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Investing.com -- Cognition Therapeutics Inc (NASDAQ:CGTX) stock surged 75% following the company’s end-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA) regarding its Alzheimer’s disease treatment candidate.
The clinical-stage neurodegenerative disease drug developer met with FDA officials on July 9 to review results from the Phase 2 study of its drug zervimesine (CT1812) and discuss plans for a Phase 3 program that would support a new drug application.
"We discussed the results from the Phase 2 ’SHINE’ Study in Alzheimer’s disease and our proposed Phase 3 plan with the FDA and believe we have a path forward for the development of zervimesine in the treatment of Alzheimer’s disease," said Lisa Ricciardi, president and CEO of Cognition.
The company expects to receive formal minutes from the FDA in August to confirm its development pathway for the potential Alzheimer’s treatment.
Investors reacted enthusiastically to the news of potential regulatory progress for zervimesine, which is being developed to treat neurodegenerative disorders. The significant stock movement reflects market optimism about the drug’s development timeline following the regulatory meeting.
Cognition Therapeutics is focused on advancing treatments for conditions affecting cognitive function, with Alzheimer’s disease representing a substantial market opportunity given the limited treatment options currently available for the progressive neurological disorder.
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