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) released the eighth episode of its Conversations video podcast titled “Protecting the Synapse from Amyloid Toxicity in Alzheimer's Disease.” This episode explores how beta amyloid (Aβ) oligomers lead to synaptic dysfunction and cognitive decline. The podcast discusses recent research showing Aβ oligomers binding to synapses in Alzheimer's patients and how CT1812 can reverse this binding and reduce toxicity. Highlights include the use of quantitative EEG as a biomarker in the Phase 2 ‘SEQUEL’ study, which showed improvements in synaptic function and brain connectivity after four weeks of CT1812 treatment. Dr. Hamby presented proteomic analysis results demonstrating CT1812's positive effects on proteins and pathways linked to Alzheimer's. The discussion was moderated by Dr. Anthony Caggiano, featuring Dr. Mary Hamby, Dr. Everard Vijverberg, and Dr. Tara Spires-Jones.
Cognition Therapeutics, Inc. (Nasdaq: CGTX) reported financial results for Q1 2024 and provided business updates. They completed enrollment of 130 participants in the SHIMMER study for Alzheimer's and DLB, with topline results expected mid-2024. The company also raised $11.9 million in a public offering and presented research findings at conferences.
Financially, the company has $34.7 million in cash and $62.3 million in grant funds. Research and development expenses increased to $10.6 million, leading to a net loss of $9.2 million for the quarter.
Cognition Therapeutics, Inc. completed enrollment in the Phase 2 SHIMMER study of CT1812 for mild-to-moderate dementia with Lewy bodies. Top-line results are expected in the second half of 2024. The study aims to develop a disease-modifying therapy for DLB by targeting Aβ and α-synuclein oligomers.
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