Sep. 4 at 4:48 PM
$CGTX is an overlooked CNS biotech with two meaningful shots on goal.
Zervimesine has already received positive FDA feedback on the planned pivotal program in dementia with Lewy bodies psychosis, including agreement that DLB psychosis can support an approvable indication.
At the same time, the 545-patient START Alzheimer’s study is fully enrolled with results expected in 2027, and much of that program has been supported by an
$81M NIA grant.
The upside is obvious if either program works. The risk is that CNS trials are difficult, and CGTX will likely need additional capital before fully funding a large registrational program.
At roughly a
$100M valuation, the market is giving limited credit to both the DLB regulatory path and the Alzheimer’s optionality.
