Stonegate Capital Partners has updated its coverage on Alpha Cognition Inc. (NASDAQ: ACOG), focusing on the company's progress with ZUNVEYL, its treatment for Alzheimer's disease. The update highlights that Alpha Cognition exited FY25 with ZUNVEYL showing increasingly durable traction in the long-term care (LTC) market. Fourth-quarter 2025 net product revenue reached $2.5 million, contributing to a total FY25 revenue of $10.2 million, which included $6.8 million from ZUNVEYL sales. More importantly, demand indicators continued to inflect, with bottles dispensed rising 62% quarter-over-quarter to 4,941, and December alone reaching a record 1,859 bottles.
Repeat ordering remained strong, supporting management's view that ZUNVEYL is moving beyond early trial use and becoming more embedded in facility treatment protocols. Key takeaways from the announcement include that ZUNVEYL adoption is becoming durable, with 4Q25 sales hitting $2.5 million and bottles dispensed rising 62% quarter-over-quarter. LTC traction is strengthening with repeat behavior: 729 ordering homes, 82% repeat orders, and 865 prescribers with 69% repeat writers support protocol adoption. Additionally, ACOG is funded to keep scaling commercialization, having ended FY25 with $66.0 million in cash, providing runway into 2027, and expects continued sequential sales growth in 2026.
For more details, the full announcement can be viewed here. Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Its affiliate, Stonegate Capital Markets (member FINRA), offers a full spectrum of investment banking services for public and private companies.
