COGNITION THERAPEUTICS INC CGTX
We are a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative, small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system, or CNS, and retina. Currently available therapies for these diseases are limited, with many diseases having no approved therapies or treatments. Our goal is to develop disease-modifying treatments for patients with these degenerative disorders.
Our lead product candidate, zervimesine, also known as CT1812, is an orally delivered, small molecule designed to protect neuronal synapses by preventing the binding of oligomers of pathogenic proteins including β-amyloid, or Aβ and ɑ-synuclein. These and similar protein oligomers have been linked to the progression of degenerative diseases such as Alzheimer's disease, or AD, and dementia with Lewy bodies, or DLB.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| R&D | $37.2M | $41.7M | $37.2M | $30.3M | $18.6M | $12.9M | — |
| SG&A | $10.6M | $12.3M | $13.5M | $13.2M | $10.0M | $4.5M | — |
| Total operating expenses | $47.8M | $54.0M | $50.7M | $43.6M | $28.6M | $17.4M | — |
| Operating income | -$47.8M | -$54.0M | -$50.7M | -$43.6M | -$28.6M | -$17.4M | — |
| Interest expense | — | — | $27.0K | $28.0K | $893.0K | $1.8M | — |
| Pre-tax income | -$23.5M | -$34.0M | -$25.8M | -$21.4M | -$11.7M | — | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | — | — |
| Net income | -$23.5M | -$34.0M | -$25.8M | -$21.4M | -$11.7M | -$7.8M | — |
| EPS, basic | -0.32 | -0.86 | -0.86 | -0.91 | -3.13 | -23.76 | — |
| EPS, diluted | -0.32 | -0.86 | -0.86 | -0.91 | -3.13 | -23.76 | — |
| Shares, diluted (wtd. avg.) | 72.8M | 39.7M | 30.0M | 23.6M | 5.2M | 508,112 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $36.8M | $25.0M | $29.9M | $41.6M | $54.7M | $5.2M | $2.9M |
| Total current assets | $48.0M | $29.6M | $34.2M | $47.6M | $59.0M | $6.9M | — |
| Property, plant and equipment | $93.0K | $181.0K | $284.0K | $233.0K | $145.0K | $211.0K | — |
| Total assets | $48.4M | $30.2M | $35.2M | $50.4M | $59.1M | $7.1M | — |
| Accounts payable | $1.1M | $2.0M | $3.7M | $3.2M | $4.2M | $2.0M | — |
| Total current liabilities | $13.9M | $11.1M | $10.2M | $7.8M | $7.9M | $3.2M | — |
| Total liabilities | $14.1M | $11.5M | $10.7M | $10.2M | $7.9M | $19.9M | — |
| Retained earnings | -$198.6M | -$175.2M | -$141.2M | -$115.4M | -$94.0M | -$68.2M | — |
| Total equity | $34.3M | $18.8M | $24.5M | $40.2M | $51.3M | -$68.2M | -$58.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$24.6M | -$28.5M | -$16.0M | -$18.5M | -$3.6M | -$3.4M | — |
| Depreciation and amortisation | $36.0K | $107.0K | $96.0K | $83.0K | $93.0K | $98.0K | — |
| Stock-based compensation | $2.1M | $3.7M | $4.4M | $3.6M | $5.2M | $475.0K | — |
| Capital expenditure | — | $4.0K | $147.0K | $171.0K | $27.0K | $10.0K | — |
| Investing cash flow | $9.0K | -$4.0K | -$147.0K | -$171.0K | -$27.0K | -$10.0K | — |
| Financing cash flow | $36.6M | $23.6M | $4.5M | $5.5M | $53.2M | $5.8M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-034880.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | -$7.8M | -$11.7M | -$21.4M | -$25.8M | -$34.0M | -$23.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Other event Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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