Alzamend Neuro regains Nasdaq compliance; avoids delisting

Alzamend Neuro, Inc.

Received written notice from Nasdaq Hearings Panel on Oct 14, 2024 that it has regained compliance with minimum stockholders' equity rule ($2.5M required).
Had been notified of delisting in March 2024, appealed to Panel, granted extension until Sept 23, 2024.
Entered $25M Series A Convertible Preferred purchase agreement; $8M already funded, additional $2M due in 30 days, $1M monthly through Jan 2026.
CEO Stephan Jackman states strategic plan executed; company intends to initiate five phase II AL001 trials in 2025 with Massachusetts General Hospital.

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