Gold bars to be exempt from tariffs, White House clarifies
PURCHASE, N.Y. - Cognition Therapeutics, Inc. (NASDAQ:CGTX), a clinical-stage biotech company with a market capitalization of $19.2 million, announced Tuesday that its Phase 2 START Study for early Alzheimer’s disease has surpassed 50% enrollment. According to InvestingPro analysis, the company’s stock has shown strong momentum recently, gaining over 3% in the past week, despite facing significant challenges with a 55% decline over the past six months.
The study, designed to evaluate the company’s oral drug zervimesine (CT1812), aims to enroll up to 540 individuals with mild Alzheimer’s disease who will receive either the treatment or placebo for 18 months across approximately 50 U.S. sites.
The trial is being conducted in partnership with the Alzheimer’s Clinical Trials Consortium (ACTC) and is supported by $81 million in grant funding from the National Institute of Aging. InvestingPro data reveals the company maintains a healthy balance sheet with more cash than debt and a current ratio of 2.09, though it’s currently burning through cash at a considerable rate.
"This is an important milestone for the study and is a testament to the commitment of the investigators and site teams," said Christopher van Dyck, director of the Yale Alzheimer’s Disease Research Unit and project director of the START Study.
Participants in the study are in early stages of cognitive decline. According to Anthony Caggiano, Cognition’s Chief Medical Officer, the company expects "patients with less disease pathology may experience the most benefit from zervimesine treatment."
The company reported that in a previous Phase 2 SHINE Study, once-daily oral zervimesine treatment slowed cognitive decline by 38% compared to placebo. Participants with lower levels of the protein p-tau217 showed a more robust response with a 95% slowing of cognitive decline.
The START study will measure efficacy using validated tools including the Clinical Dementia Rating Scale Sum of Boxes and ADAS-Cog rating scales, along with biomarker and safety findings.
Zervimesine is being developed to potentially interrupt the toxic effects of proteins that accumulate in the brains of patients with neurodegenerative disorders like Alzheimer’s disease and dementia with Lewy bodies.
The information in this article is based on a press release statement from Cognition Therapeutics. Analysts maintain a bullish outlook on the company, with price targets ranging from $2 to $4 per share. For deeper insights into CGTX’s financial health and growth prospects, including 11 additional ProTips and comprehensive analysis, check out the full research report available on InvestingPro.
In other recent news, Cognition Therapeutics announced significant results from its Phase 2 SHINE study, evaluating zervimesine in treating Alzheimer’s disease. The study showed reductions in plasma biomarkers linked to Alzheimer’s, particularly in patients with lower levels of the protein p-Tau217. Additionally, the company reported promising outcomes from the Phase 2 MAGNIFY trial, where zervimesine led to a slower growth rate of geographic atrophy lesions in patients with dry age-related macular degeneration. Despite these positive results, Cognition has decided not to pursue zervimesine’s development for this condition due to resource allocation considerations. Meanwhile, the company is advancing plans for a Phase 3 program for Alzheimer’s following an end-of-Phase 2 meeting with the FDA scheduled for July 2025. H.C. Wainwright recently adjusted its price target for Cognition Therapeutics to $3 while maintaining a Buy rating, reflecting anticipated equity dilution. The firm highlighted the clinical potential of zervimesine, despite a strategic shift in its development. Cognition Therapeutics also received a philanthropic donation to support an expanded access program for dementia with Lewy bodies, utilizing zervimesine. This program will initially accommodate around 30 individuals, with the possibility of expansion based on funding and drug supply.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.