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About

Cognition Therapeutics, Inc., a clinical-stage biopharmaceutical company, engages in the discovery and development of small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina. Its lead product candidate is CT1812, an orally delivered molecule modulator designed to penetrate the blood-brain barrier and bind selectively to the S2R complex, which is in Phase 2 clinical trial for the treatment of Alzheimer's disease, as well as geographic atrophy secondary to dry age-related macular degeneration and synucleinopathies, such as dementia with Lewy bodies. Cognition Therapeutics, Inc. was incorporated in 2007 and is based in Purchase, New York.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Biotechnology Market Cap 96.66M
Enterprise Value 52.85M Income -27.99M Sales —
Book/sh 0.41 Cash/sh 0.45 Dividend Yield —
Payout 0.00% Employees 25 IPO —
P/E — Forward P/E -3.27 PEG —
P/S — P/B 2.64 P/C —
EV/EBITDA -1.18 EV/Sales — Quick Ratio 6.20
Current Ratio 6.45 Debt/Eq 1.04 LT Debt/Eq —
EPS (ttm) -0.47 EPS next Y -0.34 EPS Growth —
Revenue Growth — Earnings 2025-11-12 15:00 ROA -78.99%
ROE -109.73% ROIC — Gross Margin 0.00%
Oper. Margin 0.00% Profit Margin 0.00% Shs Outstand 88.27M
Shs Float 81.45M Short Float 8.84% Short Ratio 7.28
Short Interest — 52W High 3.83 52W Low 0.22
Beta 1.25 Avg Volume 923.06K Volume 407.41K
Target Price $3.50 Recom None Prev Close $1.04
Price $1.09 Change 5.29%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$3.50
Mean price target
2. Current target
$1.12
Latest analyst target
3. DCF / Fair value
$-6.18
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$1.12
Low
$3.00
High
$4.00
Mean
$3.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-12-04 reit HC Wainwright & Co. Buy → Buy $3
2025-11-21 reit B. Riley Securities Buy → Buy $3
2025-11-19 reit HC Wainwright & Co. Buy → Buy $3
2025-08-08 main Chardan Capital Buy → Buy $4
2025-06-26 reit HC Wainwright & Co. Buy → Buy $3
2025-05-27 main HC Wainwright & Co. Buy → Buy $3
2025-05-08 main Chardan Capital Buy → Buy $4
2025-03-24 main HC Wainwright & Co. Buy → Buy $5
2025-03-21 main Chardan Capital Buy → Buy $8
2025-02-26 main Chardan Capital Buy → Buy $11
2024-12-19 up B. Riley Securities Neutral → Buy $2
2024-12-19 main Chardan Capital Buy → Buy $11
2024-12-19 main HC Wainwright & Co. Buy → Buy $6
2024-11-27 reit HC Wainwright & Co. Buy → Buy $5
2024-11-15 main Chardan Capital Buy → Buy $11
2024-11-04 reit HC Wainwright & Co. Buy → Buy $5
2024-10-31 main Chardan Capital Buy → Buy $11
2024-08-12 main HC Wainwright & Co. Buy → Buy $5
2024-08-06 down B. Riley Securities Buy → Neutral $1
2024-08-01 main HC Wainwright & Co. Buy → Buy $7
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 800000 — — Stock Award(Grant) at price 0.00 per share. RICCIARDI LISA Chief Executive Officer — 2026-02-03 00:00:00 D
1 200000 — — Stock Award(Grant) at price 0.00 per share. DOYLE JOHN BRENDAN Chief Financial Officer — 2026-02-03 00:00:00 D
2 400000 — — Stock Award(Grant) at price 0.00 per share. CAGGIANO ANTHONY Officer — 2026-02-03 00:00:00 D
3 75000 — — Stock Award(Grant) at price 0.00 per share. RICCIARDI LISA Chief Executive Officer — 2025-12-18 00:00:00 D
4 30000 — — Stock Award(Grant) at price 0.00 per share. DOYLE JOHN BRENDAN Chief Financial Officer — 2025-12-18 00:00:00 D
5 65000 — — Stock Award(Grant) at price 0.00 per share. CAGGIANO ANTHONY Officer — 2025-12-18 00:00:00 D
6 7729 6492 — Conversion of Exercise of derivative security at price 0.84 per share. FLETCHER AARON G.L. Director and Beneficial Owner of more than 10% of a Class of Security — 2025-09-19 00:00:00 D
7 75000 — — Stock Award(Grant) at price 0.00 per share. RICCIARDI LISA Chief Executive Officer — 2025-07-29 00:00:00 D
8 30000 — — Stock Award(Grant) at price 0.00 per share. DOYLE JOHN BRENDAN Chief Financial Officer — 2025-07-29 00:00:00 D
9 65000 — — Stock Award(Grant) at price 0.00 per share. CAGGIANO ANTHONY Officer — 2025-07-29 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems0.000.000.000.00
TaxRateForCalcs0.000.000.000.00
NormalizedEBITDA-33.48M-25.51M-21.13M-13.38M
TotalUnusualItems-195.00K0.000.002.65M
TotalUnusualItemsExcludingGoodwill-195.00K0.000.002.65M
NetIncomeFromContinuingOperationNetMinorityInterest-33.97M-25.79M-21.40M-11.72M
ReconciledDepreciation266.00K252.00K235.00K93.00K
EBITDA-33.68M-25.51M-21.13M-10.73M
EBIT-33.95M-25.76M-21.37M-10.82M
NetInterestIncome-25.00K-27.00K-28.00K-893.00K
InterestExpense25.00K27.00K28.00K893.00K
NormalizedIncome-33.78M-25.79M-21.40M-14.37M
NetIncomeFromContinuingAndDiscontinuedOperation-33.97M-25.79M-21.40M-11.72M
TotalExpenses34.42M25.92M21.33M11.15M
TotalOperatingIncomeAsReported-53.97M-50.72M-43.55M-28.60M
DilutedAverageShares39.73M30.03M23.64M5.19M
BasicAverageShares39.73M30.03M23.64M5.19M
DilutedEPS-0.86-0.86-0.91-3.13
BasicEPS-0.86-0.86-0.91-3.13
DilutedNIAvailtoComStockholders-33.97M-25.79M-21.40M-16.25M
NetIncomeCommonStockholders-33.97M-25.79M-21.40M-16.25M
PreferredStockDividends4.53M
NetIncome-33.97M-25.79M-21.40M-11.72M
NetIncomeIncludingNoncontrollingInterests-33.97M-25.79M-21.40M-11.72M
NetIncomeContinuousOperations-33.97M-25.79M-21.40M-11.72M
PretaxIncome-33.97M-25.79M-21.40M-11.72M
OtherIncomeExpense471.00K158.00K-35.00K328.00K
OtherNonOperatingIncomeExpenses666.00K158.00K-35.00K-2.32M
SpecialIncomeCharges-195.00K0.000.00443.00K
GainOnSaleOfBusiness-195.00K0.00
OtherSpecialCharges-443.00K
GainOnSaleOfSecurity2.21M
NetNonOperatingInterestIncomeExpense-25.00K-27.00K-28.00K-893.00K
InterestExpenseNonOperating25.00K27.00K28.00K893.00K
OperatingIncome-34.42M-25.92M-21.33M-11.15M
OperatingExpense34.42M25.92M21.33M11.15M
OtherOperatingExpenses-19.55M-24.80M-22.22M-17.45M
ResearchAndDevelopment41.68M37.20M30.32M18.57M
SellingGeneralAndAdministration12.29M13.53M13.23M10.03M
GeneralAndAdministrativeExpense12.29M13.53M13.23M10.03M
OtherGandA12.29M13.53M13.23M10.03M
TotalRevenue0.000.000.000.00
OperatingRevenue0.000.000.000.00
Line Item2024-12-312023-12-312022-12-312021-12-31
OrdinarySharesNumber59.85M32.17M28.99M22.23M
ShareIssued59.85M32.17M28.99M22.23M
TotalDebt814.00K1.24M1.48M0.00
TangibleBookValue18.75M24.47M40.25M51.27M
InvestedCapital19.03M25.02M40.88M51.27M
WorkingCapital18.41M24.05M39.85M51.13M
NetTangibleAssets18.75M24.47M40.25M51.27M
CapitalLeaseObligations535.00K694.00K844.00K0.00
CommonStockEquity18.75M24.47M40.25M51.27M
TotalCapitalization18.75M24.47M40.25M51.27M
TotalEquityGrossMinorityInterest18.75M24.47M40.25M51.27M
StockholdersEquity18.75M24.47M40.25M51.27M
GainsLossesNotAffectingRetainedEarnings0.00-195.00K-199.00K-198.00K
OtherEquityAdjustments-195.00K-199.00K-198.00K
RetainedEarnings-175.16M-141.19M-115.40M-94.00M
AdditionalPaidInCapital193.85M165.83M155.82M145.45M
CapitalStock60.00K32.00K29.00K22.00K
CommonStock60.00K32.00K29.00K22.00K
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest11.48M10.69M10.18M7.86M
TotalNonCurrentLiabilitiesNetMinorityInterest342.00K520.00K2.38M0.00
PreferredSecuritiesOutsideStockEquity0.00
DerivativeProductLiabilities0.00
NonCurrentAccruedExpenses0.00
NonCurrentDeferredLiabilities0.001.69M0.00
NonCurrentDeferredRevenue0.001.69M0.00
LongTermDebtAndCapitalLeaseObligation342.00K520.00K695.00K0.00
LongTermCapitalLeaseObligation342.00K520.00K695.00K0.00
CurrentLiabilities11.14M10.17M7.79M7.86M
OtherCurrentLiabilities1.19M
CurrentDeferredLiabilities1.07M1.70M1.70M753.00K
CurrentDeferredRevenue1.07M1.70M1.70M753.00K
CurrentDebtAndCapitalLeaseObligation472.00K718.00K783.00K
CurrentCapitalLeaseObligation193.00K174.00K149.00K0.00
CurrentDebt279.00K544.00K634.00K
OtherCurrentBorrowings279.00K544.00K634.00K
PensionandOtherPostRetirementBenefitPlansCurrent1.53M1.17M870.00K1.28M
PayablesAndAccruedExpenses8.08M6.58M4.44M4.63M
CurrentAccruedExpenses6.09M2.89M1.22M466.00K
Payables1.98M3.69M3.22M4.17M
AccountsPayable1.98M3.69M3.22M4.17M
TotalAssets30.23M35.16M50.42M59.14M
TotalNonCurrentAssets679.00K941.00K2.78M145.00K
OtherNonCurrentAssets1.73M
NetPPE679.00K941.00K1.05M145.00K
AccumulatedDepreciation-1.16M-1.05M-953.00K-870.00K
GrossPPE1.83M1.99M2.00M1.01M
OtherProperties1.20M1.19M1.06M1.01M
MachineryFurnitureEquipment140.00K140.00K129.00K1.00K
BuildingsAndImprovements498.00K657.00K813.00K0.00
Properties0.000.000.000.00
CurrentAssets29.55M34.22M47.65M58.99M
OtherCurrentAssets1.86M3.02M2.41M2.00M
PrepaidAssets1.99M
Receivables2.69M1.28M3.67M2.27M
OtherReceivables2.69M1.28M3.67M2.27M
CashCashEquivalentsAndShortTermInvestments25.01M29.92M41.56M54.72M
CashAndCashEquivalents25.01M29.92M41.56M54.72M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow-28.48M-16.16M-18.70M-3.66M
RepaymentOfDebt-739.00K-811.00K-1.40M-268.00K
IssuanceOfDebt0.00
IssuanceOfCapitalStock24.35M5.33M5.32M44.22M
CapitalExpenditure-4.00K-147.00K-171.00K-27.00K
EndCashPosition25.01M29.92M41.56M54.72M
BeginningCashPosition29.92M41.56M54.72M5.19M
EffectOfExchangeRateChanges0.004.00K-1.00K-11.00K
ChangesInCash-4.91M-11.64M-13.16M49.54M
FinancingCashFlow23.57M4.52M5.55M53.20M
CashFlowFromContinuingFinancingActivities23.57M4.52M5.55M53.20M
NetOtherFinancingCharges-128.00K8.94M
ProceedsFromStockOptionExercised82.00K0.001.62M310.00K
NetCommonStockIssuance24.35M5.33M5.32M44.22M
CommonStockIssuance24.35M5.33M5.32M44.22M
NetIssuancePaymentsOfDebt-739.00K-811.00K-1.40M-268.00K
NetLongTermDebtIssuance-739.00K-811.00K-1.40M-268.00K
LongTermDebtPayments-739.00K-811.00K-1.40M-268.00K
LongTermDebtIssuance0.00
InvestingCashFlow-4.00K-147.00K-171.00K-27.00K
CashFlowFromContinuingInvestingActivities-4.00K-147.00K-171.00K-27.00K
NetPPEPurchaseAndSale-4.00K-147.00K-171.00K-27.00K
PurchaseOfPPE-4.00K-147.00K-171.00K-27.00K
OperatingCashFlow-28.47M-16.02M-18.53M-3.63M
CashFlowFromContinuingOperatingActivities-28.47M-16.02M-18.53M-3.63M
ChangeInWorkingCapital1.29M4.85M-943.00K2.84M
ChangeInOtherWorkingCapital-635.00K-1.69M2.63M501.00K
ChangeInOtherCurrentLiabilities-159.00K-150.00K-121.00K0.00
ChangeInOtherCurrentAssets-1.73M0.00
ChangeInPayablesAndAccruedExpense1.85M2.44M-749.00K3.43M
ChangeInAccruedExpense343.00K1.27M
ChangeInPayable-1.09M2.17M
ChangeInAccountPayable-1.09M2.17M
ChangeInPrepaidAssets1.63M1.85M-1.30M21.00K
ChangeInReceivables-1.41M2.39M-1.41M-1.11M
OtherNonCashItems318.00K383.00K
StockBasedCompensation3.75M4.35M3.57M5.18M
DepreciationAmortizationDepletion266.00K252.00K235.00K93.00K
DepreciationAndAmortization266.00K252.00K235.00K93.00K
Depreciation266.00K252.00K235.00K93.00K
OperatingGainsLosses195.00K-416.00K
GainLossOnInvestmentSecurities27.00K
NetForeignCurrencyExchangeGainLoss195.00K0.00
NetIncomeFromContinuingOperations-33.97M-25.79M-21.40M-11.72M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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