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• Cash and Cash Equivalents: Approximately $25 million as of December 31, 2024.

• Total Obligated Grant Funds: $50 million remaining from the NIA.

• Research and Development Expenses: $41.7 million for the year ended December 31, 2024, up from $37.2 million in 2023.

• General and Administrative Expenses: $12.3 million for the year ended December 31, 2024, down from $13.5 million in 2023.

• Net Loss: $34 million or $0.86 per basic and diluted share for the year ending December 31, 2024, compared to a net loss of $25.8 million or $0.86 per share in 2023.

• ATM Facility Proceeds: Sold almost 20 million shares for gross proceeds of approximately $12.8 million.

• Warning! GuruFocus has detected 2 Warning Signs with CGTX.

Release Date: March 20, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Cognition Therapeutics Inc (NASDAQ:CGTX) reported strong efficacy signals from studies on zervimesine for Alzheimer's and dementia with Lewy bodies (DLB), indicating potential value for patients and investors.

• The company has strategically prioritized its resources by concluding the dry AMD study, allowing full focus on Alzheimer's and DLB programs.

• Cognition Therapeutics Inc (NASDAQ:CGTX) has developed a novel chemical process for manufacturing zervimesine, with provisional patent applications filed, supporting future clinical and commercial needs.

• The company has an active business development program and is exploring partnerships to secure non-dilutive funding for its clinical development efforts.

• Cognition Therapeutics Inc (NASDAQ:CGTX) has sufficient cash to fund operations into the fourth quarter of 2025, supported by a $50 million balance in obligated grant funds from the NIA.

Negative Points

• Cognition Therapeutics Inc (NASDAQ:CGTX) faces significant capital requirements to fund its Alzheimer's and DLB studies, with no guaranteed partnerships or funding deals confirmed yet.

• The company reported a net loss of $34 million for 2024, an increase from the previous year's loss of $25.8 million.

• Cognition Therapeutics Inc (NASDAQ:CGTX) needs to regain compliance with Nasdaq's minimum bid requirement by September 8, 2025, to avoid delisting.

• The decision to conclude the dry AMD study, despite passing a futility analysis, may raise concerns about the company's ability to manage multiple programs simultaneously.

• There is uncertainty around the exact dosing strategy for pivotal studies, as the company has not yet finalized the dose for zervimesine in Alzheimer's and DLB trials.