Alpha Cognition reports Q2 2026 revenue, trims opex guidance

Alpha Cognition (NASDAQ: ACOG ) reported second-quarter financial results on Thursday.

The transcript from the company's second-quarter earnings call has been provided below.

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For comprehensive financial data and transcripts, visit The full earnings call is available at Summary Alpha Cognition reported $6 million in net product revenue for Q2 2026, marking a 71% growth from Q1 2026, with a GAAP gross product margin of 94%.

The company continues to focus on commercializing Zunvale, an Alzheimer's treatment, with increased prescriber and nursing home adoption and positive clinical data from studies such as Beacon.

Alpha Cognition reduced its full-year 2026 operating expense guidance to $50-$54 million, reflecting confidence in balancing growth investments with expense management.

The company maintains a strong cash position with $41.4 million in cash and cash equivalents and a strategic move to eliminate future royalty burdens.

Management remains optimistic about achieving operating profitability by 2027, with continued focus on expanding prescriber reach and payer access, despite current slow formulary activation.

Full Transcript OPERATOR (Operator) Greetings and welcome to the Alpha Cognition earnings call.

At this time, all participants are in a listen-only mode.

A brief question-and-answer session will follow the formal presentation.

Should anyone require operator assistance during the conference, please press star-0 on your telephone keypad.

As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Henry Du, Interim CFO, VP, Accounting and Finance.

Thank you.

You may begin.

Henry Du, Interim CFO and VP, Accounting and Finance Thank you, Sachi.

Good afternoon, everyone, and thank you for joining us today for Alpha Cognition's second quarter 2026 financial results conference call.

Today, after the close of market, the Company issued a press release announcing these results.

On the call with me are Alpha Cognition Chief Executive Officer Michael McStadden and Chief Operating Officer Lauren D'Angelo.

Today's call is being made available via the investors section of the Company's website at During the course of this call, management may make certain forward-looking statements regarding future events and the Company's future performance.

These forward-looking statements reflect Alpha Cognition's current perspective on existing trends and information.

Any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those noted in the Risk Factors section of the Company's latest SEC filings.

Actual results may differ materially from those projected in these forward-looking statements.

For the benefit of those of you who may be listening to the replay, this call is being held and recorded on August 13, 2026.

Since then, the Company may have made additional announcements related to the topics discussed.

Please reference the Company's most recent press releases and current filings with the SEC.

Alpha Cognition declines any obligation to update these forward-looking statements except as required by applicable securities laws.

I'll now turn the call over to Michael.

Michael McStadden, CEO Thank you, Henry.

Good afternoon, everyone.

Welcome to today's call.

The second quarter of 2026 represents another important quarter of commercialization for Zundell, the first new oral Alzheimer's treatment approved in more than 15 years.

It was a strong quarter of execution with clear sequential growth in Zymbel, demand expansion and prescriber adoption, increased nursing home penetration, and continued progress with evidence generation to clinically support Zembel.

We continue to execute with discipline and confidence, and I believe this quarter demonstrates that Zenville's commercial trajectory is tracking well with our expectations as we continue to scale the brand and the long-term care segment.

In Q2, we generated approximately $6 million in net product revenues, representing approximately 71% quarter-over-quarter growth versus Q1 2026.