Welcome to our dedicated page for Cognition Therapeutics news (Ticker: CGTX), a resource for investors and traders seeking the latest updates and insights on Cognition Therapeutics stock.
Cognition Therapeutics, Inc. (NASDAQ: CGTX) is a clinical-stage biopharmaceutical company based in Pittsburgh, Pennsylvania. Established in 2007, the company is dedicated to discovering and developing small-molecule therapeutics aimed at treating age-related degenerative diseases and disorders of the central nervous system and retina.
At the heart of Cognition Therapeutics' innovation is its proprietary biology and chemistry platforms, which are utilized to identify novel drug targets and create disease-modifying therapies. The company's flagship product candidate, CT1812, is an orally administered small-molecule antagonist designed to breach the blood-brain barrier. CT1812 binds selectively to the S2R complex, potentially offering a unique therapeutic approach for patients.
Current Projects and Achievements:
- CT1812 is currently being evaluated in Phase 2 clinical trials for conditions such as Alzheimer’s disease, dementia with Lewy bodies (DLB), and dry age-related macular degeneration (dry AMD).
- Recent 2023 milestones include completing enrollment for the SHINE Study in mild-to-moderate Alzheimer's disease and initiating new clinical studies for early Alzheimer's and dry AMD.
- The SHIMMER study for mild-to-moderate DLB has also reached its target enrollment, with top-line results anticipated in the latter half of 2024.
The company has made significant strides in advancing its clinical programs. In 2023, the FDA approved the first disease-modifying biologics for Alzheimer’s disease, which has rejuvenated research and investment in this critical area. Cognition Therapeutics is leveraging this momentum in its ongoing research and clinical trials.
Financial Overview:
For the year ending December 31, 2023, Cognition Therapeutics reported cash and cash equivalents of approximately $29.9 million. Additional capital from a March 2024 offering has bolstered their financial position, providing the company with sufficient funds to support operations and capital expenditures through May 2025.
Research and development expenses for 2023 were $37.2 million, an increase from $30.3 million in 2022, reflecting higher costs associated with Phase 2 trials and personnel. General and administrative expenses remained relatively stable at $13.5 million.
The company continues to foster collaborations and partnerships to advance its scientific goals. Notably, the SHIMMER study is supported by a significant grant from the National Institute on Aging (NIA), totaling approximately $30 million.
For ongoing updates and detailed information about Cognition Therapeutics, visit their website at cogrx.com.
Cognition Therapeutics (Nasdaq: CGTX) announced significant achievements for 2021, including an upsized IPO that generated approximately $52 million and $45 million in grants from the National Institute on Aging for clinical studies. The company appointed new leadership for R&D and expanded its clinical pipeline, demonstrating clinical engagement in Alzheimer's and other neurodegenerative diseases. Looking ahead, Cognition aims to advance multiple studies funded by substantial grants and deliver new therapeutics to enhance shareholder value in 2022.
Cognition Therapeutics (NASDAQ: CGTX) has received a Therapeutic Pipeline Program Grant from The Michael J. Fox Foundation for Parkinson's Research. This funding will support preclinical studies of two sigma-2 receptor modulators in animal models of Parkinson's disease, led by VP of research Mary E. Hamby, Ph.D. The studies aim to develop disease-modifying therapies for Parkinson's, where current options are lacking. CEO Anthony Caggiano emphasized the potential of σ-2 receptor targeting to impact disease progression biomarkers.
Cognition Therapeutics (Nasdaq: CGTX) announced that Lisa Ricciardi, CEO, will participate as a panelist in a virtual discussion titled, "Aduhelm: Stimulating the Next Generation of AD Treatment" on January 11, 2022, from 8:00 to 9:00 a.m. PT.
The panel focuses on the evolving investment landscape in Alzheimer's disease treatments, featuring CEOs from five companies in the sector. Cognition's key product, CT1812, is in Phase 2 development and has received FDA Fast Track designation for Alzheimer's.
Cognition Therapeutics, Inc. (Nasdaq: CGTX) will hold a virtual R&D symposium on December 7, 2021, from 10:00 am to 12:00 pm ET. The event will focus on dementia with Lewy bodies (DLB), featuring presentations by experts from the DLB community, including insights on treatment and patient burden.
Cognition's management will discuss advancing their small molecule sigma-2 modulator for DLB. Registration is available on their website, and a live webcast will be provided.
Cognition Therapeutics (Nasdaq: CGTX) announced significant financial results for the third quarter ended September 30, 2021, following its upsized IPO which raised approximately $52 million. The firm received NIA grants totaling $43.6 million to support clinical studies for its lead candidate, CT1812, targeting mild-to-moderate Alzheimer’s disease and dementia with Lewy bodies. They reported a net loss of $5.0 million for Q3, with increased R&D expenses of 8.1% and overall optimistic projections for clinical advancements. The firm maintains a cash reserve of $8.3 million and positive funding outlook for the next 24 months.
Cognition Therapeutics, Inc. (Nasdaq: CGTX) has closed the sale of 565,217 additional shares of common stock following the full exercise of the underwriters' over-allotment option related to its initial public offering. The shares were sold at $12.00 each, raising approximately $6.8 million before expenses. With this over-allotment, the total offering comprises 4,333,333 shares, generating about $52 million in gross proceeds. The IPO commenced trading on October 8, 2021.
Cognition Therapeutics, Inc. (Nasdaq: CGTX) announced the appointment of Ellen B. Richstone to its board of directors, where she will chair the audit committee. Richstone brings extensive experience from Fortune 500 companies and board positions in manufacturing and technology. Her leadership in finance, operations, and over 35 acquisitions, totaling $1 billion raised, positions her to enhance Cognition's strategic direction. Richstone's academic credentials include degrees from Scripps College and Tufts University, and she has been recognized for her governance contributions.
Pittsburgh Life Science Greenhouse (PLSG) announced that its portfolio company, Cognition Therapeutics, Inc., launched an initial public offering (IPO) on October 8, 2021, trading under the ticker symbol CGTX. The IPO is expected to generate approximately $45.2 million in gross proceeds. Cognition Therapeutics focuses on developing oral drug candidates for neurodegenerative disorders, including Alzheimer's disease, with its lead candidate CT1812 currently in clinical trials. Proceeds from the IPO will be reinvested to support other life sciences startups in the region.
Cognition Therapeutics has announced the pricing of its upsized initial public offering (IPO) of 3,768,116 shares at a public offering price of $12.00 per share, aiming for gross proceeds of approximately $45.2 million. The shares will begin trading on the Nasdaq Global Market under the ticker symbol CGTX on October 8, 2021, with the offering expected to close on October 13, 2021.
B. Riley Securities, Inc. is the lead bookrunning manager for this offering.
Cognition Therapeutics, a clinical-stage biopharmaceutical company, has launched an initial public offering of 3,350,000 shares of common stock, with an anticipated price range of $11.00 to $13.00 per share. The company has also granted underwriters a 45-day option to purchase an additional 502,500 shares. The offering is subject to market conditions and follows an SEC registration statement that has yet to become effective. Cognition's stock is set to trade on Nasdaq under the symbol CGTX.
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