Cognition Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 07:46 am EDT
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Cognition Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 6.75 million compared to USD 6.63 million a year ago. Basic loss per share from continuing operations was USD 0.22 compared to USD 0.29 a year ago. Diluted loss per share from continuing operations was USD 0.22 compared to USD 0.29 a year ago.
For the nine months, net loss was USD 17.65 million compared to USD 16.22 million a year ago. Basic loss per share from continuing operations was USD 0.59 compared to USD 0.71 a year ago. Diluted loss per share from continuing operations was USD 0.59 compared to USD 0.71 a year ago.
Cognition Therapeutics, Inc. is a clinical-stage biopharmaceutical company engaged in the discovery and development of small molecule therapeutics targeting age-related degenerative disorders of the central nervous system and retina. The Company is investigating its lead candidate CT1812 in clinical programs in Alzheimer's disease, dementia with Lewy bodies and dry age-related macular degeneration (dry AMD). Its lead product candidate, CT1812, is an investigational orally delivered, small molecule modulator that penetrates the blood-brain and blood-retina barriers and binds selectively to the sigma-2 receptor (S2R) complex; and through its modulation of S2R restores normal function of synapses, as well as critical cellular processes such as autophagy, cholesterol biosynthesis, vesicle trafficking, progesterone signaling, lipid membrane-bound protein trafficking and receptor stabilization at the cell surface. It is developing other product candidates in the area of synucleinopathies.