Cognition Therapeutics, a Phase 2 biotech developing small molecule therapies for Alzheimer's and other CNS diseases, raised $45 million by offering 3.8 million shares at $12, within the range of $11 to $13. The company offered 0.4 million more shares than anticipated.
Cognition Therapeutics is developing small molecule therapies for age-related degenerative diseases and disorders of the CNS and the retina, with an initial aim to leverage its expertise in the sigma-2 receptor. Its lead program, CT1812, is a small molecule antagonist designed to penetrate the blood-brain barrier and bind selectively to the S2R complex. CT1812 is currently in enrolling patients in a Phase 2 trial in patients with mild-to-moderate Alzheimer's disease.
Cognition Therapeutics plans to list on the Nasdaq under the symbol CGTX. B. Riley Securities and Oppenheimer & Co. acted as joint bookrunners on the deal.
