Redeye provides a research update following the Q1 report published by Alzinova earlier today. The company reported a slightly higher cash burn than we estimated. However, an elevated OPEX was anticipated as Alzinova continues its preparations ahead of the upcoming phase II trial. Furthermore, the company recently followed up its positive phase Ib clinical data by strengthening its cash position through a rights issue. We believe that this extends the company’s financial runway as Alzinova will be looking to secure a licensing deal for ALZ-101 ahead.

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