Alzamend Neuro Announces Reverse Stock Split

Core Viewpoint - Alzamend Neuro, Inc. has announced a one-for-nine reverse stock split to comply with Nasdaq's minimum bid price requirement and to enhance its market position [1][2]. Company Overview - Alzamend Neuro is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer's disease, bipolar disorder, major depressive disorder, and post-traumatic stress disorder [4]. - The company is developing two novel therapeutic drug candidates: AL001, which utilizes a patented ionic cocrystal technology for lithium delivery, and ALZN002, a cell-based therapeutic vaccine aimed at combating Alzheimer's by removing beta-amyloid from the brain [4]. Reverse Stock Split Details - The reverse stock split will be effective on May 12, 2025, at 12:01 a.m. Eastern Time, and will adjust the trading of the company's common stock on Nasdaq under the existing symbol "ALZN" [1]. - The number of shares outstanding will decrease from 7,208,591 to approximately 800,954 after the split [2]. - The par value of the common stock will remain unchanged at $0.0001 per share, and no fractional shares will be issued; instead, stockholders entitled to fractional shares will receive cash payments [2][3].