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 53.6 million in remaining grant funds from the NIA, sufficient to fund operations into Q2 2025 [4] - Research and development expenses decreased to 11.7 million in Q3 2023, primarily due to lower costs with contract manufacturing organizations [5] - General and administrative expenses remained stable at 9.9 million, or 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 Reports Financial Results for the Third Quarter 2024 and Provides Business and Clinical Update