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 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]
Why Is Penny Stock Cognition Therapeutics Trading Over 93% On Wednesday?