Cognition Therapeutics rises on FDA nod to begin mid-stage trials for eye drug

Cognition Therapeutics

15/03/2023 12:28

** Shares of drug developer Cognition Therapeutics  CGTX.O 
rise ~5% to $1.69 premarket
    ** Co says the U.S. Food and Drug Administration (FDA) has
cleared the application to begin mid-stage trials for its
experimental oral drug to treat a disease that leads to the loss
of central vision   
    ** CGTX plans to begin mid-stage trials for the drug
candidate, CT1812, this year  
    ** CT1812 is being tested to treat geographic atrophy (GA)
secondary to dry age-related macular degeneration (dry AMD),
which causes degeneration of the part of the eye responsible for
central vision  
    ** Up to Tuesday's close, CGTX fell ~38% in the past 12
months

 (Reporting by Mariam Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))