<SEC-DOCUMENT>0001104659-23-075554.txt : 20230628
<SEC-HEADER>0001104659-23-075554.hdr.sgml : 20230628
<ACCEPTANCE-DATETIME>20230628073206
ACCESSION NUMBER:		0001104659-23-075554
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230628
DATE AS OF CHANGE:		20230628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COGNITION THERAPEUTICS INC
		CENTRAL INDEX KEY:			0001455365
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-268992
		FILM NUMBER:		231049179

	BUSINESS ADDRESS:	
		STREET 1:		2403 SIDNEY STREET
		STREET 2:		SUITE 261
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15203
		BUSINESS PHONE:		412-481-2210

	MAIL ADDRESS:	
		STREET 1:		2500 WESTCHESTER AVE
		CITY:			PURCHASE
		STATE:			NY
		ZIP:			10577

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COGNITION THERAPUTICS INC
		DATE OF NAME CHANGE:	20090204
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>tm2319819d1_424b5.htm
<DESCRIPTION>424B5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule&nbsp;424(b)(5)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-268992</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>PROSPECTUS SUPPLEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(To Prospectus dated January&nbsp;3, 2023,
as supplemented by Prospectus Supplement dated March&nbsp;27, 2023)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="tm2319819d1_424b5img001.jpg" ALT="" STYLE="height: 61px; width: 250px"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to $40,000,000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus supplement amends and supplements the information in the prospectus, dated January&nbsp;3, 2023, filed with the Securities
and Exchange Commission as a part of our registration statement on Form&nbsp;S-3 (File No.&nbsp;333-268992) (the &ldquo;<B>Prospectus</B>&rdquo;)
on December&nbsp;23, 2022, and declared effective on January&nbsp;3, 2023, relating to the offer and sale of shares of our Class&nbsp;A
common stock, par value $0.0001 per share (&ldquo;<B>common stock</B>&rdquo;), pursuant to that certain Controlled Equity Offering</FONT><FONT STYLE="font-size: 10pt"><SUP>SM</SUP></FONT>
Sales Agreement, dated December&nbsp;23, 2022 (the &ldquo;<B>Sales Agreement</B>&rdquo;), by and among the Company, Cantor Fitzgerald&nbsp;&amp;
Co. (&ldquo;<B>Cantor</B>&rdquo;) and B. Riley Securities,&nbsp;Inc. (&ldquo;<B>B. Riley Securities</B>&rdquo; and together with Cantor,
the &ldquo;<B>Sales Agents</B>&rdquo;). This prospectus supplement is not complete without, and may only be delivered or utilized in connection
with, the Prospectus and any future amendments or supplements thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are filing this prospectus supplement to amend
the Prospectus because we are no longer subject to General Instruction I.B.6. of Form&nbsp;S-3, which limits the amounts that we may sell
under the registration statement of which this prospectus supplement and the Prospectus are a part. We currently may offer and sell shares
of our common stock having an aggregate offering price of up to $40,000,000 under the Sales Agreement. If we become subject to the offering
limits of General Instruction I.B.6 in the future, we will file another prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This prospectus supplement should be read in conjunction
with the Prospectus, and is qualified by reference thereto, except to the extent that the information herein amends or supersedes the
information contained in the Prospectus. This prospectus supplement is not complete without, and may only be delivered or utilized in
connection with, the Prospectus and any future amendments or supplements thereto. Through June&nbsp;26, 2023, we have sold 1,063,061 shares
of our common stock for aggregate gross proceeds of approximately $2.4 million in accordance with the Sales Agreement under the Prospectus.
Consequently, up to approximately $37.6 million remains available under the Sales Agreement pursuant to this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our common stock is listed on the Nasdaq Global
Market under the symbol &ldquo;CGTX.&rdquo; The aggregate market value of our common stock held by non-affiliates as of June&nbsp;16,
2023 pursuant to General Instruction I.B.6 of Form&nbsp;S-3 is $83,212,362, which was calculated based on 24,619,042 shares of our common
stock outstanding held by non-affiliates and at a price of $3.38 per share, the closing price of our common stock on June&nbsp;16, 2023.
In accordance with the terms of the Sales Agreement, we are registering the offer and sale of shares of our common stock having an aggregate
offering price up to $40,000,000 from time to time through the Sales Agents. In addition, we have agreed to reimburse the Sales Agents
up to an aggregate of $75,000 of the Sales Agents&rsquo; actual outside legal expenses incurred by the Sales Agents in connection with
this offering. We have also agreed to reimburse the Sales Agents for certain ongoing expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investing in our common stock involves a high
degree of risk. Before buying any common stock, you should review carefully the risks and uncertainties described under the heading &ldquo;Risk
Factors&rdquo; beginning on page&nbsp;4 of the Prospectus, in our most recent Annual Report on Form&nbsp;10-K, and our most recent Quarterly
Reports on Form&nbsp;10-Q, and any amendments thereto, which are incorporated by reference into the Prospectus, and under similar headings
in the other documents that are filed after the date hereof and incorporated by reference into this prospectus supplement and the Prospectus.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the
accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 38%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 24pt"><B>Cantor</B></FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 24pt"><B>B. Riley Securities</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The date of this prospectus supplement is June&nbsp;28,
2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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