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Why Is Penny Stock Cognition Therapeutics Trading Over 93% On Wednesday?
Benzinga· 2024-12-18 16:06
Core Insights - Cognition Therapeutics, Inc. reported positive results from the exploratory Phase 2 SHIMMER study, indicating that CT1812 showed strong therapeutic responses in patients with dementia with Lewy bodies (DLB) across various measures [1][2] Study Results - The SHIMMER Phase 2 study involved 130 patients with mild-to-moderate DLB, who were randomized to receive either CT1812 or placebo for six months [1] - The study met its primary endpoint of safety and tolerability, with DLB patients treated with CT1812 showing significant improvements in behavioral, functional, cognitive, and movement measures compared to placebo [2] - There was an 82% slowing in the total neuropsychiatric inventory (NPI), with notable reductions in anxiety, hallucinations, and delusions among CT1812 treated patients [2] - Caregiver distress also saw a marked reduction, indicating a positive impact on the daily lives of patients receiving the drug [3] - Participants treated with CT1812 experienced a 91% decline in fluctuations in attention, demonstrating a slowing decline across all three cognitive measures compared to placebo [3] Financial Position - As of September 30, 2024, Cognition Therapeutics reported cash and cash equivalents of approximately $22.0 million, with total grant funds remaining from the NIA at $53.6 million [5] - The company estimates it has sufficient cash to fund operations and capital expenditures into the second quarter of 2025 [5] Stock Performance - Following the positive study results, CGTX stock increased by 93.45%, reaching $0.88 [6]
Cognition Therapeutics Announces Positive Results in Phase 2 Study of CT1812 in Dementia with Lewy Bodies
GlobeNewswire· 2024-12-18 12:22
Clinical Trial Results - CT1812 demonstrated strong therapeutic responses across behavioral, functional, cognitive, and movement measures in patients with dementia with Lewy bodies (DLB) in the exploratory Phase 2 SHIMMER study [1] - The study met its primary endpoint of safety and tolerability, with CT1812-treated patients showing improvement in behavioral, functional, cognitive, and movement measures compared to placebo [2] - There was an 82% slowing in the total neuropsychiatric inventory (NPI), with significant reductions in anxiety, hallucinations, and delusions in the CT1812-treated arms [2] - Participants treated with CT1812 experienced a 91% slowing in the decline of attention fluctuations compared to placebo [2] Study Design and Details - The SHIMMER Phase 2 study enrolled 130 patients with mild-to-moderate DLB, randomized to receive one of two oral doses of CT1812 or placebo daily for six months [2] - The study is supported by a $30 million grant from the National Institute on Aging of the National Institutes of Health (NIH) [8] - The study is being conducted at over 30 sites in the United States, many of which are Lewy Body Dementia Association (LBDA) centers of excellence [8] Future Plans and Expectations - Cognition Therapeutics plans to advance CT1812 into late-stage trials based on the positive results from the SHIMMER study [1] - The company will present detailed data at the International Lewy Body Dementia Conference (ILBDC) in January 2025 [2] - Cognition Therapeutics will review the topline efficacy and safety findings with the FDA in an end-of-Phase 2 meeting [3] About CT1812 - CT1812 is an experimental orally delivered small molecule oligomer antagonist that penetrates the blood-brain barrier and binds selectively to the sigma-2 (σ-2) receptor complex [10] - CT1812 is currently being investigated in clinical programs for Alzheimer’s disease, dementia with Lewy bodies (DLB), and dry age-related macular degeneration (dry AMD) [12] About Dementia with Lewy Bodies (DLB) - DLB is the second most common cause of dementia, affecting an estimated 1.4 million Americans [6] - The disease is caused by a buildup of the protein α-synuclein, which aggregates in Lewy bodies within brain neurons [6] - DLB disrupts biological processes affecting autonomic, digestive, cognitive, and motor systems, leading to symptoms such as hallucinations, delusions, and movement disorders [6]
Cognition Therapeutics (CGTX) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now
ZACKS· 2024-11-28 15:56
Core Viewpoint - Cognition Therapeutics, Inc. (CGTX) has experienced a bearish price trend recently, losing 9.6% over the past week, but the formation of a hammer chart pattern suggests a potential trend reversal as buying interest may be increasing [1][2]. Technical Analysis - The hammer chart pattern indicates a potential bottom in the stock price, suggesting that selling pressure may be exhausting and that bulls could be gaining control [2][4]. - A hammer pattern forms when there is a small candle body with a long lower wick, typically occurring during a downtrend, signaling a possible reversal if it appears at the bottom of the trend [3][4]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for CGTX, which is a bullish indicator that could lead to price appreciation in the near term [6]. - The consensus EPS estimate for CGTX has increased by 14.1% over the last 30 days, indicating that analysts expect better earnings than previously predicted [7]. - CGTX holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [8].
Cognition Therapeutics Announces all Participants have Completed their Final Visits in the Phase 2 SHIMMER Study of CT1812 in Dementia with Lewy Bodies
GlobeNewswire News Room· 2024-11-26 12:30
– Topline results in second dementia indication expected to be reported in December 2024 – PURCHASE, N.Y., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Cognition Therapeutics, Inc., (NASDAQ: CGTX), a clinical-stage company developing drugs that treat neurodegenerative disorders, announced that the last patient has completed their final clinic visit in the Phase 2 SHIMMER study of CT1812 in patients with mild-to-moderate dementia with Lewy bodies (DLB). The Company anticipates that topline results will be available in ...
Cognition Therapeutics' Analysis Correlates Biomarker Changes with Cognitive Benefit in Alzheimer's Population
GlobeNewswire News Room· 2024-11-25 12:30
Core Insights - Cognition Therapeutics, Inc. reported a 95% reduction in cognitive decline in patients treated with CT1812 who had lower plasma p-tau217 levels, indicating the drug's potential to modify the disease progression of Alzheimer's [1][2][3] Group 1: Study Findings - The Phase 2 'SHINE' study involved 153 adults with mild-to-moderate Alzheimer's disease, focusing on safety, tolerability, and cognitive function [4] - Participants with lower plasma p-tau217 levels experienced a 2.7-point improvement on the ADAS-Cog11 scale compared to placebo over six months [2][4] - Key biomarkers reflecting Alzheimer's disease pathology showed normalization in CT1812-treated participants, including reductions in GFAP, NfL, Aβ42, and Aβ40 [3][4] Group 2: Future Plans - The company plans to present comprehensive biomarker results at scientific conferences in 2025 and intends to meet with the FDA to discuss the findings and Phase 3 program design [3][4] - Ongoing recruitment for the START study and completed enrollment in the SHIMMER study indicate the company's commitment to advancing CT1812's clinical development [9][10] Group 3: About CT1812 - CT1812 is an experimental small molecule that targets the sigma-2 receptor complex, aiming to displace toxic Aβ oligomers and regulate cellular processes affected by Alzheimer's disease [8] - The median baseline level of plasma p-tau217 in the SHINE study was found to be 1.0 pg/mL, with participants categorized based on levels above or below this median [6][7]
Cognition Therapeutics(CGTX) - 2024 Q3 - Quarterly Report
2024-11-13 12:45
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40886 Cognition Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 13-436 ...
Cognition Therapeutics(CGTX) - 2024 Q3 - Quarterly Results
2024-11-13 12:37
Exhibit 99.1 Cognition Therapeutics Reports Financial Results for the Third Quarter 2024 and Provides Business and Clinical Update - CT1812 slowed cognitive decline by 95% in Alzheimer's disease patients with lower levels of plasma p-tau217 in a pre-specified analysis from Phase 2 SHINE study presented at CTAD - - On track to report topline results from Phase 2 SHIMMER study investigating CT1812 in patients with mild-to-moderate dementia with Lewy bodies (DLB) by end of 2024 - Purchase, NY – November 13, 20 ...
Cognition Therapeutics Reports Financial Results for the Third Quarter 2024 and Provides Business and Clinical Update
GlobeNewswire News Room· 2024-11-13 12:30
Clinical Trial Progress - CT1812 demonstrated a 95% slowing of cognitive decline on the ADAS-Cog11 scale and a 108% slowing on the MMSE scale in Alzheimer's disease patients with baseline p-tau217 levels below the median in the Phase 2 SHINE study [1][3] - The Phase 2 SHIMMER study investigating CT1812 in mild-to-moderate dementia with Lewy bodies (DLB) is on track to report topline results by the end of 2024 [1][2] - Enrollment continues in the Phase 2 START study for early Alzheimer's disease and the Phase 2 MAGNIFY study for geographic atrophy secondary to dry age-related macular degeneration [3] Financial Performance - Cash and cash equivalents as of September 30, 2024, were approximately $22.0 million, with $53.6 million in remaining grant funds from the NIA, sufficient to fund operations into Q2 2025 [4] - Research and development expenses decreased to $11.4 million in Q3 2024 from $11.7 million in Q3 2023, primarily due to lower costs with contract manufacturing organizations [5] - General and administrative expenses remained stable at $3.1 million in Q3 2024 compared to the same period in 2023 [6] - The company reported a net loss of $9.9 million, or $(0.25) per share, in Q3 2024, compared to a net loss of $6.7 million, or $(0.22) per share, in Q3 2023 [7] Strategic and Corporate Updates - The company plans to request an end-of-Phase 2 meeting with the FDA to review CT1812's safety, tolerability, and results from the SHINE study, aiming to align on a pivotal Phase 3 program design [2] - DLB, the second most common neurodegenerative disease, lacks disease-modifying treatments, and the SHIMMER study aims to provide safety and tolerability data for this under-studied population [2] - The company presented baseline characteristics of participants in the Phase 2 SHIMMER study at the CTAD conference, confirming enrollment of individuals with mild-to-moderate DLB [3]
Cognition Therapeutics Presents Poster of Participant Demographics from Phase 2 Dementia with Lewy Bodies Study at CTAD
GlobeNewswire News Room· 2024-10-31 20:15
- Patient characteristics are consistent with other DLB studies - PURCHASE, N.Y., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Cognition Therapeutics, Inc., (the “Company” or “Cognition”) (NASDAQ: CGTX), a clinical-stage company developing drugs that treat neurodegenerative disorders, presented participant baseline characteristics in the Phase 2 ‘SHIMMER’ study of mild-to-moderate dementia with Lewy bodies (DLB). The poster is being presented at the 17th Annual Clinical Trials on Alzheimer’s Disease (CTAD) conference ...
Cognition Therapeutics Announces Results of Pre-specified Analysis of SHINE Study Data Presented at CTAD
GlobeNewswire News Room· 2024-10-29 16:55
- Results show CT1812 dramatically slowed cognitive decline in patients with lower levels of plasma p-tau217, an important biomarker of Alzheimer's disease pathology - - ADAS-Cog 11 scores showed 95% slowing of decline - - MMSE scores showed 108% slowing of decline - - Pre-specified analysis from SHINE study presented by Dr. Michael Woodward at CTAD 2024 - - Company hosting investor webinar on October 30, 2024 to review findings - PURCHASE, N.Y., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Cognition Therapeutics, Inc ...