Business
Cognition Therapeutics Reports Third Quarter 2022 Financial Results and Provides Business Update
- SHINE Alzheimer’s Trial Expands to European Sites - - SEQUEL Alzheimer’s Trial Awarded Additional NIA Grant to Complete - - Over 50% of SHIMMER Dementia
About this update from Cognition Therapeutics, Inc.
[{"type":"text","content":"- SHINE Alzheimer’s Trial Expands to European Sites - - SEQUEL Alzheimer’s Trial Awarded Additional NIA Grant to Complete - - Over 50% of SHIMMER Dementia with Lewy Bodies Study Sites Active - PURCHASE, N.Y., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Cognition Therapeutics, Inc. (Nasdaq: CGTX), (the “Company” or “Cognition”) today reported financial results for the third quarter ended September 30, 2022 and provided an update on the company’s business and clinical development progress. “We continue to advance three Phase 2 clinical trials investigating CT1812 and are highly motivated by the encouraging data from our clinical programs as well as favorable results from complementary approaches being pursued by peers in the industry,” said Lisa Ricciardi, president and CEO of Cognition Therapeutics. “With the prospect of near-term completion of enrollment in SEQUEL, expanded enrollment in the SHINE Alzheimer’s study, and continued progress in the SHIMMER DLB study, we believe we are entering a period of significant clinical progress.” Cognition’s lead candidate, CT1812, is in development for age-related degenerative diseases and is designed to prevent the binding of toxic oligomers to neurons, thus protecting these sensitive brain cells. Supplemental grant awards from the National Institute of Aging (NIA) are supporting the completion of enrollment in the SEQUEL study and the continuation and completion of the SHINE trial. The company is now expanding enrollment for the ongoing Phase 2 SHINE study into Spain, The Netherlands and the Czech Republic. Business and Clinical Updates: 18 new sites open in the SHIMMER study in DLB with more to be added; all sites expected to be activated by year-end.SHIMMER principal investigator, James E. Galvin, MD, to present Cognition’s DLB study design at Clinical Trials in Alzheimer’s Disease (CTAD) conference in San Francisco in NovemberPresented proteomic data at AAIC 2022 held in August demonstrating a downward shift in disease-relevant biomarkers including YKL-40, a biomarker of inflammation, which is upregulated in Alzheimer’s disease, towards levels observed in healthy, non-demented individuals, supporting a positive impact of CT1812 on disease biology.Cash runway extended into the first half of 2024, inclusive of a $2.14M additional NIA grant awarded for the SEQUEL study Q3 2022 Financial Results: Re...