Cognition Therapeutics, Inc. reported its financial results for the third quarter ended September 30, 2024, with cash and cash equivalents totaling approximately $22.0 million. The company also noted $53.6 million in remaining grant funds from the National Institute on Aging (NIA).
The company estimates that its current cash position is sufficient to fund operations and capital expenditures into the second quarter of 2025. Research and development expenses for the quarter were $11.4 million, a slight decrease from $11.7 million in the comparable period of 2023.
Cognition reported a net loss of $9.9 million, or $(0.25) per basic and diluted share, for the third quarter of 2024. The company highlighted the positive Phase 2 SHINE study results, showing a 95% slowing of cognitive decline in a prespecified Alzheimer's subgroup, and anticipates topline results from the Phase 2 SHIMMER study in dementia with Lewy bodies by the end of 2024.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.