Key 2021 Financial Achievements
- Initial public offering: On
October 13 , Cognition closed its upsized IPO and, in mid-November, the underwriters’ overallotment option was exercised to purchase additional shares of the Company’s common stock, bringing aggregate gross proceeds to approximately$52 million . $45 million in NIA grants: Cognition was awarded a$30 million grant from theNational Institute on Aging (NIA) to support a planned Phase 2 study of CT1812 in dementia with Lewy bodies (DLB). The company received additional grant funding from the NIA to conduct human absorption, metabolism, and excretion (hAME) studies ($1.6 million ) and to supplement the ongoing Phase 2 SHINE (COG0201) study of CT1812 ($13.6 million ). In 2020, Cognition experienced a temporary delay in enrollment and patient treatment in the SHINE trial due to the COVID-19 pandemic. With the additional capital from the NIA, Cognition has recommenced enrollment in the trial.
Key 2021 Operational Achievements
- Management team:
Anthony Caggiano , M.D., Ph.D., was appointed to the position of chief medical officer and head of R&D. Additionally,Mary Hamby , Ph.D., was promoted to VP of research. Together, Drs. Caggiano and Hamby will oversee ongoing and planned trials of CT1812 for the treatment of mild-to-moderate Alzheimer’s disease, dry age-related macular degeneration (dry AMD) and DLB, as well as the identification and optimization of preclinical candidates. - Board composition: Cognition appointed
Ellen B. Richstone to the board of directors. She serves as chair of the audit committee.
Key 2021 Pipeline Achievements
- Foundational science: Findings supporting the role of sigma-2 (σ-2) receptors in the pathology of Parkinson’s disease (doi: 10.1002/jnr.24782) and in Alzheimer’s disease (doi:10.1111/jnc.15212) were published in
January 2021 . - Clinical trials: The SNAP (COG0104) clinical study was completed, was observed to demonstrate Aβ oligomer displacement as measured in the CSF, providing evidence of target engagement and confirmation of CT1812’s unique mechanism of action. The SPARC (COG0105) study was also completed in 2021, providing evidence that CT1812 slowed brain atrophy in patients with mild-to-moderate Alzheimer’s disease as assessed by brain volume. Complete results from both SNAP and SPARC will be presented at upcoming medical meetings.
- Expansion into new indications: Clinical programs were established in DLB and dry AMD and discussions with regulators and clinical sites commenced.
“2021 was a transformative year for
Key 2022 Goals and Initiatives
- Progress the Phase 2 Alzheimer’s
Clinical Trials Consortium (ACTC) study with 540 early-stage AD patients, assessing cognition and biomarkers. This trial is funded by an NIA$81 million grant. - Enroll the final cohort in the ongoing SHINE trial recruiting 120 patients with mild-to-moderate Alzheimer’s disease. An interim analysis demonstrated a clinically meaningful three-point change in ADAS-COG scores at day 185, and a statistically significant reduction in Aβ protein in the treated arm. This study is supported by a
$30 million grant from the NIA. - Expand the pipeline with Phase 2 dry AMD study and DLB studies, the latter of which is funded by a
$30 million grant from NIA. - Advance preclinical work in Parkinson’s disease evaluating two σ-2 modulators for clinical development. This project is partially funded by a grant from the
Michael J. Fox Foundation .
Beginning today,
About
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. All statements contained in this press release, other than statements of historical facts or statements that relate to present facts or current conditions, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “might,” “will,” “should,” “expect,” “plan,” “aim,” “seek,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” ”forecast,” “potential” or “continue” or the negative of these terms or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond our control. These and other risks and uncertainties are described more fully in the “Risk Factors” section of our most recent filings with the
Contact Information:
info@cogrx.com
asherwood@scientapr.com
lsher@tiberend.com
![](https://ml.globenewswire.com/media/N2I1Yzc5ODYtOTA1Yy00OTQzLThkMzMtMzg1ZWMxMmMyYmVjLTEwOTY0NDY=/tiny/Cognition-Therapeutics-Inc-.png)
2022 GlobeNewswire, Inc., source