Why Is Penny Stock Cognition Therapeutics Trading Over 93% On Wednesday?

Zinger Key Points

SHIMMER Phase 2 study showed CT1812 slowed neuropsychiatric decline by 82% and improved behavioral, functional and cognitive measures.
CT1812 reduced caregiver distress and attention fluctuation decline by 91% in DLB patients over six months compared to placebo.
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Cognition Therapeutics, Inc. CGTX revealed positive results from the exploratory Phase 2 SHIMMER study demonstrating that CT1812 produced strong therapeutic responses across behavioral, functional, cognitive and movement measures in patients with dementia with Lewy bodies (DLB).

The SHIMMER Phase 2 study enrolled 130 patients with mild-to-moderate DLB who were randomized to receive one of two oral doses of CT1812 or placebo daily for six months.

Results indicated the study met its primary endpoint of safety and tolerability. Data show that DLB patients treated with CT1812 for six months experienced improvement in behavioral, functional, cognitive and movement measures compared to placebo.

There was an 82% slowing in the total neuropsychiatric inventory (NPI), with a particularly strong reduction in anxiety, hallucinations and delusions in the CT1812 treated arms.

In addition, there was a marked reduction in caregiver distress, which suggests a positive impact on the day-to-day lives of those receiving the drug.

Participants treated with CT1812 experienced a slowing decline across all three cognitive measures compared to placebo, including fluctuations in attention, which declined by 91%.

In July, Cognition Therapeutics reported that participants in the proof-of-concept Phase 2 ‘SHINE' study who were treated with CT1812 for six months showed a consistent trend in cognitive improvement compared to placebo across all cognitive measures.

In addition, there were signs of improvement in functional measures.

As of September 30, 2024, cash and cash equivalents were approximately $22.0 million. Total grant funds remaining from the NIA were $53.6 million. The Company estimates it has sufficient cash to fund operations and capital expenditures into the second quarter of 2025.

Price Action: CGTX stock is up 93.45% at $0.88 at last check on Wednesday mid-morning.

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