DelistingNov 5, 2026, 06:11 AM
Cognition Therapeutics Faces Nasdaq Delisting Warning; Q3 Loss Narrows
AI Summary
Cognition Therapeutics Inc. received a deficiency letter from Nasdaq indicating its common stock has traded below the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company has 180 days, until May 3, 2027, to regain compliance. The company also reported its third-quarter financial results, showing a net loss of $4.1 million, an improvement from the $4.9 million net loss in the same period last year. Cash reserves were approximately $31.5 million, estimated to fund operations into the fourth quarter of 2027. Additionally, the company announced progress in its clinical trials for zervimesine and received a new patent.
Key Highlights
- Cognition Therapeutics received a deficiency letter from Nasdaq for failing to maintain a minimum bid price of $1.00 per share for 30 consecutive business days.
- The company has until May 3, 2027, to regain compliance by having its stock close at $1.00 or more for 10 consecutive business days.
- A second 180-day compliance period may be granted if the company meets other listing requirements and plans a reverse stock split.
- The company reported a net loss of $4.1 million, or $(0.04) per share, for Q3 2026, compared to a net loss of $4.9 million, or $(0.06) per share, in Q3 2025.
- Cash, cash equivalents, and restricted cash were approximately $31.5 million as of September 30, 2026, with an estimated runway into Q4 2027.
- Research and development expenses increased to $5.1 million in Q3 2026 from $3.8 million in Q3 2025.
- The company received an issued patent covering a novel crystalline form of zervimesine with a natural expiration of 2045.
Price Impact
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