Cognition Therapeutics Shares Jump 12% After Hours Following Encouraging Phase 2 Alzheimer's Trial Data
Cognition Therapeutics Inc (NASDAQ:CGTX) rose 12.10% to $0.45 during after hours on Thursday, following a surge of 20.82% gain during regular hours.
What Happened: The hike in Cognition Therapeutics’ stock price is attributed to the promising results from its Alzheimer’s drug, Zervimesine. The drug achieved a 95% efficacy rate in its Phase 2 trial. The trial also reached a 50% enrollment milestone, further boosting investor confidence in the drug’s potential.
Why It Matters: The Alzheimer’s drug market has been a hotbed of activity recently. InMed Pharmaceuticals Inc. (NASDAQ:INM), for instance, experienced a sudden surge in its stock price after releasing new preclinical data demonstrating the potential of its therapeutic candidate for Alzheimer’s disease.
Price in Action: According to Benzinga Pro data, Cognition Therapeutics' stock rose 20.82% to $0.41 during regular trading, followed by an additional 12.10% gain to $0.45 in after-hours trading.
Benzinga's Edge Stock Rankings indicates Cognition Therapeutics has momentum in the 3rd percentile. For the complete picture on the stock, click here.
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