Alpha Cognition Inc. (NASDAQ: ACOG) reported total revenue of $10.2 million for fiscal year 2025, driven by sales of its Alzheimer's treatment ZUNVEYL, according to the company's financial results released March 26.

The biopharmaceutical company generated $6.8 million in net product revenue from ZUNVEYL during 2025, with fourth-quarter sales reaching $2.5 million. The company also recorded $3.4 million in licensing revenue for the year.

ZUNVEYL bottle dispensations increased 62% quarter-over-quarter in the fourth quarter to 4,941 bottles, with December marking the strongest single month since the drug's launch at 1,859 bottles dispensed. The number of prescribers grew 50% in the fourth quarter compared to the prior quarter.

Alpha Cognition secured agreements with two of the four major pharmacy benefit managers relevant to the long-term care market during 2025. The company's sales team engaged with approximately 4,000 facilities since the commercial launch.

Operating expenses totaled $32.9 million for 2025, compared to $12.0 million in 2024. Selling, general and administrative expenses increased to $29.1 million from $8.0 million in the prior year, reflecting commercial investment. Research and development expenses decreased to $1.9 million from $3.9 million as the company transitioned to commercial operations.

The company reported a net loss of $20.7 million for 2025, compared to $14.8 million in 2024. Cash and cash equivalents totaled $66.0 million at year-end 2025, up from $48.5 million at the end of 2024, following a $40 million capital raise completed in October.

Alpha Cognition expects to achieve operating profitability in 2027 and estimates its current cash position provides approximately two years of runway at forecasted operating levels.