Logo

CGTX

Cognition Therapeutics, Inc.

CGTX

Cognition Therapeutics, Inc. • NASDAQ
$1.74 ▲ 5.45% (+0.09)
Market Cap $128.03 M
52w High $3.83
52w Low $0.22
Dividend Yield 0%
P/E -3.7
Volume 674.77K
Outstanding Shares 73.58M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $6.314M ▼ $-4.93M ▲ 0% $-0.06 ▲ $-4.869M ▲
Q2-2025 $0 $13.978M ▲ $-6.734M ▲ 0% $-0.11 ▲ $-6.67M ▲
Q1-2025 $0 $13.775M ▲ $-8.48M ▼ 0% $-0.14 ▲ $-8.43M ▼
Q4-2024 $0 $10.723M ▼ $-7.842M ▲ 0% $-0.17 ▲ $-7.766M ▲
Q3-2024 $0 $14.463M $-9.937M 0% $-0.25 $-9.864M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $39.823M ▲ $43.395M ▲ $6.866M ▼ $36.529M ▲
Q2-2025 $10.743M ▼ $19.622M ▼ $12.593M ▲ $7.029M ▼
Q1-2025 $16.428M ▼ $23.5M ▼ $11.23M ▼ $12.27M ▼
Q4-2024 $25.009M ▲ $30.234M ▲ $11.484M ▼ $18.75M ▲
Q3-2024 $22.011M $27.579M $13.097M $14.482M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.93M ▲ $-5.651M ▼ $0 $33.917M ▲ $28.266M ▲ $-5.651M ▼
Q2-2025 $-6.734M ▲ $-5.623M ▲ $0 $752K ▼ $-4.871M ▲ $-5.623M ▲
Q1-2025 $-8.48M ▼ $-9.877M ▼ $0 ▲ $1.296M ▼ $-8.581M ▼ $-9.877M ▼
Q4-2024 $-7.842M ▲ $-8.382M ▼ $-1K ▼ $11.381M ▲ $2.998M ▲ $-8.383M ▼
Q3-2024 $-9.937M $-6.851M $0 $329K $-6.522M $-6.851M

Five-Year Company Overview

Income Statement

Income Statement Cognition Therapeutics is still a classic early‑stage biotech story: it has essentially no product revenue yet and runs a steady operating loss as it funds research and clinical trials. Losses have been consistent rather than exploding, which hints at some spending discipline, but the company remains firmly unprofitable with negative earnings per share each year. The business model is clearly “invest now for potential future drugs,” not “earnings today.”

Balance Sheet

Balance Sheet The balance sheet is lean and simple. Most assets are held in cash, with very little in the way of physical assets and essentially no ongoing debt. Equity has turned positive since going public, but the overall asset base is small and has been edging down, reflecting cash use over time. Financially, the company depends heavily on its cash reserves and future capital raises or partnerships to support ongoing trials.

Cash Flow

Cash Flow Cash flow reflects what you would expect from a clinical‑stage biotech: money flows out to fund operations and trials, with no offsetting product inflows yet. Operating and free cash flow are both negative but relatively stable, and the company is not spending on large capital projects. The key question is how long the current cash can support the burn rate and whether additional funding will be available on reasonable terms.

Competitive Edge

Competitive Edge Competitively, Cognition is trying to stand out in a very difficult and crowded area: Alzheimer’s and other neurodegenerative diseases. Its edge is a differentiated scientific focus on the sigma‑2 receptor, rather than the more common plaque‑clearing approaches. This gives it a distinctive niche and some first‑mover know‑how, but it still competes indirectly with large pharmaceutical companies with deeper pockets and broader pipelines. Its position will ultimately be defined by clinical data quality and any strategic partnerships it can secure.

Innovation and R&D

Innovation and R&D Innovation is the core of the story. The lead drug candidate, CT1812, is an oral small molecule designed to protect neurons by modulating the sigma‑2 receptor and blocking toxic protein effects, with potential use across several diseases including Alzheimer’s, dementia with Lewy bodies, and dry age‑related macular degeneration. This is a novel mechanism with broad theoretical applicability, backed by a discovery platform that could create next‑generation compounds. The flip side is that the approach is still being clinically validated, so scientific and regulatory risk remain high.

Summary

Overall, Cognition Therapeutics is an early‑stage, research‑driven biotech with no commercial revenue yet, steady but manageable losses, and a balance sheet dominated by cash rather than debt. The company’s value hinges on whether its sigma‑2 receptor science translates into successful trial results and regulatory approvals across multiple neurodegenerative and eye disease indications. Until that picture is clearer, the story is primarily about clinical progress, trial readouts, and access to financing or partners, rather than near‑term financial performance.

NEWS

November 20, 2025 · 4:01 PM UTC

Cognition Therapeutics to Participate in 37th Annual Piper Sandler Healthcare Conference

Read more

November 13, 2025 · 7:36 AM UTC

Cognition Therapeutics Completes Enrollment in Phase 2 Study of Zervimesine (CT1812) in Early Alzheimer's Disease

Read more

November 6, 2025 · 7:30 AM UTC

Cognition Therapeutics Reports Financial Results for the Third Quarter 2025 and Highlights Progress Across Clinical Programs

Read more

September 3, 2025 · 7:30 AM UTC

Cognition Therapeutics Study of Zervimesine (CT1812) in Early Alzheimer's Disease Reaches 75% Enrollment Target

Read more

September 2, 2025 · 4:00 PM UTC

Cognition Therapeutics Closes $30 Million Registered Direct Offering to Two New Fundamental Institutional Investors, Including a Preeminent Global Investment Firm to Support Phase 3 Development of Zervimesine (CT1812)

Read more