Overview
Cognition Therapeutics 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/Miss | Actual | Consensus Estimate |
Q3 Net Income | -$4.93 mln | ||
Q3 Income From Operations | -$6.38 mln | ||
Q3 Operating Expenses | $6.38 mln |
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 is $3.50, about 51.7% above its November 5 closing price of $1.69
Press Release: ID:nGNX6S89Jj
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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.)