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what it is
Cognition Therapeutics is a tiny biotech developing zervimesine, a pill aimed at brain and retina diseases.
how it gets paid
Last year Cognition Therap had essentially no product revenue (pre-commercial biotech). Segment splits in filings are illustrative until the company records meaningful sales.
what just happened
CGTX posted -$0.30 EPS on -$10K revenue.
At a glance
C++ balance sheet — some cracks in the foundation
-$0.86 fy2024 eps est
1.7 beta
~$93M market cap
small cap
xvary composite: 39/100 — weak
What they do
Cognition Therapeutics is a tiny biotech developing zervimesine, a pill aimed at brain and retina diseases.
Lead asset → main drug candidate → one pill carries the whole company. zervimesine is an oral, once-daily pill, so you are not asking patients to line up for infusions. The company has 25 employees. That is a tiny crew for a shot at Alzheimer's and DLB.
How they make money
n/a
annual revenue
Alzheimer's / CNS program
$0M
Dementia with Lewy bodies program
$0M
Retina program
$0M
Discovery platform
$0M
The products that matter
Phase 2 neurodegeneration drug candidate
Zervimesine (CT1812)
1 asset · 100% of the thesis
it is the company’s only disclosed clinical asset in this snapshot, and the full ~$93M market value is effectively riding on it. there are zero approved treatments here and zero product revenue cushioning the downside.
single-asset story
Key numbers
-$0.86
fy2024 eps est
n/a
fy rev est
n/a
trailing p/e
n/a
dividend yield
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 4 — safer than 20% of stocks
- price stability 5 / 100
- long-term debt $0M (0% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for CGTX right now.
source: institutional data · return history unavailable
What just happened
missed estimates
CGTX posted -$0.30 EPS on -$10K revenue.
The company is still pre-revenue. EDGAR shows -$10K in the latest quarter, while Yahoo shows TTM revenue at $0M. still has FY2024 EPS at -$0.86, and Yahoo shows trailing EPS at -$0.24.
-$10K
revenue
-$0.30
eps
-$0.24
trailing eps
latest loss
The -$0.30 EPS tells you this is still a trial stock, not a sales story.
source: EDGAR and Yahoo Finance, 2026
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What could go wrong
the #1 risk is clinical failure for Zervimesine in dementia with Lewy bodies psychosis.
med
negative Phase 2 data would hit the whole story at once
Zervimesine is the only asset discussed on this page and the company has $0 in revenue. If the readout disappoints, investors are not repricing one segment — they are repricing the company.
With a ~$93M market cap tied to one program, a failed study would likely pressure most of the current equity value.
med
cash burn can force dilution before the science is settled
The company had $25M in cash equivalents, while R&D expense was $11.5M last quarter. That is the math you need to watch. Even good clinical progress can be painful for shareholders if the next funding round arrives first.
This risk directly affects 100% of the equity because new shares are the usual way pre-revenue biotech companies buy more time.
med
regulatory progress can still be slow even after FDA engagement
A Type C meeting helps, but it is not approval and it is not proof of efficacy. Development programs can still slip, expand in cost, or require more work than investors expect.
Delays matter more when there is no product revenue and the balance sheet already carries a C++ strength grade.
Zero revenue, $25M in cash, and one Phase 2 asset means clinical risk and financing risk are really the same risk viewed from two angles.
source: institutional data · regulatory filings · risk analysis
Pay attention to
runway
cash versus quarterly R&D spend
$25M in cash against $11.5M of recent quarterly R&D expense is the cleanest way to track financing pressure.
calendar
Q4 2025 earnings
Estimated report date: Mar 19, 2026. You want cash, burn, and any change in trial pacing more than income-statement drama.
program
Zervimesine development updates
Management said on Mar 2, 2026 that it plans to advance the program. The next update needs to add substance, not just motion.
regulatory
what follows the FDA Type C meeting
The January 2026 meeting matters only if it shortens uncertainty around the next clinical step. If it does not, the financing clock keeps ticking.
Analyst rankings
risk profile
below average
risk rank 4 — more volatile than most — brace for bigger swings.
chart momentum
average
momentum rank 3 — the stock is moving with the broader market, no unusual signal.
source: institutional data
Institutional activity
institutional ownership data for CGTX is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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