Opaleye Management Inc. 4

What Happened Opaleye Management Inc., the investment manager for certain Opaleye accounts and a reported 10% owner of Alpha Cognition Inc. (ACOG), made open-market purchases of ACOG stock on March 4–5, 2026. The filing reports three purchases totaling 66,818 shares: 19,795 shares at a weighted average price of $5.81 (≈ $115,001), 42,023 shares at $5.80 (≈ $243,633), and 5,000 shares at $5.80 (≈ $28,988). Aggregate consideration is about $387,622. These were purchases (a buying activity, which retail investors often view as a more informative signal than routine sales).

Key Details

• Transaction dates and amounts:
  • 2026-03-04: 19,795 shares @ $5.81 — $115,001
  • 2026-03-05: 42,023 shares @ $5.80 — $243,633
  • 2026-03-05: 5,000 shares @ $5.80 — $28,988
  • Total: 66,818 shares, ≈ $387,622
• Prices are reported as weighted averages; the filing discloses the underlying trade price ranges were approximately $5.70–$5.8689 and that Opaleye can provide a breakdown on request.
• Shares owned after the transactions are not specified in the Form 4.
• Filing date: 2026-03-06 (covers transactions on Mar 4–5, 2026); filing appears timely based on reported dates.
• Relevant footnotes:
  • F1/F2: Purchases represent shares owned by Opaleye-managed vehicles (a Fund and a separately managed account); Opaleye, as manager/portfolio manager, may be deemed to beneficially own those securities.
  • F5: Opaleye disclaims beneficial ownership except to the extent of its pecuniary interest.

Context

• This is institutional trading by a 10% owner/manager rather than an individual company executive — such purchases reflect activity by an investment manager for client/fund accounts, not necessarily personal convictions of an officer.
• The filing contains standard weighted-average pricing disclosures and a disclaimer of beneficial ownership; no options, awards, gifts, or tax-withholding events were reported.