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Cognition Therapeutics, Inc. (Nasdaq: CGTX) reported financial results for Q1 2024 and provided business updates. They completed enrollment of 130 participants in the SHIMMER study for Alzheimer's and DLB, with topline results expected mid-2024. The company also raised $11.9 million in a public offering and presented research findings at conferences.
Financially, the company has $34.7 million in cash and $62.3 million in grant funds. Research and development expenses increased to $10.6 million, leading to a net loss of $9.2 million for the quarter.
Cognition Therapeutics, Inc. completed enrollment in the Phase 2 SHIMMER study of CT1812 for mild-to-moderate dementia with Lewy bodies. Top-line results are expected in the second half of 2024. The study aims to develop a disease-modifying therapy for DLB by targeting Aβ and α-synuclein oligomers.
