Cognition Therapeutics, Inc. released its earnings for the second quarter ended June 30, 2025, reporting a GAAP net loss per share of $(0.11), which missed consensus estimates by $(0.005). This compares to a net loss per share of $(0.18) in the prior year period.
GAAP grant income for Q2 2025 stood at $7.1 million, outperforming analyst expectations of no recognized GAAP revenue. Total cash, cash equivalents, and restricted cash equivalents declined to $11.6 million as of June 30, 2025, down from $25.0 million at December 31, 2024.
Management indicated that current cash and committed grants are expected to fund operations and capital needs into the second quarter of 2026, assuming grants are drawn as planned. The company also highlighted over 50% patient enrollment in its Phase 2 START trial for Alzheimer's disease and the initiation of an expanded access program for dementia with Lewy bodies.
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