Business
Cognition Therapeutics Reports Year End 2022 Financial Results and Provides Business Update
- Completed enrollment of CT1812 Phase 2 SEQUEL study for mild-to-moderate Alzheimer's disease - Received FDA clearance for Phase 2 START Study of CT1812 in
About this update from Cognition Therapeutics, Inc.
[{"type":"text","content":"- Completed enrollment of CT1812 Phase 2 SEQUEL study for mild-to-moderate Alzheimer's disease - Received FDA clearance for Phase 2 START Study of CT1812 in early Alzheimer’s disease - Received FDA clearance for IND for Phase 2 study of CT1812 in 240 patients with geographic atrophy secondary to dry AMD - Secured equity commitment of up to an additional $35M enabling potential access to capital - Connecting with neuroscience community through ongoing Cognition Conversations podcast series - Call scheduled today at 8:00 a.m. ET to discuss results PURCHASE, N.Y., March 23, 2023 (GLOBE NEWSWIRE) -- Cognition Therapeutics, Inc. (Nasdaq: CGTX), a clinical-stage neuroscience company developing drugs that treat neurodegenerative disorders by regulating cellular damage response pathways (the “Company” or “Cognition”), today reported financial results for the fourth quarter and full year ended December 31, 2022, and provided a business update. “We believe the momentum we built in 2022 positions us for further success with our clinical and operational agenda in 2023,” said Lisa Ricciardi, President and CEO of Cognition Therapeutics. “In the fourth quarter of 2022, we saw improvement in all key aspects of our business. On the capital front, we raised $6 million in a follow-on public offering, established an ATM program and, in the first quarter of 2023, secured up to an additional $35 million equity financing commitment from Lincoln Park Capital. In the clinic, we expanded our mild-to-moderate Alzheimer’s disease 144-patient SHINE study to include sites in Europe and began dosing patients. During the same period, as part of our mission to educate stakeholders on our programs and promote disease awareness, we launched a podcast series that features conversations with CNS experts and thought leaders to discuss key developments in the neurodegenerative disease space.” “We kicked off 2023 announcing the completion of enrollment in our Phase 2 SEQUEL study for mild-to-moderate Alzheimer’s disease with topline results expected later this year,” Ms. Ricciardi continued. “We also received clearance from the US FDA to proceed with our 540-patient START study that will investigate the treatment potential of CT1812 in early Alzheimer’s disease and anticipate commencing the trial this year. Lastly, we recently obtained the FDA’s clearance on our IND a...