Cognition Therapeutics (NASDAQ: CGTX), a clinical-stage company developing product candidates designed to treat neurodegenerative disorders, has closed on its previously announced underwritten public offering. The offering was comprised of 6,571,428 shares of its common stock. According to the announcement, each share of common stock was sold at $1.75 per share, resulting in approximately $11.5 million in gross proceeds before deductions, commissions and expenses. Cognition Therapeutics anticipates using the funds from the offering for research, clinical development, process development and manufacturing, working capital, capital expenditures and other general corporate purposes. Titan Partners Group, a division of American Capital Partners, acted as sole book-running manager for the offering.
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About Cognition Therapeutics Inc.
Cognition Therapeutics is a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative, small molecule therapeutics targeting age-related degenerative disorders of the central nervous system and retina. The company is currently investigating its lead candidate CT1812 in clinical programs in Alzheimer’s disease, dementia with Lewy bodies (“DLB”) and dry age-related macular degeneration (“dry AMD”). The company believes CT1812 and its pipeline of σ-2 receptor modulators can regulate pathways that are impaired in these diseases. Cognition Therapeutics also believes that targeting the σ-2 receptor with CT1812 represents a mechanism functionally distinct from other current approaches in clinical development for the treatment of degenerative diseases. For more information about the company, please visit www.CogRX.com.
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