Alpha Cognition Inc. Common Stock (ACOG)

FairStock Score: 22/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn consistent profits and sell below intrinsic value. Alpha Cognition does not yet qualify. In fiscal Q2 2026, the quarter ended 2026-06-30, it reported revenue of $6.1M and a net loss of $8.8M, or diluted EPS of -$0.40. That revenue is real progress from $1.7M in fiscal Q2 2025, the quarter ended 2025-06-30, and the loss narrowed from -$13.2M. Sequentially, fiscal Q1 2026 revenue was $3.5M, so sales are moving in the right direction. But the company still lost $6.5M in that quarter and $8.8M in Q2. For full-year fiscal 2025, period ended 2025-12-31, revenue was $10.2M and net loss was $20.7M, or -$1.18 per diluted share. Fiscal 2024 and 2023 had no revenue reported and net losses of $14.8M and $13.8M. The latest quarter's margin was -144.26%, and trailing free cash flow was -$37.1M, a -19.3% FCF yield on the $191.6M market cap. FairStock's P/B is 3.62 at the 2026-10-13 close, and P/E is -6.67; ROE is -49.53% and ROCE is -30.39%. The Altman Z-score of 8.17 offers some balance-sheet comfort, but Piotroski is only 4/9. There is no Lynch category because losses persist. A beta of 2.23 tells me the stock is volatile. The scientific and commercial progress may be promising, but I see no durable moat or reliable earning power yet. Price depends on future profits that are not here. I would demand a much larger margin of safety.

In plain English: Alpha Cognition is a small drug company developing treatments for brain diseases such as Alzheimer's. It is not yet profitable and has lost money in each of the last three years, though sales are appearing and losses narrowed in the latest quarter. At $8.80, the price looks expensive compared with current sales and losses.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer