NEW YORK, June 4, 2026, 17:03 EDT
Alzamend Neuro Inc. shares slipped late Thursday in U.S. trading. The stock trailed gains in other biotech names as investors looked for an upcoming clinical update from the small drug developer and questioned how it will cover funding requirements.
The Nasdaq-listed stock was last at $1.14, off 4 cents. Shares moved in a $1.11 to $1.14 range, with about 14,000 shares traded at last check. The SPDR S&P Biotech ETF, which tracks the wider biotech sector, was in the green, which points to the drop being tied to the stock and not the group as a whole.
Alzamend isn’t moving on sales, since there are none. The shares are trading on expectations for AL001, its candidate for delivering lithium in neuropsychiatric and neurodegenerative disease. The company’s press release page still shows April 7 as the last update, so traders haven’t had much new from Alzamend in the last day or two to go on.
Stocks were uneven in the U.S. The S&P 500 rose 0.41% and the Dow gained 1.73%, based on Reuters market data. The Nasdaq Composite slipped 0.09%, weighed by losses in chip stocks.
Alzamend said April 7 an exploratory brain-imaging study in six healthy volunteers indicated AL001 could have a different brain-chemistry profile than standard lithium carbonate. The pharmacodynamic numbers—looking at how the drug works in the body—still need statistical backing from bigger studies. CEO Stephan Jackman said Alzamend aims to confirm the results in “larger, adequately powered studies.” Alzamend Neuro, Inc.
The March update was more straightforward for trading. The company reported AL001 hit bioequivalence, meaning the drug had similar blood exposure to an approved treatment. It also saw higher lithium levels in the brain versus lithium carbonate. Topline data from a Phase II study in bipolar disorder are due in the third quarter of 2026. Jackman called it a “pivotal advancement.” Alzamend Neuro, Inc.
Alzamend’s latest quarterly filing showed no revenue for the last quarter or for the nine months ended Jan. 31, and $2.7 million in cash. The company said it doesn’t have enough cash to fund operations for the next year. It warned about “substantial doubt” over its ability to keep going as a business, the standard warning in filings when a company may need more money or help to operate.
Listing overhang is in play. A March 20 filing said Nasdaq told Alzamend its stockholders’ equity fell under the $2.5 million mark needed to stay on the Nasdaq Capital Market. If Nasdaq goes for the company’s plan, it could have until Sept. 16 to get back in compliance, according to the filing.
Investors cleared the way for management to deal with the share count at the April annual meeting. Shareholders signed off on a possible reverse stock split, which would combine shares to increase the stock price per share but leave the company’s overall value the same. The approved range is for a split ratio from 1-for-2 up to 1-for-10, to be used any time before April 16, 2027.
The market is split. Big Alzheimer’s players like Eisai, Biogen, and Eli Lilly have approved anti-amyloid antibody drugs that go after amyloid beta in the brain. Alzamend is at an earlier stage. Its AL001 is a lithium formulation, and ALZN002 uses a cell-based vaccine to target beta-amyloid.
Alzamend’s stock doesn’t have much analyst coverage. According to the company’s investor-relations site, Edward M. Woo at Ascendiant Capital Markets and Michael Okunewitch at Maxim Group are listed as covering analysts. With so few analysts watching, small-cap biotech stocks like this one can swing hard on news tied to data, filings or funding.
Downside risk is clear here. If the bipolar trial misses the early lithium-delivery findings, or if the company raises cash in a way that dilutes shareholders, or if Nasdaq compliance remains an issue, the stock may keep slipping even with the science still in play. The real test is still coming, not in Thursday’s action.
