CGTX - Cognition adds 13% on plans to start Alzheimer's trial for lead candidate

• Nano-cap biotech Cognition Therapeutics ( NASDAQ: CGTX ) added ~13% pre-market Wednesday after announcing that the company is set to start its Phase 2 study for lead candidate CT1812 in adults with mild cognitive impairment or early Alzheimer's disease.
• The 540-patient trial named START is designed to evaluate the once-daily oral CT1812 over 18 months in Alzheimer's patients who have elevated beta-amyloid (A?).
• The go-ahead to proceed with START comes after the company cleared the U.S. FDA's comment period for the study, which is expected to undergo in ~50 – 60 trial sites in North America, including those run by Alzheimer's Clinical Trials Consortium (ACTC).
• The trial is backed by ~$81M grant from the National Institute on Aging (NIA), a unit of the National Institutes of Health (NIH).
• Read: Seeking Alpha contributor Donovan Jones issued a Hold rating on Cognition ( CGTX ) ahead of its IPO in October 2021.

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