$CGTX

COGNITION THERAPEUTICS INC

CIK:0001455365|SEC Filings

STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating Expenses:
Research and development	$ 5,097	$ 11,481	$ 11,217	$ 22,267
General and administrative	2,641	2,497	5,338	5,486
Total operating expenses	7,738	13,978	16,555	27,753
Loss from operations	(7,738)	(13,978)	(16,555)	(27,753)
Other income (expense):
Grant income	3,518	7,106	7,497	12,192
Other income, net	291	141	564	355
Interest expense	(3)	(3)	(8)	(8)
Total other income, net	3,806	7,244	8,053	12,539
Net loss and comprehensive loss	$ (3,932)	$ (6,734)	$ (8,502)	$ (15,214)
Net loss per share:
Net loss per share, basic (in dollars per share)	$ (0.04)	$ (0.11)	$ (0.09)	$ (0.24)
Net loss per share, diluted (in dollars per share)	$ (0.04)	$ (0.11)	$ (0.09)	$ (0.24)
Weighted-average common shares outstanding:
Weighted-average common shares outstanding, basic (in shares)	90,624,381	63,690,945	89,911,806	62,169,748
Weighted-average common shares outstanding, diluted (in shares)	90,624,381	63,690,945	89,911,806	62,169,748

STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (8,502)	$ (15,214)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	21	7
Equity-based compensation	649	1,207
Amortization of right-of-use assets	102	99
Gain on lease modification	(21)
Loss on disposal of property and equipment	5
Changes in operating assets and liabilities:
Grant receivables	6,972	(3,599)
Prepaid expenses and other assets	482	653
Accounts payable and accrued expenses	(8,608)	539
Deferred grant income and other liabilities	410	916
Operating lease liabilities	(105)	(108)
Net cash used in operating activities	(8,595)	(15,500)
Cash flows from investing activities:
Payments for property and equipment	(20)
Net cash used in investing activities	(20)
Cash flows from financing activities:
Proceeds from the exercise of common stock options	44
Payment of employee withholding taxes on vested restricted stock units	(175)	(51)
Payments on loan payable	(229)	(238)
Net cash provided by financing activities	6,377	2,048
Net decrease in cash, cash equivalents and restricted cash equivalents	(2,238)	(13,452)
Cash, cash equivalents, and restricted cash equivalents
Cash, cash equivalents, and restricted cash equivalents - beginning of period	37,000	25,009
Cash, cash equivalents, and restricted cash equivalents - end of period	34,762	11,557
Supplemental disclosures of non-cash financing activities:
Operating lease assets and liabilities recognized during the period	306
At The Market Offering
Cash flows from financing activities:
Proceeds from issuance of common stock under the ATM sales agreements, net of commissions and allocated fees	$ 6,737	$ 2,337

BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 34,012	$ 36,810
Grant receivables	2,951	9,923
Prepaid expenses and other current assets	586	1,068
Restricted cash equivalents	750	190
Total current assets	38,299	47,991
Property and equipment, net	87	93
Right-of-use assets, operating leases	510	306
Total assets	38,896	48,390
Current liabilities:
Accounts payable	673	1,119
Accrued expenses	3,833	11,995
Deferred grant income, current	777	367
Operating lease liabilities, current	89	136
Other current liabilities	78	307
Total current liabilities	5,450	13,924
Operating lease liabilities, non-current	422	195
Total liabilities	5,872	14,119
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2026 and December 31, 2025
Common stock, $0.001 par value, 250,000,000 shares authorized; 95,055,773 and 88,904,161 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	95	90
Additional paid-in capital	240,078	232,828
Accumulated deficit	(207,149)	(198,647)
Total stockholders' equity	33,024	34,271
Total liabilities and stockholders' equity	$ 38,896	$ 48,390