Detailed financial statements for Alzamend Neuro Inc (ALZN): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Alzamend Neuro, Inc., a clinical-stage biopharmaceutical company, focuses on developing various products for the treatment of neurodegenerative and psychiatric disorders. Its pipeline includes AL001, which delivers a therapeutic combination of lithium, proline, and salicylate for the treatment of Alzheimer's, bi-polar disorder, post-traumatic stress disorder, major depressive disorder, other neurodegenerative diseases, and psychiatric disorders; and ALZN002, which uses a meth...
Analysis Summary
Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.
At the current price of $1.83, ALZN has negative trailing earnings (P/E not meaningful) and an ROE of -277.71%. Market capitalisation stands at $7M.
Balance sheet quality for ALZN: current ratio of 1.3. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Research & Development | $275047 | $323403 | $3.7M | $1.1M | $1.3M | $5.2M | $7.4M | $6.5M | $1.4M | $3.6M |
| Selling, General & Admin | $1.3M | $575027 | $1.3M | $3.4M | $3.6M | $7.1M | $7.4M | $3.5M | $3.1M | $5.1M |
| Operating Expenses | $1.5M | $898430 | $5.0M | $4.4M | $5.0M | $12.3M | $14.9M | $9.9M | $4.5M | $8.8M |
| Operating Income | -$1.5M | -$898000 | -$5.0M | -$4.4M | -$5.0M | -$12.3M | -$14.9M | -$9.9M | -$4.5M | -$8.8M |
| EBITDA | -$21501 | $7341 | -$5.0M | -$4.4M | -$5.0M | -$12.3M | -$14.8M | -$9.9M | -$4.4M | -$8.7M |
| Interest Expense | 0 | 0 | 0 | 0 | $158803 | $46524 | $7701 | $10101 | $18029 | -$6619 |
| Pre-tax Income | -$1.6M | -$932000 | -$4.9M | -$4.4M | -$5.0M | -$12.4M | -$14.9M | -$9.9M | -$4.5M | -$8.8M |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | -$1.6M | -$932000 | -$4.9M | -$4.4M | -$5.0M | -$12.4M | -$14.9M | -$9.9M | -$4.5M | -$8.8M |
| EPS | $-73.59 | $-27.71 | $-111.56 | $-83.56 | $-93.78 | $-187.31 | $-205.97 | $-132.33 | $-11.32 | $-2.63 |
| EPS (Diluted) | $-73.59 | $-27.71 | $-111.56 | $-83.56 | $-93.78 | $-187.31 | $-205.97 | $-132.33 | $-11.32 | $-2.63 |
| Shares Outstanding (Diluted) | $21334 | $33622 | $43587 | $52780 | $53815 | $65997 | $72236 | $75174 | $450799 | $3.3M |
Income Statement (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Revenue | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | -$27685 | -$27685 |
| Operating Income | -$998109 | -$2.2M | -$2.9M | -$3.0M |
| EBITDA | -$970424 | -$2.2M | -$3.0M | -$3.0M |
| Net Income | -$1.0M | -$2.2M | -$2.9M | -$3.0M |
| EPS | $-0.30 | $-0.58 | $-0.74 | $-0.68 |
| EPS (Diluted) | $-0.30 | $-0.58 | $-0.74 | $-0.68 |
Balance Sheet (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Cash & Equivalents | $4976 | $545000 | $42606 | $90285 | $1.9M | $14.1M | $5.1M | $376048 | $3.9M | $710689 |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | 0 | $424351 | $285354 | $194278 | $16210 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $57293 | $2.4M | $1.5M | $1.8M | $2.9M | $14.4M | $5.8M | $455242 | $4.2M | $1.8M |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | $102909 | $79843 | $176346 | $425606 | $314866 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $132293 | $2.4M | $1.5M | $1.8M | $2.9M | $14.5M | $5.9M | $631588 | $4.6M | $2.1M |
| Accounts Payable | $125965 | $90088 | $1.1M | 0 | $503591 | $1.2M | $2.9M | $2.9M | $634761 | $1.3M |
| Short-term Debt | $591258 | 0 | $79 | 0 | $335303 | 0 | 0 | $300714 | 0 | 0 |
| Total Current Liabilities | $717223 | $96724 | $1.2M | $992306 | $899643 | $1.2M | $2.9M | $3.2M | $634761 | $1.3M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $717223 | $96724 | $1.2M | $992306 | $899643 | $1.2M | $2.9M | $3.2M | $634761 | $1.3M |
| Retained Earnings | -$1.6M | -$2.5M | -$7.4M | -$11.8M | -$16.8M | -$29.2M | -$44.1M | -$54.0M | -$58.5M | -$67.3M |
| Total Equity | -$584930 | $2.3M | $316915 | $821709 | $2.0M | $13.4M | $3.0M | -$2.6M | $4.0M | $733211 |
| Total Debt | $591258 | 0 | $79 | $63 | $335303 | 0 | 0 | $300714 | 0 | 0 |
| Net Debt | $586282 | -$545000 | -$42527 | -$90222 | -$1.6M | -$14.1M | -$5.1M | -$75334 | -$3.9M | -$710689 |
| Working Capital | -$659930 | $2.3M | $316915 | $821709 | $2.0M | $13.2M | $3.0M | -$2.8M | $3.5M | $418345 |
Balance Sheet (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Cash & Equivalents | $4.4M | $2.7M | $710689 | $7.6M |
| Total Assets | $5.1M | $4.0M | $2.1M | $8.5M |
| Total Liabilities | $717488 | $1.9M | $1.3M | $2.7M |
| Total Equity | $4.4M | $2.2M | $733211 | $5.8M |
| Total Debt | 0 | 0 | 0 | 0 |
Cash Flow (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Net Income | -$1.6M | -$931663 | -$4.9M | -$4.4M | -$5.0M | -$12.4M | -$14.9M | -$9.9M | -$4.5M | -$8.8M |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 0 | $3549 | $23066 | $50740 | $50740 | $110740 |
| Stock-based Compensation | $114409 | $218417 | $396170 | $1.8M | $2.0M | $4.4M | $3.6M | $955633 | $325108 | $707527 |
| Change in Working Capital | -$49679 | -$1.3M | $1.2M | -$299347 | -$152451 | $1.3M | $2.3M | $670666 | -$2.4M | -$113698 |
| Operating Cash Flow | -$1.4M | -$2.1M | -$1.0M | -$2.3M | -$2.7M | -$6.6M | -$8.9M | -$8.3M | -$6.6M | -$8.1M |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 | -$106458 | 0 | -$147243 | -$300000 | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$1.4M | -$2.1M | -$1.0M | -$2.3M | -$2.7M | -$6.7M | -$8.9M | -$8.4M | -$6.9M | -$8.1M |
Cash Flow (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Operating Cash Flow | -$1.2M | -$1.7M | -$2.8M | -$1.1M |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$1.2M | -$1.7M | -$2.8M | -$1.1M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $31514 | $9300 | 0 | $77199 |
Growth & Margins (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Net Income Growth (YoY) | | +40.6% | -421.7% | +9.3% | -14.4% | -145.0% | -20.4% | +33.1% | +54.6% | -94.3% |
| EPS Growth (YoY) | | +62.3% | -302.6% | +25.1% | -12.2% | -99.7% | -10.0% | +35.8% | +91.4% | +76.8% |
| Shares Change (YoY) | | +57.6% | +29.6% | +21.1% | +2.0% | +22.6% | +9.5% | +4.1% | +499.7% | +640.3% |
| FCF Growth (YoY) | | -44.8% | +49.1% | -124.4% | -15.6% | -147.8% | -32.8% | +5.7% | +18.4% | -17.5% |
| Effective Tax Rate | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF Per Share | $-66.41 | $-61.02 | $-23.98 | $-44.44 | $-50.40 | $-101.83 | $-123.53 | $-111.97 | $-15.24 | $-2.42 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $21000 | $33000 | $43000 | $52000 | $53000 | $65000 | $72000 | $75000 | $398000 | $3.3M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | -277.71% |
| Return on Invested Capital | -1195.68% |
| Return on Assets | -421.88% |
| Gross Margin | 0.00% |
| Operating Margin | 0.00% |
| Net Margin | 0.00% |
Financial Health
| Debt / Equity | 0.00 |
| Current Ratio | 1.31 |
| Piotroski F-Score | 1 |
| Altman Z-Score | -57.29 |
Key Ratios (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | -247.66 | -657.70 | -163.37 | -218.11 | -194.34 | -7.35 | -3.48 | -0.48 | -0.52 | -0.43 |
| P/B | -654.31 | 259.31 | 2472.82 | 1153.33 | 479.86 | 6.70 | 16.96 | -1.85 | 0.60 | 5.19 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |