Cognition Therapeutics drops on stock offering

Cognition Therapeutics

10/11/2022 13:28

** Cognition Therapeutics Inc's  CGTX.O  shares down ~1%
premarket after follow-on prices
    ** CGTX sells 5 mln shares at $1.20, raises $6 mln with
Cantor Fitzgerald as sole bookrunner  urn:newsml:reuters.com:*:nGNX6bVZ8q
    ** Shares on Weds closed down 14.8% at record low $1.21,
adding to 14.5% drop on Tues after co filed to sell up to ~5.6
mln shares
    ** In Sept, CGTX received $2 mln grant from National
Institutes of Health (NIH) to complete Alzheimer's drug trial
    ** CGTX went public in Oct 2021 after 3.8 mln share IPO
priced at $12
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))