Cognition Therapeutics rises as dementia drug meets main goal in mid-stage trial

Cognition Therapeutics

18/12/2024 12:45

** Shares of Cognition Therapeutics  CGTX.O  rise 76.7% to
81 cents premarket 
    ** Drug developer says its experimental oral drug, CT1812,
met the main goal of safety and tolerability in a mid-stage
study  
    ** The study enrolled 130 patients with mild-to-moderate
dementia with Lewy bodies - a type of dementia that affects
thinking, movement, behavior, and mood
     ** Co says "patients treated with CT1812 for six months
experienced improvement in behavioral, functional, cognitive and
movement measures compared to placebo"
    ** Adds, "there was a marked reduction in caregiver
distress, which suggests a positive impact on the day-to-day
lives of those receiving the drug" 
    ** Says detailed data will be presented at a medical
conference in January 2025 
    ** Says expediting plans to advance CT1812 into late-stage
trials
    ** Up to last close, stock down 75.4% YTD  

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com))