Cognition Therapeutics Faces Delisting Concerns
Ticker: CGTX · Form: 8-K · Filed: Sep 13, 2024 · CIK: 1455365
| Field | Detail |
|---|---|
| Company | Cognition Therapeutics INC (CGTX) |
| Form Type | 8-K |
| Filed Date | Sep 13, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
TL;DR
Cognition Therapeutics might get delisted - big trouble for the stock.
AI Summary
Cognition Therapeutics, Inc. filed an 8-K on September 13, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company's principal executive offices are located at 2500 Westchester Avenue, Purchase, NY 10577.
Why It Matters
This filing indicates potential issues with Cognition Therapeutics' continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading and overall financial health.
Key Players & Entities
- Cognition Therapeutics, Inc. (company) — Registrant
- September 12, 2024 (date) — Date of earliest event reported
- September 13, 2024 (date) — Filing date
- 2500 Westchester Avenue, Purchase, NY 10577 (address) — Principal executive offices
FAQ
What specific listing rule or standard has Cognition Therapeutics failed to satisfy?
The filing does not specify the exact rule or standard that has not been met, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the exact date of the event triggering this 8-K filing?
The date of the earliest event reported is September 12, 2024.
Where are Cognition Therapeutics' principal executive offices located?
The principal executive offices are located at 2500 Westchester Avenue, Purchase, NY 10577.
What is the company's state of incorporation?
The company is incorporated in Delaware.
What is the SEC file number for Cognition Therapeutics?
The SEC file number is 001-40886.
Filing Stats: 820 words · 3 min read · ~3 pages · Grade level 13.5 · Accepted 2024-09-13 16:01:15
Key Financial Figures
- $0.001 — h Registered Common Stock, par value $0.001 per share CGTX The Nasdaq Stock Mar
- $1.00 — common stock has been below the minimum $1.00 per share required for continued listin
Filing Documents
- tm2424030d1_8k.htm (8-K) — 26KB
- 0001104659-24-099746.txt ( ) — 195KB
- cgtx-20240912.xsd (EX-101.SCH) — 3KB
- cgtx-20240912_lab.xml (EX-101.LAB) — 33KB
- cgtx-20240912_pre.xml (EX-101.PRE) — 22KB
- tm2424030d1_8k_htm.xml (XML) — 4KB
01
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On September 12, 2024, Cognition Therapeutics, Inc. (the "Company") received a deficiency letter from the Nasdaq Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company's common stock has been below the minimum $1.00 per share required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) ("Rule 5450(a)(1)"). The Nasdaq deficiency letter has no immediate effect on the listing of the Company's common stock, and its common stock will continue to trade on The Nasdaq Global Market under the symbol "CGTX" at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until March 11, 2025, to regain compliance with Rule 5450(a)(1). If at any time before March 11, 2025, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance. If the Company does not regain compliance with Rule 5450(a)(1) by March 11, 2025, the Company may be afforded a second 180 calendar day period to regain compliance. To qualify, the Company would be required to transfer to The Nasdaq Capital Market and meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the deficiency during the second compliance period. If the Staff concludes that the Company will not be able to cure the deficiency, or if the Company does not regain compliance with the minimum bid price requirement within such addit
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COGNITION THERAPEUTICS, INC. Date: September 13, 2024 By: /s/ Lisa Ricciardi Name: Lisa Ricciardi Title: President and Chief Executive Officer