The following is a summary of the Cognition Therapeutics, Inc. (CGTX) Q1 2024 Earnings Call Transcript:
Financial Performance:
As of June 30, 2024, Cognition Therapeutics has cash and cash equivalents of approximately $28.5 million.
Total grant funds remaining from the NIA are $57.3 million.
The company estimates sufficient cash to fund operations into the second quarter of 2025.Reported a net loss of $7 million or $0.18 per share for Q2 2024.
Business Progress:
Advanced multiple Phase 2 clinical trials for CNS and retina degenerative conditions.
SHINE trial results showed a 39% slowing of cognitive decline in placebo-comparison, providing strong proof-of-concept.
Preparing longer and larger trials, including SHIMMER trial for dementia with Lewy bodies.
Further studies include the START trial for early Alzheimer's and MAGNIFY for dry age-related macular degeneration.
Continual dissemination of scientific findings through publications and presentations.
Opportunities:
Looking forward to continuing dialogue with pharmaceutical companies interested in CNS drugs, particularly for Alzheimer's disease.
Potential to become a part of the developing paradigm for dementia treatments.
Risks:
The SHINE trial did not achieve statistical significance on the ADAS-Cog 11 scale, highlighting challenges in demonstrating substantial clinical efficacy needed for regulatory success.
The 300-milligram dose of CT1812 in clinical trials experienced liver enzyme elevations, posing potential safety concerns.
More details: Cognition Therapeutics IR
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