Why did ACOG's operating expenses surge in Q1 2024?

Alpha Cognition's operating expenses surged in Q1 2024 due to several key factors:

1. Research and Development Expenses Increase: Alpha Cognition's operations expenses were influenced by higher cloud computing expenses and other expenses related to their AI business, particularly from their Pittsburgh operating segment. These increases were partly offset by lower research and development expenses related to office closures.
2. Foreign Exchange Losses: The company also experienced foreign exchange losses on foreign currency-denominated receivables. This was due to the Canadian dollar's weakening during Q1 fiscal 2023 and subsequent strengthening in Q1 fiscal 2024. Additionally, there were higher professional fees, primarily attributed to project Jupiter.

In summary, the surge in operating expenses was driven by a combination of increased research and development costs, foreign exchange losses, and higher professional fees.