ATLANTA, Sept. 16, 2026 /PRNewswire/ -- Alzamend Neuro, Inc. (NASDAQ:ALZN) ("Alzamend"), a clinical-stage biopharmaceutical company focused on developing novel products for the treatment of Alzheimer's disease ("Alzheimer's"), bipolar disorder ("BD"), major depressive disorder ("MDD") and post-traumatic stress disorder ("PTSD"), today announced that it has received a notification letter (the "Compliance Notice") from the Listing Qualifications Staff of the Nasdaq Stock Market, LLC ("Nasdaq") dated September 14, 2026, informing Alzamend that it has regained compliance with Nasdaq Listing Rule 5550(b)(1) (the "Equity Rule"). In order to regain compliance with the Equity Rule, Alzamend needed to have a minimum stockholders' equity of $2.5 million. Based on Alzamend's Quarterly Report on Form 10-Q for the quarter ended July 31, 2026, which was dated and filed with the U.S. Securities and Exchange Commission on September 10, 2026, Alzamend evidenced stockholders' equity of $5,802,680. Accordingly, in the Compliance Notice, Nasdaq stated that Alzamend complies with the Equity Rule and the matter is now closed.

As previously reported, on March 20, 2026, Alzamend was notified by Nasdaq that it did not meet the minimum market value of listed securities requirement for continued listing on Nasdaq under Nasdaq Listing Rule 5550(b)(1), or any other continued listing standard, such as the Equity Rule, and was provided 45 calendar days, or until May 4, 2026, to submit a plan to regain compliance. Alzamend submitted its plan to Nasdaq to regain compliance with the Equity Rule, which was accepted by Nasdaq and Alzamend was granted until September 16, 2026 to regain compliance.

Stephan Jackman, CEO of Alzamend, stated, "We are very pleased to have regained compliance with Nasdaq's continued listing standards. Maintaining our Nasdaq listing is fundamental to Alzamend's mission, and we are grateful for our investors' support. With this behind us, our full focus returns to advancing AL001 through four Phase II clinical trials in partnership with Massachusetts General Hospital. We have made significant progress: the healthy human cohort initiated in May 2025 completed its clinical portion in November 2025, and we reported topline data in March 2026. Building on that momentum, we initiated the BD cohort in April 2026 and look forward to completing that trial while sequentially initiating the three remaining cohorts in patients with Alzheimer's, MDD and PTSD."

About Alzamend Neuro

Alzamend is a clinical-stage biopharmaceutical company developing novel therapies for Alzheimer's, BD, MDD and PTSD. Our mission is to rapidly develop and market safe and effective treatments. Our current pipeline consists of two novel therapeutic drug candidates, AL001, a patented ionic cocrystal delivering lithium with salicylate and L-proline designed to improve brain delivery and safety compared to conventional lithium, and ALZN002, a patented cell-based therapeutic vaccine designed to restore the immune system's ability to clear Alzheimer's beta-amyloid. The latter is a next-generation active-immunity approach offering potential advantages in dosing frequency and cost compared to approved passive-immunity antibody therapies. Both candidates are exclusively licensed from the University of South Florida Research Foundation under royalty-bearing worldwide licenses.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and Alzamend undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect Alzamend's business and financial results are included in Alzamend's filings with the U.S. Securities and Exchange Commission. All filings are available at www.sec.gov and on Alzamend's website at www.Alzamend.com.

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SOURCE Alzamend Neuro, Inc.