Traders wasted no time buying up shares of Cognition Therapeutics, Inc. (Nasdaq:CGTX), with the current bid sitting at $1.17/share (+157.20% implied open for sellers) at the time of writing. This move will be a huge relief for longer-term shareholders that have been riding the multi-month downtrend this stock ahs been stuck in since August.
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. The company was incorporated in 2007 and is headquartered in Purchase, New York.
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