Cognition Therapeutics Inc ( CGTX ) rose 12.10% to $0.45 during after hours on Thursday, following a surge of 20.82% gain during regular hours. 

What Happened: The hike in Cognition Therapeutics’ stock price is attributed to the promising results from its Alzheimer’s drug, Zervimesine. The drug achieved a 95% efficacy rate in its Phase 2 trial. The trial also reached a 50% enrollment milestone, further boosting investor confidence in the drug’s potential. 

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Why It Matters: The Alzheimer’s drug market has been a hotbed of activity recently. InMed Pharmaceuticals Inc. ( INM ) , for instance, experienced a sudden surge in its stock price after releasing new preclinical data demonstrating the potential of its therapeutic candidate for Alzheimer’s disease.

Price in Action: According to Benzinga Pro data, Cognition Therapeutics' ( CGTX ) stock rose 20.82% to $0.41 during regular trading, followed by an additional 12.10% gain to $0.45 in after-hours trading.

Benzinga's Edge Stock Rankings indicates Cognition Therapeutics ( CGTX ) has momentum in the 3rd percentile. For the complete picture on the stock, click here.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.