Cognition Therapeutics, Inc. ( (CGTX) ) has released its Q4 earnings. Here is a breakdown of the information Cognition Therapeutics, Inc. presented to its investors.
Cognition Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative small molecule therapeutics for age-related degenerative disorders of the central nervous system and retina, with a primary focus on Alzheimer’s disease and dementia with Lewy bodies (DLB).
In its latest earnings report, Cognition Therapeutics highlighted significant progress in its clinical trials for its lead candidate, zervimesine (CT1812), showing promising results in Phase 2 studies for both Alzheimer’s disease and DLB. The company plans to advance zervimesine into late-stage trials in 2025.
The company reported strong clinical outcomes from its Phase 2 SHIMMER study in DLB, demonstrating up to 91% slowing of cognitive decline compared to placebo. Additionally, the SHINE study in Alzheimer’s disease showed near-total preservation of cognition in patients with lower p-tau217 levels. Cognition Therapeutics also concluded its Phase 2 MAGNIFY study to focus resources on Alzheimer’s and DLB programs, resulting in cost savings.
Financially, Cognition Therapeutics reported a net loss of $34.0 million for 2024, with research and development expenses increasing to $41.7 million. The company ended the year with approximately $25.0 million in cash and cash equivalents, and $50.0 million in remaining obligated grant funds.
Looking ahead, Cognition Therapeutics aims to initiate Phase 3 trials for zervimesine in Alzheimer’s disease and DLB, while exploring funding options, including potential partnerships with pharmaceutical companies, to support its clinical development plans.
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