Cognition Therapeutics reported third-quarter 2026 results and updated investors on its clinical plans for zervimesine, its experimental treatment for neurodegenerative disorders. Separately, Nasdaq notified the company that its share price had fallen below the exchange’s $1 minimum bid requirement for continued listing.
The deficiency does not immediately affect Cognition’s Nasdaq listing: its shares continue to trade under the ticker CGTX. The company has until May 3, 2027, to regain compliance.
Clinical and business update
- Cognition said it has aligned with the FDA on the primary and key secondary endpoints for a planned Phase 3 trial of zervimesine in people with dementia with Lewy bodies (DLB).
- The company has begun developing the trial protocol, drawing on input from people with DLB and caregivers. It is evaluating manufacturing plans, trial-site selection and patient recruitment.
- Cognition is also preparing for the conclusion of the Phase 2 START study, which is testing zervimesine in people with mild cognitive impairment and early Alzheimer’s disease. Top-line results are expected in the second half of 2027 and are intended to inform the company’s plans for the drug in Alzheimer’s disease.
Nasdaq listing
- Cognition received notice that its closing bid price had been below $1 a share for 30 consecutive business days, breaching Nasdaq’s minimum-price requirement.
- The company has until May 3, 2027, to comply. It can meet the requirement if its closing bid price is at least $1 for 10 consecutive business days during that period.
- If it does not meet the threshold by the deadline, it may qualify for a further 180-day compliance period, provided it meets other Nasdaq listing standards and tells the exchange it intends to address the shortfall. A reverse stock split is one possible remedy the company may consider.
- If Cognition fails to regain compliance, Nasdaq could move to delist its shares. The company would have the right to appeal a delisting determination, but success is not assured.
Financial results
The announcement says Cognition reported results for the quarter ended September 30, 2026, but the financial figures are not included in the material provided here.
What changes for investors
Cognition’s shares remain listed for now, but the company faces a deadline to lift its bid price or risk a delisting process. On the clinical side, the company has moved toward planning a Phase 3 DLB study, while its Alzheimer’s disease plans remain dependent in part on results expected from the START study in the second half of 2027.