Cognition Therapeutics Inc. (CGTX), a clinical-stage neuroscience company, has two key catalysts to watch in the coming months.
The company's lead drug candidate is CT1812, an oral small molecule designed to penetrate the blood-brain barrier and bind selectively to the sigma-2 (s-2) receptor complex, a transmembrane protein known to be linked with neurodegenerative diseases and cancer development.
CT1812 is being developed for the treatment of Alzheimer's disease, dementia with Lewy bodies, and dry age-related macular degeneration (dry AMD). This compound works by protecting synapses from toxic proteins and other stressors to facilitate restoration of neuronal function.
Ongoing/Planned Trials with CT1812
-- A phase II trial of CT1812 in mild-to-moderate Alzheimer's disease, dubbed SEQUEL, is fully enrolled with 16 adults. Topline results from this study are due this week.
-- A phase II study of CT1812 in adults with mild to moderate Alzheimer's, dubbed SHINE, is underway. The study, designed to enroll up to 144 participants, is expected to complete enrollment by the end of this year.
-- A phase II trial of CT1812 in adults with mild cognitive impairment or early Alzheimer's disease, dubbed START, received FDA clearance as recently as February of this year. This trial is designed to enroll 540 patients and site activation is in progress.
-- A phase II trial of CT1812 in dementia with Lewy bodies, dubbed SHIMMER, designed to enroll 120 adults, is ongoing.
-- A phase II trial of CT1812 in geographic atrophy (GA) secondary to dry AMD was given FDA clearance in March of this year. Site activation for this trial, dubbed MAGNIFY, is expected to commence mid-2023.
Cash position
The company ended March 31, 2023, with cash and cash equivalents of about $38.8 million.
Funding for Trials
Cognition Therapeutics has received over $170 million in non-dilutive grant funding through key collaborations with the National Institute on Aging (NIA) and other thought-leading institutions, covering roughly 50% of ongoing R&D expenses.
Out of the overall funding, $83.5 million has been utilized by the company, while the remaining grant funding amounts to $87.5 million.
Cognition's common stock began trading on the Nasdaq Global Market on October 8, 2021, under the ticker symbol "CGTX", priced at $12 per share.
CGTX has traded in a range of $1.07 to $6.26 in the last 1 year. The stock closed Friday's trading at $2.75, up 3.77%.
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