$ACOG

Alpha Cognition Inc.

CIK:0001655923|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 6,092,974	$ 1,657,687	$ 9,626,772	$ 4,586,341
Cost of Revenues
Total cost of revenues	391,057	203,858	668,220	1,045,786
Gross Profit	5,701,917	1,453,829	8,958,552	3,540,555
Operating Expenses
Research and development	2,008,870	406,140	3,105,175	806,556
Selling, general and administrative expenses	11,449,054	9,494,966	21,705,611	14,586,238
Total operating expenses	13,457,924	9,901,106	24,810,786	15,392,794
Loss from operations	(7,756,007)	(8,447,277)	(15,852,234)	(11,852,239)
Other income (expenses)
Interest income, net	380,735	425,670	886,791	887,539
Grant income				71,095
Loss on change in fair value of warrant liabilities	(1,414,267)	(5,172,091)	(290,195)	(4,024,209)
Loss on foreign currency contracts	(42,251)		(42,251)
Other income (expenses)	42,050	(5,530)	30,131	(6,487)
Total other income (expenses)	(1,033,733)	(4,751,951)	584,476	(3,072,062)
Net loss and comprehensive loss	$ (8,789,740)	$ (13,199,228)	$ (15,267,758)	$ (14,924,301)
Weighted average shares outstanding, basic	21,774,104	16,020,702	21,768,115	16,020,015
Net loss per share, basic	$ (0.4)	$ (0.82)	$ (0.7)	$ (0.93)
Adjusted net loss, diluted	$ (8,789,740)	$ (13,199,228)	$ (15,629,682)	$ (14,924,301)
Weighted average outstanding stock, diluted	21,774,104	16,020,702	21,879,362	16,020,015
Net loss per share, diluted	$ (0.4)	$ (0.82)	$ (0.71)	$ (0.93)
Product, net
Revenue
Total revenue	$ 6,041,506	$ 1,576,411	$ 9,545,327	$ 1,923,340
Licensing
Revenue
Total revenue	51,468	81,276	81,445	2,663,001
Cost of product sales, excluding amortization of intangible assets
Cost of Revenues
Total cost of revenues	277,466	105,354	526,319	131,895
Cost of licensing revenue
Cost of Revenues
Total cost of revenues	39,362	93,118	62,285	903,118
Amortization of intangible assets
Cost of Revenues
Total cost of revenues	$ 74,229	$ 5,386	$ 79,616	$ 10,773

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows used in operating activities
Net loss	$ (15,267,758)	$ (14,924,301)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	133,356	18,896
Accrued expenditures for government grant		63,051
Change in Fair Value of Warrant Liabilities	290,195	4,024,209
Change in fair value of bonus rights liability	(21,799)	85,068
Change in fair value for foreign currency contracts	42,251
Loss on disposal of equipment		18,000
Stock-based compensation – equity-classified options	2,855,328	2,519,458
Stock-based compensation – liability-classified CAD options	(331,458)	2,812,291
Changes in non-cash operating working capital items:
Accounts receivable, net	(1,238,820)	(1,813,696)
Inventories	(1,271,321)	(260,719)
Prepaid expenses and other current assets	(1,068,771)	(1,457,016)
Accounts payable and accrued liabilities	(2,722,158)	368,533
Deferred income	(55,753)	362,450
Net cash used in operating activities	(18,656,708)	(8,183,776)
Cash flows used in investing activities
Acquisition of equipment	(99,892)	(71,585)
Acquisition of intangible asset	(5,906,702)
Net cash used in investing activities	(6,006,594)	(71,585)
Cash flows provided by financing activities
Proceeds from exercises of options	800
Proceeds from exercises of warrants		25,823
Repayment of promissory notes		(911,463)
Proceeds received from restricted government grant		174,675
Amounts paid from restricted government grant funds		(134,146)
Net cash provided by financing activities	800	(845,111)
Change in cash, cash equivalents, and restricted cash during the period	(24,662,502)	(9,100,472)
Cash, cash equivalents, and restricted cash beginning of period	66,105,189	48,564,082
Cash, cash equivalents, and restricted cash end of period	41,442,687	39,463,610
Supplemental Disclosure
Cash paid for interest		4,894
Supplemental non-cash disclosures
Reallocation of fair value of share options upon exercise	60,211
Reclassification of CAD option liability to equity	$ 2,843,204

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 41,384,287	$ 66,046,789
Restricted cash	58,400	58,400
Accounts receivable, net	5,474,956	4,236,136
Inventory	6,394,817	5,123,496
Prepaid expenses and other current assets	4,614,222	3,545,451
Total current assets	57,926,682	79,010,272
Equipment, net	374,692	328,540
Intangible assets, net	6,218,509	391,423
Total assets	64,519,883	79,730,235
Current liabilities
Accounts payable and accrued liabilities	6,237,986	8,976,904
Current deferred income	103,192	153,171
Other current liabilities	71,540
Total current liabilities	6,412,718	9,130,075
Deferred income	30,170	35,944
Option liability		3,174,662
Warrant liabilities	5,080,530	4,812,198
Other long-term liabilities	34,716	47,181
Total liabilities	11,558,134	17,200,060
Stockholders’ equity
Common stock, no par value, unlimited shares authorized, 21,774,104 and 21,742,104 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	133,952,684	133,891,673
Class B preferred stock, no par value, unlimited shares authorized, 316,655 shares issued and outstanding as of June 30, 2026, and December 31, 2025, respectively	62	62
Additional paid-in capital	31,487,837	25,849,516
Accumulated other comprehensive loss	(104,301)	(104,301)
Accumulated deficit	(112,374,533)	(97,106,775)
Total stockholders’ equity	52,961,749	62,530,175
Total liabilities and stockholders’ equity	$ 64,519,883	$ 79,730,235