Quarterly ResultMay 7, 2026, 04:18 PM
Cognition Therapeutics to meet FDA on May 20 for DLB psychosis
AI Summary
Cognition Therapeutics reported Q1 2026 financial results and announced a scheduled meeting with the FDA Division of Psychiatry on May 20, 2026, to discuss registrational plans for zervimesine in dementia with Lewy body (DLB) psychosis. The company anticipates topline results from its Phase 2 START study for Alzheimer's disease in 2027 and estimates sufficient cash to fund operations through Q2 2027. Net loss for the quarter significantly decreased to $4.6 million from $8.5 million year-over-year, driven by lower R&D and G&A expenses.
Key Highlights
- FDA meeting scheduled for May 20, 2026, to discuss registrational plans for zervimesine in DLB psychosis.
- Cash, cash equivalents, and restricted cash were $31.2 million as of March 31, 2026.
- Company estimates sufficient cash to fund operations and capital expenditures through Q2 2027.
- Q1 2026 net loss decreased to $4.6 million, or $(0.05) per share, from $8.5 million in Q1 2025.
- 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.
- Topline results from Phase 2 START study in Alzheimer's disease are anticipated in 2027.
- Obligated grant funds remaining from the National Institute of Aging totaled $25.6 million.