Cognition Therapeutics, Inc. ( (CGTX) ) has released its Q3 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 small molecule therapeutics for age-related degenerative disorders of the central nervous system and retina. The company is currently advancing its lead candidate, CT1812, in clinical programs targeting Alzheimer’s disease, dementia with Lewy bodies, and dry age-related macular degeneration.
In its third quarter 2024 earnings report, Cognition Therapeutics announced significant progress in its clinical trials, particularly with its CT1812 candidate. Notably, results from the Phase 2 SHINE study indicated a 95% slowing of cognitive decline in Alzheimer’s patients with lower plasma p-tau217 levels. The company plans to align with the FDA on a pivotal Phase 3 program following these promising findings.
Financially, Cognition reported a net loss of $9.9 million for the third quarter, attributed mainly to research and development expenses. Despite the net loss, the company maintains a cash reserve of $22 million and continues to benefit from grant funding, amounting to $53.6 million remaining from the National Institute on Aging.
Strategically, Cognition is gearing up for the release of topline results from its Phase 2 SHIMMER study by the end of 2024, which investigates CT1812 in patients with mild-to-moderate dementia with Lewy bodies. This study aims to provide safety and tolerability data, potentially informing larger clinical trials for this under-represented condition.
Looking forward, Cognition Therapeutics remains focused on advancing its novel therapeutics for neurodegenerative diseases, with management expressing confidence in their clinical development plans and upcoming regulatory engagements.
