through the second half of 2026 and into 2027, we will remain focused on further strengthening commercial execution, supporting appropriate patient access and maintaining disciplined capital allocation."
ZUNVEYL Commercial Performance
-- Net ZUNVEYL Revenue: Revenue increased to approximately $6.0 million in
the second quarter of 2026, representing approximately 71% growth
compared to first quarter 2026 revenue of $3.5 million.
-- Bottles Dispensed: Dispensed 8,294 bottles during Q2 2026, compared
with 6,054 in Q1 2026, representing approximately 37%
quarter-over-quarter growth. Monthly prescription demand grew throughout
the quarter to 2,997 in June, reflecting consistent commercial momentum.
-- Expanding Prescriber Base: Q2 2026 prescribing healthcare professionals
increased to 1,347, compared with 1,060 in Q1 2026, representing
approximately 26% sequential growth. Cumulative prescribing healthcare
professionals reached 1,908 launch-to-date, compared with 1,484 at March
31, 2026, reflecting continued expansion of the Company's prescriber
base.
-- Repeat Prescribers: Repeat prescribers increased to 1,024, compared
with 795 in Q1 2026, representing 29% sequential growth. Approximately
76% of all Q2 prescribers generated prescriptions in multiple months
during the quarter, demonstrating growing prescribing consistency and
continued utilization across the prescriber base.
-- Commercial Reach: Long-term care facility penetration continued to
expand, with 1,095 facilities generating prescriptions during Q2 2026.
Recent and Upcoming Business, Clinical, and Operational Highlights
-- Reported positive topline results from BEACON, a real-world
effectiveness study evaluating provider-reported cognitive, behavioral,
functional, and tolerability outcomes among long-term care residents with
mild to moderate Alzheimer's disease ("AD") who were receiving ZUNVEYL.
-- Initiated CONVERGE, a 400-patient retrospective data analysis
evaluating tolerability, dosing, polypharmacy, and adverse events in
long-term care, in April 2026 as planned. This study is designed to
provide insights into real-world use in complex patient populations,
including polypharmacy, which is a key consideration for both prescribers
and payers. The Company continues to expect topline data for CONVERGE in
Q3 2026.
-- Initiated RESOLVE, a Phase 4 interventional trial in AD patients with
behaviors that will evaluate ZUNVEYL's effect on tolerability, cognitive
and behavioral outcomes, and caregiver burden, with sites selected,
activated, and initial patient enrollment underway. The study is expected
to be completed in Q2 2027 and expands the Company's evidence base into
the outpatient setting, representing a significant long-term commercial
opportunity.
-- Continued to advance the sublingual development program toward the
clinic in 2027. The Company believes this formulation, if approved, would
provide a disruptive treatment option for AD patients with dysphagia or
severe swallowing difficulties who currently have limited treatment
options for medication treatment
Second Quarter 2026 Financial Results
-- Revenues: Revenue for the second quarter of 2026 was approximately $6.0
million, compared to $3.5 million for the first quarter of 2026 primarily
due to an increase in sales volume.
-- Cost of Product Sales: Cost of ZUNVEYL Product Sales, including
amortization of intangible assets, for the second quarter of 2026 was
approximately $352 thousand, compared to $111 thousand for the same
period last year. Gross margin increased slightly to 94% for the second
quarter of 2026 compared to 93% in the same quarter last year.
-- Research and Development (R&D): R&D expenses for the second quarter
were approximately $2.0 million compared to $406 thousand in the
comparable period in 2025, reflecting continued advancement of the BEACON
study, and RESOLVE clinical trial, which initiated during the first
quarter and is actively enrolling.
-- Sales, General & Administrative (SG&A): SG&A expenses for the three
months ended June 30, 2026 were approximately $11.5 million compared to
$9.5 million for the same period in 2025, primarily driven by commercial
activities supporting the launch and expansion of ZUNVEYL, partially
offset by cost-containment initiatives and operational efficiencies.
-- Operating Loss: Total operating expenses for Q2 2026 were approximately
$13.5 million, resulting in an operating loss of approximately $7.8
million. This was compared to total operating expenses of $9.9 million
and a net loss of $8.4 million for the same period last year. The
increase in operating expenses reflects deliberate investment in
commercial infrastructure, payer engagement, and clinical programs. These
investments are aligned with driving long-term revenue growth and market
expansion.
-- The Company is reducing it's full-year 2026 R&D and SG&A expense
guidance to $50--$54 million.
-- Net Loss: Net loss for the second quarter of 2026 was approximately
$8.8 million, or $(0.40) per share, compared with $13.2 million, or
$(0.82) per share, in the comparable prior-year period.
-- Cash Position: Cash, cash equivalents and short-term investments
totaled approximately $41.4 million as of June 30, 2026. The Company
continues to manage expenditures prudently and believes its current
resources support execution of its strategic commercial and development
priorities.
Conference Call Information
Alpha Cognition will host a conference call and webcast today, August 13 at 4:30 p.m. Eastern Time. To access the live conference call by phone, dial 877-407-9039 or 201-689-8470.
The live audio webcast will be accessible at https://viavid.webcasts.com/starthere.jsp?ei=1767388&tp_key=54be15fdaf. A replay of the call will be available three hours following the call via the Events section of the Alpha Cognition website.
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.
INDICATION AND USAGE
ZUNVEYL is a cholinesterase inhibitor indicated for the treatment of mild to moderate dementia of the Alzheimer's type in adults.
IMPORTANT SAFETY INFORMATION
CONTRAINDICATIONS
ZUNVEYL is contraindicated in patients with known hypersensitivity to benzgalantamine, galantamine, or to any inactive ingredients in ZUNVEYL. Serious skin reactions have occurred.
WARNINGS AND PRECAUTIONS
Serious Skin Reactions: Serious skin reactions (Stevens-Johnson syndrome and acute generalized exanthematous pustulosis) have been reported in patients receiving galantamine (the active metabolite of ZUNVEYL tablets). If signs or symptoms suggest a serious skin reaction, use of this drug should not be resumed, and alternative therapy should be considered.
Anesthesia: See Drug Interactions Section
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