SCHEDULE: Opaleye Boosts Alpha Cognition Stake to 10.09%

Opaleye Management Inc. and affiliates disclosed an increased beneficial ownership of 10.09% in Alpha Cognition Inc. common stock.

Summary

• Opaleye Management Inc., Opaleye, L.P., and James Silverman collectively reported beneficial ownership of Alpha Cognition Inc. common stock.
• Opaleye Management Inc. and James Silverman beneficially own 2,193,589 shares, representing 10.09% of the class.
• Opaleye, L.P. beneficially owns 2,125,000 shares, representing 9.77% of the class.
• The percentage of class is based on 21,742,104 Common Shares outstanding as reported by Alpha Cognition, Inc. in its Form 10-Q filed on November 13, 2025.
• The shares are held with shared voting and dispositive power by the reporting persons.
• The acquisition of securities was not for the purpose of changing or influencing control of the issuer, or in connection with such a transaction, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, as a significant institutional investor maintaining a substantial stake suggests continued confidence in the company's long-term prospects.

Positives

• A significant institutional investor, Opaleye Management Inc., maintains a substantial stake, indicating continued confidence in Alpha Cognition Inc.
• The beneficial ownership of 10.09% by Opaleye Management Inc. and James Silverman suggests a strong, long-term interest in the company's performance.

Risks

• The filing itself does not detail specific company operational risks. The primary risk related to this filing is the concentration of ownership, which could influence corporate decisions.

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."

Industry Context

StockSavvy.ai notes that significant ownership disclosures like this Schedule 13G are common for institutional investors accumulating or maintaining substantial stakes in public companies. A 10% stake is a notable position, often signaling a long-term investment thesis or potential for active engagement, even if the filing explicitly disclaims intent to control.

Comparison to Industry Standards

• A 10.09% beneficial ownership stake by an institutional investor like Opaleye Management Inc. is considered a significant position, often placing the investor among the top shareholders.
• Compared to passive index funds that might hold similar percentages across many companies, Opaleye's active management style suggests a more deliberate investment decision in Alpha Cognition Inc.
• While not directly comparable to specific projects or results, this level of ownership is consistent with engaged investment strategies seen from funds, though Opaleye's certification disclaims control intent.

Stakeholder Impact

• Shareholders: The continued significant stake by Opaleye Management Inc. may be viewed positively, potentially signaling stability and institutional backing, which could influence investor confidence.
• Management: Management may perceive this as a vote of confidence, but also as a watchful eye from a major shareholder.

Next Steps

• Opaleye Management Inc., Opaleye, L.P., and James Silverman will continue to monitor their investment in Alpha Cognition Inc.
• Further Schedule 13G amendments would be filed if there are material changes to their beneficial ownership.

Key Dates

Recommendation

The filing indicates a significant, stable institutional ownership stake, which is generally a neutral to positive signal. However, without additional operational or financial information from Alpha Cognition Inc., a definitive "buy" or "sell" recommendation cannot be made solely on this ownership disclosure. A "hold" recommendation is appropriate as it suggests maintaining current positions while awaiting further company-specific news or financial performance updates.

Keywords

Alpha Cognition Inc., Opaleye Management Inc., Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Equity Stake, Investment, SEC Filing