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, Inc. (Nasdaq: CGTX) recently completed its public offering, closing the sale of 5 million shares at $1.20 each, raising approximately $6 million in gross proceeds. The offering included a 30-day option for underwriters to purchase an additional 750,000 shares. The funds will support the development of its product candidates and general corporate purposes. Cantor Fitzgerald & Co. served as the sole book-running manager. This transaction is expected to enhance Cognition's financial position as it advances its clinical programs targeting Alzheimer's disease and related disorders.
Cognition Therapeutics (Nasdaq: CGTX) reported Q3 2022 financial results, showing a net loss of $6.6 million, or $0.29 per share, compared to a loss of $4.9 million in Q3 2021. The company continues to advance Phase 2 trials for CT1812, with enrollment for the SHINE study expanding into Europe. The SEQUEL trial received a $2.14M NIA grant to support enrollment completion. R&D expenses increased to $8.3 million due to trial activity, while general and administrative expenses rose to $4.4 million. Cash and equivalents stood at $46.6 million as of September 30, with $93.6 million in grants available.
Cognition Therapeutics, Inc. (Nasdaq: CGTX) announced a public offering of 5,000,000 shares of common stock at $1.20 each, aiming for gross proceeds of approximately $6.0 million. The offering is set to close on November 15, 2022, pending customary conditions. Proceeds will fund the development of its product candidates and general corporate purposes. Cantor Fitzgerald & Co. is the sole book-running manager, with Newbridge Securities Corporation as co-manager. The SEC declared the registration statement effective on November 9, 2022.
Cognition Therapeutics, Inc. (Nasdaq: CGTX) is recruiting participants for the SHIMMER Phase 2 clinical trial of CT1812, aimed at treating Lewy Body Dementia (LBD), with over 1.4 million Americans affected. This trial will include 120 adults aged 50 to 80 and analyze cognitive and physical changes over six months. Supported by $30M in NIH grants, the study is crucial given the lack of approved treatments for LBD. The company aims to raise awareness about this often-misdiagnosed condition during Lewy Body Dementia Awareness Month.
Cognition Therapeutics, Inc. (CGTX) has appointed Paul J. Tiseo, Ph.D., as vice president of clinical development. With over 20 years of experience in CNS drug development, Tiseo will oversee ongoing clinical studies for Alzheimer’s disease and dementia. The company is actively enrolling participants in three studies and plans to start additional studies soon. Tiseo expressed enthusiasm about enhancing development strategies for CT1812, a lead candidate targeting age-related degenerative disorders.
Cognition Therapeutics, Inc. (Nasdaq: CGTX) announced that its CEO, Lisa Ricciardi, will participate in the Cantor Fitzgerald Neurology & Psychiatry Conference in San Francisco on October 6-7, 2022. Cognition will be featured in a panel discussion titled ‘Wave of Innovation for Alzheimer’s Disease’ on October 7, 2022, from 9:00 a.m. to 10:00 a.m. PT. The presentation will be exclusive to conference attendees, with no webcast available. Cognition focuses on developing small molecule therapeutics for age-related neurodegenerative diseases, including clinical trials for CT1812 targeting Alzheimer’s and dry AMD.
Cognition Therapeutics has received a $2.14 million grant from the National Institute on Aging to support the ongoing SEQUEL Study of CT1812 in adults with mild-to-moderate Alzheimer’s disease. This trial aims to assess the impact of CT1812 on EEG patterns linked to memory function. The funding will help advance the study, which has faced delays due to the pandemic. The SEQUEL study involves 16 participants randomized to receive CT1812 or a placebo for 28 days, followed by a crossover period. Previous funding included a $3.2 million grant in 2020.
Cognition Therapeutics, Inc. (Nasdaq: CGTX) announced management's participation in two September 2022 investment conferences. The H.C. Wainwright 24th Annual Global Investment Conference will occur on September 14, 2022, in New York City, featuring a presentation from 10:30am to 11:00am ET. The Ladenburg Thalmann Healthcare Conference will follow on September 29, 2022, with a presentation from 1:30pm to 1:55pm ET. Live webcasts will be available on the company’s investor website.
Cognition focuses on developing therapeutics for age-related diseases, notably investigating its lead candidate CT1812 for Alzheimer's and related conditions.
Cognition Therapeutics, Inc. (NASDAQ: CGTX) reported optimistic advancements in its clinical trials during Q2 2022, including the initiation of patient dosing in the SHIMMER study for dementia with Lewy bodies and the SHINE study for mild-to-moderate Alzheimer's disease. The company presented promising preclinical data for its dry age-related macular degeneration (dry AMD) program. Financially, CGTX recorded a net loss of $5.8 million for Q2 2022, increasing from $2.8 million in Q2 2021. As of June 30, 2022, the company held $45.8 million in cash and expects to maintain funding into Q4 2023.
Cognition Therapeutics, Inc. (NASDAQ: CGTX) presented insightful findings at the Alzheimer’s Association International Conference on August 4, 2022. Results from the SPARC study highlighted the effects of CT1812 on crucial Alzheimer’s biomarkers, particularly showing a decrease in YKL-40, an inflammation marker, in patients, suggesting a potential therapeutic benefit. Additionally, CT1812 impacted clusterin levels, associated with genetic risks for Alzheimer’s. The company remains optimistic as it proceeds with the ongoing Phase 2 SHINE study.
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