CGTX COGNITION THERAPEUTICS INC

Overview and Growth

Fiscal 2025 results for COGNITION THERAPEUTICS INC included net loss of $23.49M. On a per-share basis, diluted EPS was -$0.32, which connects the reported earnings outcome with the company’s diluted share count. A diluted share base of 72.77M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. Diluted shares moved 83.2% from 39.73M in fiscal 2024, leaving the current share base higher year over year. At period end, total assets were $48.39M, framing the scale of the company’s operating and financing commitments.

Profitability

The reported operating result was an operating loss of $47.80M, reflecting costs that exceeded gross profit. The bottom-line result was a net loss of $23.49M after operating, financing, tax, and other recognized items. The company reported negative EBITDA of $47.76M, adding a pre-interest, tax, depreciation, and amortization view of the operating shortfall. The company recognized $0.00 of income tax for the period, completing the transition from pretax income to net income. Relative to period-end equity, the net loss represented 68.5%. The net loss equaled 48.5% of period-end assets, showing the deficit relative to the asset base. The bottom-line deficit decreased from $33.97M in fiscal 2024 to $23.49M.

Liquidity and Capital Structure

At period end, the $48.39M asset base was financed through $14.12M of liabilities and $34.27M of equity. At period end, current assets of $47.99M compared with current liabilities of $13.92M, defining the company’s short-term resource position. The current ratio was 3.45x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $36.81M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 264.4%, excluding receivables and other current assets. Book equity represented 70.8% of total assets, quantifying the balance-sheet share supported by shareholder capital. Relative to total assets, liabilities measured 29.2%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 76.1%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $30.23M in fiscal 2024, the current asset base moved 60.1% and finished higher. Against $18.75M of equity in fiscal 2024, the current book-equity balance moved 82.8% and ended higher. Cash and equivalents were 47.2% higher than fiscal 2024 cash of $25.01M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $24.59M, showing that operations absorbed cash during the period. The operating cash outflow narrowed to $24.59M from $28.47M in fiscal 2024.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.