Cognition Therapeutics Announces Closing of $11.5 Million Public Offering of Common Stock
PURCHASE, N.Y., March 14, 2024 (GLOBE NEWSWIRE) — Cognition Therapeutics, Inc. (“Cognition,” the “Company” or “We”) (Nasdaq:CGTX), a clinical stage company developing product candidates designed to treat neurodegenerative disorders, announced today the closing of its previously announced underwritten public offering of 6,571,428 shares of its common stock. Each share of common stock was sold at a price to the public of $1.75 per share. The gross proceeds to the Company from the offering were approximately $11.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to fund research, clinical development, process development and manufacturing of Cognition’s product candidates, working capital, capital expenditures and other general corporate purposes.