Cognition Therapeutics Q3 net loss narrows on higher grant income

Overview

• US neurodegenerative drug developer's Q3 net loss narrowed from prior year

• Research and development expenses rose on higher trial activity and professional fees

• Company expects cash to fund operations into Q4 2027

Outlook

• Top-line results from Phase 2 START Study in Alzheimer’s anticipated in H2 2027

• Cognition is preparing for a registrational Phase 3 trial of zervimesine in DLB

Result Drivers

• HIGHER TRIAL ACTIVITY - Co said increased research and development expenses were driven by higher clinical trial activity with contract research organizations

• LOWER ADMIN COSTS - Co said decrease in general and administrative expenses was primarily due to lower professional fees and compensation

• GRANT INCOME - Co reported grant income of $3 mln compared to $1.2 mln a year ago, partially offsetting higher operating expenses

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Cognition Therapeutics Inc is $3.00, about 339% above its November 4 closing price of $0.68

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)