Cognition Therapeutics Granted Extended Compliance Period with Nasdaq
Cognition Therapeutics, Inc. (Nasdaq: CGTX), a clinical-stage company focused on innovative therapeutics for neurodegenerative disorders, has received positive news regarding its compliance status with Nasdaq. The company specializes in addressing age-related cognitive issues and is dedicated to advancing its promising pipeline.
Compliance Notification from Nasdaq
The journey towards maintaining a Nasdaq listing is not without its challenges. Cognition Therapeutics was informed that the bid price of its common stock had fallen below the necessary $1.00 per share for over 30 consecutive business days. On this basis, the company was granted a period of 180 calendar days to remedy the situation and achieve compliance by securing a closing bid price of at least $1.00 per share for 10 consecutive business days. This compliance window has now been extended, offering the company a renewed opportunity for recovery.
Transfer to Nasdaq Capital Market
On March 12, 2025, Cognition Therapeutics received confirmation from Nasdaq about its transfer to The Nasdaq Capital Market, effective March 14, 2025. This strategic move provides an additional 180 calendar days to meet the minimum bid price requirement. The company is proactive in monitoring its stock price and is exploring all possible avenues to regain compliance with Nasdaq's standards.
Plans for Compliance and Future Strategies
The team at Cognition Therapeutics is committed to exploring various strategies to address this compliance issue. They are determined to increase their stock price to the required level and are considering options such as a reverse stock split, which would require stockholder approval before implementation. To regain compliance, the company must ensure the stock price meets or exceeds $1.00 per share for a minimum of ten consecutive business days before the end of the new compliance period on September 8, 2025.
About Cognition Therapeutics
Cognition Therapeutics, Inc. is dedicated to developing innovative therapeutics aimed at treating neurodegenerative disorders, focusing on diseases such as dementia with Lewy bodies and Alzheimer’s disease. The team is actively engaged in the clinical programs for their lead candidate, zervimesine (CT1812), which is currently being studied in the START study for early Alzheimer’s disease. Cognition Therapeutics believes that their approach using ?-2 receptor modulators can effectively target dysfunctional pathways in these debilitating diseases.
Contact Information
For inquiries, Cognition Therapeutics, Inc. can be reached via email at info@cogrx.com. Additionally, media and investor relations contacts include Casey McDonald at cmcdonald@tiberend.com and Mike Moyer at mmoyer@lifesciadvisors.com.
Frequently Asked Questions
What extension period has Cognition Therapeutics received from Nasdaq?
Cognition Therapeutics has been granted an additional 180 calendar days to meet Nasdaq's minimum bid price requirement.
Why was Cognition Therapeutics transferred to The Nasdaq Capital Market?
The company was transferred due to its common stock price falling below the $1.00 requirement for a certain period, necessitating a move to a different Nasdaq segment.
What is zervimesine (CT1812)?
Zervimesine is a lead candidate of Cognition Therapeutics, currently being studied in clinical trials for its potential to treat Alzheimer’s and related neurodegenerative diseases.
How many consecutive days must the stock price be over $1.00?
The stock price must be over $1.00 for at least 10 consecutive business days to comply with Nasdaq's listing requirements.
What is the company’s strategy if stock prices do not rise?
If necessary, Cognition Therapeutics may seek stockholder approval to implement a reverse stock split as part of their strategy to enhance compliance.
