Alzinova potentially has a promising vaccine for Alzheimer in its portfolio. Focus for the company in 2024 is to sign a partner agreement with "big pharma" for its Phase 2 candidate. Otherwise significant dilution can be expected for funding of the Phase 2 trial.

Key stakeholders in the company have a questionable reputation from involvement in; Vivesto (Oasmia), Anima Group, Peptonic Medical and Rosland Capital. Alzinova's last right issue resulted in 50% dilution as the number of shares doubled. The underwriters, including existing shareholders, received a 20% fee for the underwritten amount, almost 10% of the company at a market cap of 100Mkr. Investment bank Mangold was the advisor for the rights issue, and also advised for other of the above names.

Alzinova has too many red flags to invest.