Overview

* Cognition Therapeutics ( CGTX ) reports Q3 net loss of $4.9 mln, down from $9.9 mln last year

* Company completed $30 mln registered direct offering to fund zervimesine development

Outlook

* Cognition aligns with FDA on zervimesine registration path for Alzheimer's

* Cognition's $30 mln offering supports zervimesine's next development stage

Result Drivers

* R&D EXPENSES - Decrease driven by completion of SHINE and SHIMMER trials

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net -$4.93

Income mln

Q3 -$6.38

Income mln

From

Operatio

ns

Q3 $6.38

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Cognition Therapeutics Inc ( CGTX ) is $3.50, about 51.7% above its November 5 closing price of $1.69

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)