STAMFORD — A member of the Stamford Board of Representatives said he was “disgusted” by the city’s Board of Finance’s decision to delay a potential increase in budgeted officers for the city’s police department.
Finance
Cognition Therapeutics Reports Financial Results for the Third Quarter 2024 and Provides Business and Clinical Update
– CT1812 slowed cognitive decline by 95% in Alzheimer’s disease patients with lower levels of plasma p-tau217 in a pre-specified analysis from Phase 2 SHINE study presented at CTAD –
– On track to report topline results from Phase 2 SHIMMER study investigating CT1812 in patients with mild-to-moderate dementia with Lewy bodies (DLB) by end of 2024 –
PURCHASE, N.Y., Nov. 13, 2024 (GLOBE NEWSWIRE) — Cognition Therapeutics, Inc. (Nasdaq: CGTX), a clinical-stage company developing product candidates that treat neurodegenerative disorders, (the “Company” or “Cognition”) today reported financial results for the third quarter ended September 30, 2024, and provided a business update.
“In the third quarter and recent weeks Cognition Therapeutics achieved one of the most important milestones in its history as the Phase 2 SHINE study results became available. Among the many findings in the SHINE study, new and compelling data presented at CTAD showed a near-total preservation of cognition (as measured by the ADAS-Cog11 and MMSE scales) in a sub-group of Alzheimer’s patients treated with CT1812 who had p-tau217 levels below median,” said Lisa Ricciardi, Cognition’s president and CEO. “We are moving rapidly to advance CT1812 in Alzheimer’s disease and plan to request an end-of-Phase 2 meeting with the FDA where we will review CT1812’s safety and tolerability profile as well as the totality of results from SHINE. We will seek alignment with the FDA on a pivotal Phase 3 program design in light of recent findings relating to lower levels of plasma p-tau217, an important biomarker of Alzheimer’s disease pathology easily measured with a blood test.”
Ms. Ricciardi concluded: “In addition to the substantial progress we have made with CT1812 in Alzheimer’s disease, we expect to report top-line results from our Phase 2 SHIMMER study in mild-to-moderate dementia with Lewy bodies (DLB) by the end of this year. DLB is the second most common neurodegenerative disease, yet few therapies have been studied in this indication and no disease-modifying treatments exist. SHIMMER will deliver safety and tolerability data in a second indication and potentially provide insights to be integrated into a larger clinical study in this under-studied and under-represented population.”
Business and Corporate Highlights
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Results of a pre-specified analysis from the Phase 2 SHINE study of CT1812 in participants with mild-to-moderate Alzheimer’s disease were presented in an oral session at the Clinical Trials on Alzheimer’s Disease (CTAD) conference
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Patients with baseline levels of p-tau217 below the median showed a 95% slowing of cognitive decline on the ADAS-Cog11 scale and 108% slowing of cognitive decline on the MMSE scale*
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Lower levels of plasma p‑tau217 are indicative of less advanced Alzheimer’s pathology, and we believe may identify patients likely to have a greater response to therapy
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The CTAD presentation by Dr. Michael Woodward and an archive of investor webinar are available on the Cognition website
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Baseline characteristics of participants enrolled in the Phase 2 SHIMMER study were also presented at CTAD, confirming enrollment of individuals with mild-to-moderate DLB
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Continued enrollment in Phase 2 START study (NCT05531656) in early Alzheimer’s disease and Phase 2 MAGNIFY study (NCT05893537) in geographic atrophy secondary to dry age-related macular degeneration
WASHINGTON — The government shutdown is creating a lot of uncertainty and disruption for Alaska Native communities, and for tribal organizations that administer federal programs.
These include SNAP, for food assistance, and the Low Income Home Energy Assistance Program, which subsidizes energy bills.
Ben Mallott, president of the Alaska Federation of Natives, said the prospect that both of those programs would run out of money, just as winter begins, puts some Alaskans in a life-threatening bind.
“Without LIHEAP, without SNAP, our communities, our tribal citizens will have to decide between fuel and food,” he testified to the Senate Indian Affairs Committee Wednesday.
During the pandemic, the Federal Subsistence Board allowed emergency hunting to improve food security. Now, with the government shutdown, Mallott said the Subsistence Board can’t even meet to consider it.
Since the second Trump administration began, advocates for Native American and Alaska Native people have stressed that programs that help them aren’t D.E.I. initiatives but the result of promises, treaties and laws. Now, between the administration’s cuts to government services and the shutdown, they say the government is dodging its responsibilities.
Hearing witnesses said tribal Head Start programs will run low on money if the shutdown extends into November, and that many agency experts tribes normally turn to have lost their jobs.
Pete Upton testified about the Trump administration’s plan to abolish a fund at the Treasury Department called the Community Development Financial Institutions Fund. Upton runs the Native CDFI Network, whose Alaska members include the Cook Inlet Lending Center. He said tribal communities are often in banking deserts.
“Native CDFIs are typically the only financial institutions serving these communities, providing access to capital, credit and financial education where no alternative exists,” he said.
Early in the shutdown, the Treasury Department fired the entire staff of the CDFI Fund. With no one at the federal office to certify the CDFIs, Upton said it’s hard for the community finance organizations to attract private-sector and philanthropic investment.
Certification is “a stamp for investors to say that ‘you are investable,’” Upton said. With it, “we bring in private capital at a rate of eight to one.”
Sen. Lisa Murkowski, chair of the Indian Affairs Committee, said tribes face enormous uncertainty as the stalemate in Congress nears the one-month mark.
“We can’t figure out the path forward right now on our spending bills, although I am a little bit more optimistic on that today,” she said.
She didn’t elaborate but said earlier this week that senators are engaged in productive talks.
Police cruisers parked in the Stamford Police Department parking lot photographed on August 7, 2024.
“I’m angry,” said Sean Boeger, D-15, during the Board of Representatives’ Fiscal Committee meeting Monday.
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Boeger is also a sergeant in the Stamford Police Department. The increase, which was on the committee’s agenda, would have created 13 more officer positions in the department. A grant would help pay for six of the 13 new positions.
It would’ve brought the total number of officers in the patrol division from 217 to 230, resulting in a 300-person force when all other ranks are considered. In the early 2000s, the department had 314 budgeted sworn officers, according to Chief of Police Timothy Shaw.
Lou DeRubeis, Stamford’s director of public safety, health and welfare, said the proposed increase was the first “in quite a number of years.”
The Board of Finance, however, during its Oct. 9 meeting, voted to hold the increase and asked the police department to provide more information, such as where the officers would be used and the total cost of hiring them outside of wages, such as health insurance and overtime.
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Boeger said during Monday’s fiscal committee meeting that he believed there were four officers assigned to traffic enforcement because “patrol demand is so high.” He said the department should be able to double the number of officers for traffic enforcement, which he said was “the top gripe of our citizenry.”
He also said the department was “lucky if we could cover the high schools when it’s busy.”
“If we want to be responsible and we want to have the nice things that a nice city like Stamford should have…we have to do something about this,” Boeger said.
Boeger said the department had opened up testing for new positions and that the department can’t send people to police academies, whether the city’s own or others, until the new positions are approved.
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“We’re gambling with open positions based on academy availability,” Boeger said.
Amiel Goldberg, D-13, said he wanted members of the committee to reach out to the Board of Finance to “let them know how deeply disappointed and frustrated our committee is.”
There had been an attempt to add the 13 police officer positions during the most recent budget process, but the Board of Finance cut the funding for those jobs.
At that time, members of the board said to come back with the request once the department filled out the rest of their 287 budgeted officer positions. The department will reach that goal by December, Bridget Fox, chief of staff of the mayor’s office, said during the Oct. 9 meeting.
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Shaw, in an interview before the fiscal committee meeting, said getting more people for the department would mean less people have to work overtime and because of that, less people would burn out and leave the force. Half the budgeted overtime, he said, is for the patrol division.
During the Oct. 9 meeting, the chief said the 13-person increase could result in a $500,000 reduction in overtime costs.
Laura Burwick, a member of the Board of Finance, said during the Oct. 9 meeting the request of $743,941 for the new positions was “a huge additional expense to the budget” and that she wanted to “see a little bit of the analysis that went into this.”
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Geoff Alswanger, a member of the finance board, said during that meeting that there have been “many sessions” where the board had “angst at the management” of the city’s pension funds and that the board “can’t ignore that as part of this equation.”
Boeger, however, during Monday’s meeting, said the department “has no power or control over that.”
TPG Hotels & Resorts, one of the nation’s premier hospitality management firms, announced today that Brian Bradford has joined the company as Senior Vice President, Hospitality Finance. In this role, Bradford will have direct oversight and accountability for the accounting and finance function across the company’s portfolios and be based out of the national operations headquarters in McKinney, Texas.
Bradford joins TPG Hotels & Resorts from Remington Hospitality, where he served as Senior Vice President of Corporate Accounting, overseeing the accounting and treasury functions for a portfolio of more than 120 hotels. During his tenure, Bradford successfully restructured accounting operations, streamlined processes, and reduced the monthly close cycle by nine days. With extensive experience in financial management, reporting, and technical accounting across multiple industries, he brings to TPG a proven track record of driving operational efficiencies and implementing robust financial systems for large, complex organizations.
Bradford began his career in public accounting with CohnReznick LLP and has since held senior finance and accounting leadership positions with several large organizations including, CIG Logistics, Daseke, and Americold Realty Trust. He holds both a Master of Accounting and Bachelor of Science in Accounting from North Carolina State University.
TPG Hotels
McKinney, Texas
United States
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