Cognition Therapeutics Reports Financial Results for the Second Quarter 2026 and Provides Business Update
Rhea-AI Summary
Cognition Therapeutics (NASDAQ: CGTX) reported unaudited financial results for the second quarter ended June 30, 2026, and provided a business update on its lead candidate zervimesine (CT1812) for neurodegenerative diseases.
According to Cognition Therapeutics, cash, cash equivalents and restricted cash were approximately $34.8 million, with $21.6 million in remaining obligated grant funds from the National Institute on Aging. The company estimates this liquidity will fund operations and capital expenditures into the fourth quarter of 2027.
Research and development expenses declined to $5.1 million from $11.5 million in the prior-year quarter, while general and administrative expenses were $2.6 million versus $2.5 million. Net loss narrowed to $3.9 million, or $(0.04) per share, from $6.7 million, or $(0.11) per share.
Business highlights included an FDA meeting on the planned Phase 3 DLB psychosis trial, a Notice of Allowance for a new composition-of-matter patent for zervimesine potentially extending protection through 2045, extension of the zervimesine DLB expanded access program through 2027, and presentation of a proposed Phase 3 design at AAIC.
Positive
- Cash and grant resources support runway into Q4 2027
- R&D expenses down to $5.1M from $11.5M YoY in Q2
- Q2 2026 net loss narrowed to $3.9M from $6.7M
- Notice of Allowance for zervimesine patent protection to 2045
- Remaining obligated NIA grant funds of $21.6M
- Expanded access program for zervimesine in DLB extended through 2027
Negative
- Continued net loss of $3.9M in Q2 2026
- Cash, cash equivalents and restricted cash decreased to $34.8M from $37.0M since year-end 2025
- Grant income declined to $3.5M from $7.1M YoY in Q2
- Accumulated deficit increased to $207.1M from $198.6M
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 07 | Q1 earnings report | Positive | +4.3% | Narrower loss, cash runway update, and planned FDA meeting supported the quarterly update. |
| Nov 06 | Q3 earnings report | Positive | -1.8% | FDA alignment, enrollment progress, and financing supported development despite a negative price reaction. |
| Aug 07 | Q2 earnings report | Positive | +11.4% | Positive clinical milestones and improved quarterly loss accompanied an 11.45% price increase. |
| May 07 | Q1 earnings report | Positive | -15.0% | Clinical progress and improved loss metrics accompanied a 15.04% price decline. |
| Mar 20 | Year-end earnings report | Positive | -5.2% | Phase 2 study progress and planned Phase 3 advancement accompanied a 5.18% decline. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings reactions were mixed, with two aligned positive moves and three divergent reactions.
Key Terms
registrational study regulatory
composition of matter patent regulatory
expanded access program regulatory
polymorphic crystalline form technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
PURCHASE, N.Y., Aug. 06, 2026 (GLOBE NEWSWIRE) -- Cognition Therapeutics, Inc. (NASDAQ: CGTX), a clinical-stage company developing product candidates that treat neurodegenerative disorders (the “Company” or “Cognition”), today reported financial results for the second quarter ended June 30, 2026, and provided a business update.
“The second quarter marked important progress across both our clinical and corporate priorities,” said Lisa Ricciardi, Cognition’s president and CEO. “Discussions with the Food and Drug Administration (FDA) brought clarity on key aspects of our planned Phase 3 trial for people with dementia with Lewy bodies (DLB) who experience psychosis (DLB psychosis). We are focused on initiating our Phase 3 study in mid-2027 with an improved tablet composition. In addition, the allowance of a new composition of matter patent meaningfully extends our intellectual property coverage for zervimesine and reinforces the long-term value of our pipeline.”
Business and Corporate Highlights
- Conducted a planned meeting with the FDA to discuss the design of a registrational study in DLB psychosis; Company to provide update on timing after alignment on endpoints
- Received a Notice of Allowance for a patent application covering composition of matter, production process, and therapeutic method of treating Alzheimer’s disease and DLB with a polymorphic crystalline form of zervimesine. Once issued, the patent would extend protection through 2045 before patent-term extension
- Extended the ongoing expanded access program for zervimesine in DLB through 2027 with funding from a second philanthropic donor
- Presented a poster at the Alzheimer’s Association International Convention (AAIC) outlining a proposed Phase 3 study design for zervimesine in DLB psychosis.
Second Quarter 2026 Financial Results
Cash, cash equivalents, and restricted cash equivalents as of June 30, 2026 were approximately
Research and development expenses were
General and administrative expenses were
The Company reported a net loss of
About Cognition Therapeutics
Cognition Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to helping millions of families seeking effective treatments for devastating neurodegenerative diseases through the development of novel, accessible therapies. The company has led pioneering research into the underlying mechanisms of degenerative nerve disorders. Our scientific approach builds on well-established biological pathways and translates across indications in which toxic oligomers drive disease progression, offering potential in dementia with Lewy bodies (DLB), Alzheimer’s disease, geographic atrophy, Parkinson’s, among others. The company’s lead candidate, zervimesine (CT1812), is an investigational once-daily oral therapy that has demonstrated promise in Phase 2 clinical trials in DLB and mild-to-moderate Alzheimer’s disease. Backed by nearly
About Zervimesine (CT1812)
Zervimesine (CT1812) is currently being studied in the Phase 2 START Study (NCT05531656) in patients with MCI and early Alzheimer’s disease. Phase 2 clinical studies have been completed in dementia with Lewy bodies (DLB), mild-to-moderate Alzheimer’s disease, and geographic atrophy secondary to dry AMD. Based in part on the strong efficacy signals observed in the Phase 2 SHIMMER study in DLB (NCT05225415), the company plans to advance zervimesine into a late-stage clinical trial for people with DLB psychosis. Zervimesine has been generally well tolerated in clinical studies to date.
The USAN Council has adopted zervimesine as the United States Adopted Name (USAN) for CT1812.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. All statements contained in this press release or made during the conference, other than statements of historical facts or statements that relate to present facts or current conditions, including but not limited to, statements regarding our product candidates, including zervimesine (CT1812), and any expected or implied benefits or results, including that initial clinical results observed with respect to zervimesine will be replicated in later trials and our clinical development plans, including statements regarding our planned FDA interactions and registrational program for zervimesine, the EAP, and any analyses of the results therefrom, are forward-looking statements. These statements, including statements relating to the timing and expected results of our clinical trials involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “might,” “will,” “should,” “expect,” “plan,” “aim,” “seek,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “forecast,” “potential” or “continue” or the negative of these terms or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond our control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: competition; our ability to secure new (and retain existing) grant funding; our ability to grow and manage growth, maintain relationships with suppliers and retain our management and key employees; our ability to successfully advance our current and future product candidates through development activities, preclinical studies and clinical trials and costs related thereto; uncertainties inherent in the results of preliminary data, pre-clinical studies and earlier-stage clinical trials being predictive of the results of early or later-stage clinical trials; the timing, scope and likelihood of regulatory filings and approvals, including regulatory approval of our product candidates; changes in applicable laws or regulations; the possibility that the we may be adversely affected by other economic, business or competitive factors, including ongoing economic uncertainty; our estimates of expenses and profitability; the evolution of the markets in which we compete; our ability to implement our strategic initiatives and continue to innovate our existing products; our ability to defend our intellectual property; the impacts of ongoing global and regional conflicts on our business, supply chain and labor force; our ability to maintain the listing of our common stock on the Nasdaq Global Market; and the risks and uncertainties described more fully in the “Risk Factors” section of our annual and quarterly reports filed with the Securities & Exchange Commission and are available at www.sec.gov. These risks are not exhaustive and we face both known and unknown risks. You should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. Moreover, we operate in a dynamic industry and economy. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties that we may face. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
| Cognition Therapeutics, Inc. Unaudited Selected Financial Data | ||||||||||||||||||||||||
| (in thousands, except share and per share data amounts) | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| Statements of Operations Data: | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Operating Expenses: | ||||||||||||||||||||||||
| Research and development | $ | 5,097 | $ | 11,481 | $ | 11,217 | $ | 22,267 | ||||||||||||||||
| General and administrative | 2,641 | 2,497 | 5,338 | 5,486 | ||||||||||||||||||||
| Total operating expenses | 7,738 | 13,978 | 16,555 | 27,753 | ||||||||||||||||||||
| Loss from operations | (7,738 | ) | (13,978 | ) | (16,555 | ) | (27,753 | ) | ||||||||||||||||
| Other income (expense): | ||||||||||||||||||||||||
| Grant income | 3,518 | 7,106 | 7,497 | 12,192 | ||||||||||||||||||||
| Other income, net | 291 | 141 | 564 | 355 | ||||||||||||||||||||
| Interest expense | (3 | ) | (3 | ) | (8 | ) | (8 | ) | ||||||||||||||||
| Total other income, net | 3,806 | 7,244 | 8,053 | 12,539 | ||||||||||||||||||||
| Net loss and comprehensive loss | $ | (3,932 | ) | $ | (6,734 | ) | $ | (8,502 | ) | $ | (15,214 | ) | ||||||||||||
| Net loss per share: | ||||||||||||||||||||||||
| Basic | $ | (0.04 | ) | $ | (0.11 | ) | $ | (0.09 | ) | $ | (0.24 | ) | ||||||||||||
| Diluted | $ | (0.04 | ) | $ | (0.11 | ) | $ | (0.09 | ) | $ | (0.24 | ) | ||||||||||||
| Weighted-average common shares outstanding: | ||||||||||||||||||||||||
| Basic | 90,624,381 | 63,690,945 | 89,911,806 | 62,169,748 | ||||||||||||||||||||
| Diluted | 90,624,381 | 63,690,945 | 89,911,806 | 62,169,748 | ||||||||||||||||||||
| As of | |||||
| (in thousands) | June 30, 2026 | December 31, 2025 | |||
| Balance Sheet Data: | |||||
| Cash, cash equivalents, and restricted cash equivalents | $ | 34,762 | $ | 37,000 | |
| Total assets | 38,896 | 48,390 | |||
| Total liabilities | 5,872 | 14,119 | |||
| Accumulated deficit | (207,149) | (198,647) | |||
| Total stockholders’ equity | 33,024 | 34,271 | |||
| Contact Information: Cognition Therapeutics, Inc. info@cogrx.com | Mike Moyer (investors) LifeSci Advisors mmoyer@lifesciadvisors.com |
This press release was published by a CLEAR® Verified individual.
