CGTX

MKT CAP:$95M

Cognition Therapeutics, Inc.

Market Cap

$95M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$1.29-$0.18 (-12.24%)

Apr 22, 2026

Company Details

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 re...

CEO

Lisa Ricciardi

IPO Date

Oct 8, 2021

Website

www.cogrx.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$23M

EPS (Diluted)

-$0.35

Free Cash Flow

-$25M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Mar 26, 2026

$0EPS -$0.32

Q4 2025

Mar 26, 2026

$0EPS -$0.04

Q3 2025

Nov 6, 2025

$0EPS -$0.06

Q2 2025

Aug 7, 2025

$0EPS -$0.11

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$9M
Q2 22	$0	$0	-$12M
Q3 22	$0	$0	-$13M
Q4 22	$0	$0	-$9M
Q1 23	$0	$0	-$9M
Q2 23	$0	$0	-$12M
Q3 23	$0	$0	-$15M
Q4 23	$0	$0	-$15M
Q1 24	$0	-$58.0K	-$14M
Q2 24	$0	$0	-$15M
Q3 24	$0	$0	-$14M
Q4 24	$0	$0	-$11M
Q1 25	$0	$0	-$14M
Q2 25	$0	$0	-$14M
Q3 25	$0	-$61.0K	-$6M
Q4 25	$0	-$61.0K	-$14M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$3M	-$3M
Q2 22	-$5M	-$5M
Q3 22	-$4.0K	-$27.0K
Q4 22	-$10M	-$10M
Q1 23	-$3M	-$3M
Q2 23	-$4M	-$4M
Q3 23	-$4M	-$4M
Q4 23	-$5M	-$5M
Q1 24	-$7M	-$7M
Q2 24	-$6M	-$6M
Q3 24	-$7M	-$7M
Q4 24	-$8M	-$8M
Q1 25	-$10M	-$10M
Q2 25	-$6M	-$6M
Q3 25	-$6M	-$6M
Q4 25	-$3M	-$3M

Capital Expenditures

Quarter	CapEx
Q1 22	$134.0K
Q2 22	$4.0K
Q3 22	$23.0K
Q4 22	$10.0K
Q1 23	$41.0K
Q2 23	$18.0K
Q3 23	$58.0K
Q4 23	$30.0K
Q1 24	$0
Q2 24	$3.0K
Q3 24	$0
Q4 24	$1.0K
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+68.6%
Q2 22	—	+104.1%
Q3 22	—	+141.7%
Q4 22	—	-21.2%
Q1 23	—	-4.7%
Q2 23	—	-3.2%
Q3 23	—	+16.8%
Q4 23	—	+63.3%
Q1 24	—	+57.2%
Q2 24	—	+24.2%
Q3 24	—	-1.9%
Q4 24	—	-29.4%
Q1 25	—	-2.3%
Q2 25	—	-4.8%
Q3 25	—	-55.9%
Q4 25	—	+27.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$1M	—
Q2 22	$892.0K	—
Q3 22	$777.0K	—
Q4 22	$902.0K	—
Q1 23	$1M	—
Q2 23	$1M	—
Q3 23	$1M	—
Q4 23	$1M	—
Q1 24	$1M	—
Q2 24	$1M	—
Q3 24	$896.0K	—
Q4 24	$534.0K	—
Q1 25	$586.0K	—
Q2 25	$621.0K	—
Q3 25	$522.0K	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$7M	$3M	—
Q2 22	$9M	$3M	—
Q3 22	$8M	$4M	—
Q4 22	$6M	$3M	—
Q1 23	$5M	$4M	—
Q2 23	$8M	$3M	—
Q3 23	$12M	$3M	—
Q4 23	$12M	$4M	—
Q1 24	$11M	$4M	—
Q2 24	$12M	$3M	—
Q3 24	$11M	$3M	—
Q4 24	$8M	$3M	—
Q1 25	$11M	$3M	—
Q2 25	$11M	$2M	—
Q3 25	$4M	$3M	—
Q4 25	$11M	—	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$52M	$0	$52M
Q2 22	$46M	$0	$46M
Q3 22	$47M	$0	$47M
Q4 22	$42M	$0	$42M
Q1 23	$39M	$0	$39M
Q2 23	$37M	$0	$37M
Q3 23	$33M	$0	$33M
Q4 23	$30M	$0	$30M
Q1 24	$35M	$0	$35M
Q2 24	$29M	$0	$29M
Q3 24	$22M	$0	$22M
Q4 24	$25M	$0	$25M
Q1 25	$16M	$0	$16M
Q2 25	$11M	$0	$11M
Q3 25	$40M	$0	$40M
Q4 25	$37M	$0	$37M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	22M	+7.0%	+4.9%
Q2 22	23M	+0.8%	+7.8%
Q3 22	23M	+1.9%	+9.9%
Q4 22	29M	+25.9%	+38.4%
Q1 23	29M	+0.4%	+29.7%
Q2 23	30M	+1.8%	+31.1%
Q3 23	30M	+2.5%	+31.9%
Q4 23	31M	+1.4%	+6.2%
Q1 24	34M	+9.6%	+16.0%
Q2 24	40M	+18.8%	+35.3%
Q3 24	40M	+0.9%	+33.1%
Q4 24	46M	+14.9%	+50.9%
Q1 25	62M	+33.2%	+83.3%
Q2 25	64M	+3.0%	+59.0%
Q3 25	78M	+22.4%	+92.9%
Q4 25	89M	+14.1%	+91.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	21
Q2 22	$0	21
Q3 22	$0	21
Q4 22	$0	25
Q1 23	$0	25
Q2 23	$0	25
Q3 23	$0	25
Q4 23	$0	28
Q1 24	$0	28
Q2 24	$0	28
Q3 24	$0	28
Q4 24	$0	28
Q1 25	$0	28
Q2 25	$0	28
Q3 25	$0	28
Q4 25	$0	30

Revenue / Employee