COGNITION THERAPEUTICS INC

Listed Company

CGTXCIK 0001455365NasdaqEmerging GrowthBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-23.49M

Total Assets

$48.39M

Equity

$34.27M

Shares Out

89.35M

Op. Cash Flow

$-24.59M

Business

Cognition Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative small molecule therapeutics targeting age-related degenerative diseases of the central nervous system and retina. It develops lead candidate zervimesine (CT1812), an oral small molecule designed to prevent binding of pathogenic oligomers such as β‑amyloid and α‑synuclein to neuronal synapses, alongside additional small molecule candidates from proprietary libraries. Key business segments include clinical development programs in Alzheimer’s disease, dementia with Lewy bodies and retinal disorders. The company conducts multinational clinical trials and relies on collaborations, CROs and third‑party manufacturers and partners for distribution and development.

Summary from filing dated 2025-03-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	37	42	37	30	19
General and administrative	11	12	14	13	10
Total operating expenses	48	54	51	44	29
Loss from operations	−48	−54	−51	−44	−29
Grant income	23	20	25	22	17
Other income, net	919,000	666,000	158,000	−35,000	−88,000
Interest expense	−13,000	−25,000	−27,000	—	—
Loss on currency translation from liquidation of subsidiary	—	−195,000	—	—	—
Total other income, net	24	20	25	22	17
Net loss	−23	−34	−26	−21	−12
Foreign currency translation adjustment, including reclassifications	—	195,000	—	—	—
Total comprehensive loss	−23	−34	−26	−21	−12
Net loss per share, basic (in dollars per share)	−0.32	−0.86	−0.86	−0.91	−3.13
Net loss per share, diluted (in dollars per share)	−0.32	−0.86	−0.86	−0.91	−3.13
Weighted-average common shares outstanding, basic (in shares)	73	40	30	24	5
Weighted-average common shares outstanding, diluted (in shares)	73	40	30	24	5

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	37	25	30	42	55
Grant receivables	10	3	1	4	2
Prepaid expenses and other current assets	1	2	3	2	2
Restricted cash equivalents	190,000	—	—	—	—
Total current assets	48	30	34	48	59
Property and equipment, net	93,000	181,000	284,000	233,000	145,000
Right-of-use assets, operating leases	306,000	498,000	657,000	813,000	—
Total assets	48	30	35	50	59
Accounts payable	1	2	4	3	4
Accrued expenses	12	8	4	2	2
Deferred grant income, current	367,000	1	2	2	753,000
Operating lease liabilities, current	136,000	193,000	174,000	149,000	—
Other current liabilities	307,000	279,000	544,000	634,000	1
Total current liabilities	14	11	10	8	8
Operating lease liabilities, non-current	195,000	342,000	520,000	695,000	—
Total liabilities	14	11	11	10	8
Commitments and contingencies (Note 7)	—	—	—	—	—
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding at December 31, 2025 and December 31, 2024	—	—	—	—	—
Common stock, $0.001 par value, 250,000,000 shares authorized; 88,904,161 and 59,854,877 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	90,000	60,000	32,000	29,000	22,000
Additional paid-in capital	233	194	166	156	145
Accumulated deficit	−199	−175	−141	−115	−94
Total stockholders' equity	34	19	24	40	51
Total liabilities and stockholders' equity	48	30	35	50	59

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	36,000	107,000	96,000	83,000	93,000
Equity-based compensation	2	4	4	4	5
Amortization of right-of-use assets	192,000	159,000	156,000	152,000	—
Realized loss on sale of property and equipment	41,000	—	—	—	—
Grant receivables	−7	−1	2	−2	−1
Prepaid expenses and other assets	1	2	2	−1	21,000
Accounts payable and accrued expenses	4	2	2	−749,000	—
Deferred grant income and other liabilities	−699,000	−635,000	−2	3	501,000
Operating lease liabilities	−204,000	−159,000	−150,000	−121,000	—
Net cash used in operating activities	−25	−28	−16	−19	−4
Payments for property and equipment	—	−4,000	−147,000	−171,000	−27,000
Proceeds from sale of property and equipment	9,000	—	—	—	—
Net cash used in investing activities	9,000	−4,000	−147,000	−171,000	−27,000
Proceeds from the exercise of common stock options	71,000	82,000	—	2	276,000
Payment of employee withholding taxes on vested restricted stock units	−164,000	−128,000	—	—	—
Payments on loan payable	−353,000	−739,000	−811,000	−1	−268,000
Net cash provided by financing activities	37	24	5	6	53
Net increase (decrease) in cash, cash equivalents, and restricted cash equivalents	12	−5	−12	−13	50
Prepayment of insurance through third-party financing	381,000	475,000	721,000	838,000	1

Filings

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