Cognition Therapeutics Reports Year End 2022 Financial Results and Provides Business Update

COGNITION THERAPEUTICS INC

Completed enrollment in Phase 2 SEQUEL trial of CT1812 for mild-to-moderate Alzheimer's disease; topline results expected later 2023.
Received FDA clearance for Phase 2 START study of CT1812 in early Alzheimer's disease and IND clearance for Phase 2 trial in geographic atrophy.
Secured up to $35M equity commitment from Lincoln Park Capital and completed $6M follow-on public offering.
Cash and cash equivalents $41.6M as of Dec 31, 2022, expected to fund operations into second half of 2024.
Net loss for 2022 was $21.4M ($0.91 per share) compared to $11.7M ($3.13 per share) in 2021.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COGNITION THERAPEUTICS INC reported the year ended December 31, 2022 results: net income $21.4 million, EPS $0.91 per basic and diluted share.

Period: the year ended December 31, 2022
Net income: $21.4 million
EPS: $0.91 per basic and diluted share
Result: reported results

Exact text from the filing

For the year ended December 31, 2022, Cognition Therapeutics reported a net loss of $21.4 million, or $0.91 per basic and diluted share, compared to a net loss of $11.7 million, or $3.13 per basic and diluted share for 2021.

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Source: SEC EDGAR

accession 0001104659-23-035834

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