Cognition Therapeutics, Inc. announced it has entered into a securities purchase agreement for a registered direct offering of 14,700,000 shares of its common stock. The offering is expected to generate gross proceeds of approximately $30 million, before deducting placement agent fees and other offering expenses.
The offering was made to two new fundamental institutional investors, including a preeminent global investment manager. This significant capital infusion is intended to fund preparation for the company's Phase 3 programs of zervimesine in neurodegenerative disorders.
The net proceeds will also be used for working capital and general corporate purposes. The closing of the offering is expected to occur on or about August 29, 2025, subject to customary closing conditions, providing crucial financial support for advancing zervimesine into late-stage clinical development.
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