03:36 AM EDT, 03/12/2024 (MT Newswires) -- Cognition Therapeutics ( CGTX ) said late Monday it priced an underwritten public offering of about 6.6 million common shares at $1.75 a share for expected gross proceeds of about $11.5 million.

The underwriters have been granted a 30-day option to purchase up to 985,714 additional shares.

Net proceeds will be used to fund research, clinical development, process development and manufacturing, working capital, capital expenditures, and other general corporate purposes, the company said.

Closing of the offering is expected to occur on Thursday, subject to customary conditions.

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