Quarterly ResultMay 7, 2026, 04:36 PM
Cognition Therapeutics Q1 Net Loss $(4.6)M; FDA Meeting Set for DLB Drug
AI Summary
Cognition Therapeutics reported a reduced net loss of $(4.6) million, or $(0.05) per share, for the first quarter ended March 31, 2026, compared to a net loss of $(8.5) million, or $(0.14) per share, in the prior year. The company also announced a scheduled meeting with the FDA on May 20, 2026, to discuss registrational plans for zervimesine in dementia with Lewy body (DLB) psychosis. Cash and equivalents stood at $31.2 million, providing a runway through Q2 2027.
Key Highlights
- Net loss for Q1 2026 was $(4.6) million, an improvement from $(8.5) million in Q1 2025.
- Basic and diluted net loss per share was $(0.05) for Q1 2026, down from $(0.14) in Q1 2025.
- Cash, cash equivalents, and restricted cash were $31.2 million as of March 31, 2026.
- Company estimates sufficient cash to fund operations through the second quarter of 2027.
- Research and development expenses decreased to $6.1 million in Q1 2026 from $10.8 million in Q1 2025.
- General and administrative expenses decreased to $2.7 million in Q1 2026 from $3.0 million in Q1 2025.
- FDA meeting scheduled for May 20, 2026, to discuss registrational plans for zervimesine in DLB psychosis.
- Topline results from Phase 2 START study in Alzheimer's disease are anticipated in 2027.