Alpha Cognition Inc.

Greetings and welcome to the Alpha Cognition Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. Should anyone require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Henry Du, Interim Chief Financial Officer, Vice President of Accounting and Finance. Thank you, you may begin.

Thank you, Satji. Good afternoon, everyone, and thank you for joining us today for Alpha Cognition's second quarter 2025 Financial Results Conference Call. This morning, the company issued a press release announcing these results. On the call with me today are Alpha Cognition Chief Executive Officer, Michael McFadden, and Chief Operating Officer, Lauren D'Angelo. Today's call is being made available via the Investors section of the company's website at .alphacognition.com. During the course of this call, the management may make certain forward-looking statements regarding future events and the company's future performance. These forward-looking statements reflect Alpha Cognition's current perspective on existing trends and information. Any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those noted in the Risk Factor section of the company's latest SEC filings. The actual results may differ materially from those projected in these forward-looking statements. For the benefit of those of you who may be listening to the replay, this call is being held and recorded on August 14th, 2025. Since then, the company may have made additional announcements related to the topics discussed. Please reference the company's most recent press releases and current filings with the SEC. Alpha Cognition declines any obligation to update these forward-looking statements, except as required by applicable securities laws. I'll now turn the call over to Michael.

Thank you, Henry. Good afternoon, everyone. Thanks for taking the time to join us on today's call. Today marks an exciting milestone for our company as it marks our first quarter of earnings following the commercial launch of Zunval for the treatment of mild and moderate Alzheimer's disease. The second quarter of 2025 was characterized by a successful commercial launch of Zunval, engagement in the long-term care segment of our market, advances with payers, progress with our business development partner, and the initiation of publications highlighting Zunval data and the market opportunity before us. During the quarter, the company made substantial progress on our commercial launch. The sales and marketing team made contacts with over 3,700 HCPs in the long-term care market. We saw prescriptions written in over 300 nursing homes. We saw duplicative prescriptions written in 65% of these nursing homes, which we believe is a strong indicator of product trial. We expect new and duplicative home numbers to rise significantly in the coming quarters. Regarding medical progress, Zunval appears to be performing well with anecdotal reports of cognitive improvement, behavioral reduction, and continued limited reports of adverse events. Our medical team has five abstracts that have been accepted for publication, with three presentations made at AAIC in July. Additionally, we anticipate seven additional abstracts to be submitted for publication or presentation at future medical meetings in the long-term care segment. Regarding an update on research and development, we continue to advance our sublingual formulation and anticipate formulation and tasting work to be completed in Q1 of 2026. The company plans to run a comparative PK study versus their tablet and intranasal formulations, and we will use this data as a basis for submission of an IND in the first half of 2026. The significance of this formulation is it can be used for patients with Alzheimer's who have dysphasia or aphasia, which is difficulty swallowing, or the inability to swallow tablets or capsules. Our estimates are that 20% of Alzheimer's patient populations suffer from this malady, and they currently have the option of a patch formulation, or their caregiver must grind a tablet or mix capsule contents and applesauce or something similar to deliver their medicine. We believe if ultimately approved, the sublingual formulation will displace the current options for a majority of patients. Further in research and development, the company's bomb blast preclinical study with Alpha 1062 concluded in late Q2. This was a two-part study funded with the Department of Defense grant and in collaboration with the US Department of Veterans Affairs and the Seattle Institute of Biomedical and Clinical Research. The conclusions of part one of the study demonstrated that Alpha 1062 administration reduced levels of neuroinflammation and neuropathology that occur after a blast trauma. The second part of the study concluded that Alpha 1062 administration reduced brain levels of three toxic forms of the protein Tau. One of the forms, Tau-217, has been suggested to identify patients at greater risk of long-term cognitive decline. An additional form, Tau-231, is elevated in early Alzheimer's disease and in TBI. These toxic forms of Tau suggest a potential role for Alpha 1062 in the treatment of TBI. Additional benefits were shown that Alpha 1062 reduced numbers of myeloid cells, which play a critical role in neuroinflammation and tissue repair, as well as the number of astrocytes, which regulate neurotransmitters like glutamate and GABA, which support neuronal health. These changes are consistent with reduced neuroinflammation following Alpha 1062 administration. Regarding business development, the company made significant progress with our first XUS partner, CMS Pharmaceuticals, who's representing Zumbel R&D and distribution in China and greater Asia. The company heard from Chinese regulatory authorities they've accepted Zumbel application for review, which represents the milestone for CMS and the Alpha Cognition team. Additionally, our partner's on track to file in four additional countries by the end of 2025, which keeps us on track to generate XUS revenues in the latter part of 2026. The company continues to manage expenses judiciously while preparing to capitalize on emerging opportunities in the long-term care market. Chief among these is optimally positioning Zumbel, which has clinically meaningful benefits across both cognitive and behavioral symptoms associated with Alzheimer's disease. These effects are consistent with the product label as multiple studies have shown Zumbel to improve behavioral symptoms frequently observed in patients with mild to moderate Alzheimer's disease. I'll ask Lauren to discuss our commercial progress momentarily, but first I'll turn the call over to Henry to speak to the financials for the company.