PURCHASE, N.Y. - Cognition Therapeutics, Inc. (NASDAQ:CGTX), a clinical-stage biopharmaceutical company, announced today the initiation of an underwritten public offering of its common stock.
The company, which specializes in the development of treatments for neurodegenerative disorders, also plans to provide the underwriter a 30-day option to purchase additional shares, up to 15% of the total number of shares sold in the offering.
The completion of the offering is contingent on market conditions, and there are no guarantees regarding the final terms or the offering's successful closure. Cognition Therapeutics will be the sole seller of the common stock in this offering.
Titan Partners Group, a division of American Capital Partners, is serving as the sole book-running manager for the offering. The sale will be conducted under a shelf registration statement on Form S-3, filed with the U.S. Securities and Exchange Commission (SEC) on December 23, 2022, and declared effective as of January 3, 2023.
Investors can access the preliminary prospectus supplement and accompanying prospectus on the SEC's website or by contacting Titan Partners Group. These documents will provide details about the terms of the offering.
Cognition Therapeutics is currently advancing its lead candidate CT1812 in clinical trials for Alzheimer's disease, dementia with Lewy bodies, and dry age-related macular degeneration. The company believes that CT1812, along with its portfolio of σ-2 receptor modulators, has the potential to regulate pathways affected in these diseases.
The forward-looking statements contained in the press release reflect the company's expectations as of today and involve risks and uncertainties. Actual results may vary significantly from those projected. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction where such an offer would be unlawful.
The information reported is based on a press release statement from Cognition Therapeutics, Inc.
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