Clinical Trial Outcomes Risk: Clinical trials for Alpha Cognition's drug candidates, particularly its lead candidate ALPHA-1062, may not demonstrate sufficient safety or efficacy, leading to delays or complete failure to obtain regulatory approval and negatively impacting the company's future prospects.

Regulatory Approval Risk: The company may fail to secure necessary regulatory approvals from health authorities like the FDA or EMA for its drug candidates, even if clinical trials are successful, due to various factors including manufacturing issues, labeling disputes, or evolving regulatory standards.

Capital and Funding Risk: Alpha Cognition is a clinical-stage company that requires substantial capital to fund its research, development, and commercialization efforts, and there is a significant risk it may not be able to raise sufficient additional financing on favorable terms, or at all, leading to potential operational delays or cessation.