Cognition Therapeutics Q1 Loss Narrows to $4.6M, FDA Meeting Set for DLB Psychosis
Q1 net loss was $4.6 million, with R&D and G&A expenses at $6.1 million and $2.7 million, respectively, and cash of $31.2 million plus $25.6 million in grants funding operations through Q2 2027. An FDA Psychiatry meeting is set for May 20 to review zervimesine registration plans in DLB psychosis.
1. First Quarter 2026 Financial Highlights
Cognition Therapeutics reported a net loss of $4.6 million, or $0.05 per share, in Q1 2026 versus an $8.5 million loss in Q1 2025. R&D expenses decreased to $6.1 million and G&A expenses to $2.7 million, while cash, cash equivalents and restricted cash totaled $31.2 million with $25.6 million in NIH grant funds, supporting operations through Q2 2027.
2. Upcoming FDA Meeting for Zervimesine
A meeting with the FDA Division of Psychiatry is scheduled for May 20, 2026, to discuss zervimesine’s registration strategy for dementia with Lewy body psychosis, with formal minutes expected in June. The company continues to target Alzheimer’s disease development, anticipating topline results from its 545-participant Phase 2 START study in early Alzheimer’s in 2027 to guide further plans.
3. Pipeline Progress and Conference Presentations
Two posters were presented at the AD/PD 2026 conference: one analyzed zervimesine’s effects on neuropsychiatric index components from the Phase 2 SHIMMER study in DLB, and the other proposed a composite endpoint encompassing memory, motor function, fluctuations, behavior and psychosis to better capture DLB symptom complexity in future trials.