Cogent Biosciences, Inc. (COGT)

Reported positive top-line results from SUMMIT evaluating bezuclastinib in patients with NonAdvanced Systemic Mastocytosis, achieving statistical significance across all primary and key secondary endpoints On track to share pivotal trial results from PEAK in GIST and APEX in AdvSM in 2H 2025 $453 million in pro-forma cash sufficient to fund operations through anticipated launch and into 2027; includes proceeds from upsized $230 million public offering in July 2025 WALTHAM, Mass. and BOULDER, Colo.

Insider buying has been slow this month, as buy windows close ahead of the new earnings-reporting season.

WALTHAM, Mass. and BOULDER, Colo., July 10, 2025 (GLOBE NEWSWIRE) -- Cogent Biosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on developing precision therapies for genetically defined diseases, today announced the closing of its previously announced upsized underwritten public offering of 25,555,556 shares of its common stock, which includes 3,333,333 shares issued pursuant to the exercise in full by the underwriters of their option to purchase additional shares of common stock in the offering. The public offering price was $9.00 per share. The aggregate gross proceeds to Cogent from this offering were approximately $230 million, including proceeds from the exercise in full by the underwriters of the option to purchase additional shares, before deducting underwriting discounts and commissions and other offering expenses. All of the shares in the offering were sold by Cogent.

I have upgraded Cogent Biosciences, Inc. to Strong Buy after positive SUMMIT trial data for bezuclastinib in non-advanced systemic mastocytosis patients. COGT plans to submit an NDA for bezuclastinib in NonAdvSM by end of 2025, with additional pivotal data readouts expected in AdvSM and GIST in 2nd half 2025. Cogent is well-funded, raising $200M recently and maintaining a cash runway into late 2026, supporting ongoing and upcoming clinical milestones.

WALTHAM, Mass. and BOULDER, Colo., July 08, 2025 (GLOBE NEWSWIRE) -- Cogent Biosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on developing precision therapies for genetically defined diseases, today announced the pricing of its previously announced underwritten public offering of 22,222,223 shares of its common stock, offered at a public offering price of $9.00 per share. The aggregate gross proceeds to Cogent from this offering are expected to be approximately $200 million, before deducting underwriting discounts and commissions and other offering expenses. In addition, Cogent has granted the underwriters a 30-day option to purchase up to an additional 3,333,333 shares of its common stock on the same terms and conditions. All of the securities in the offering are being sold by Cogent. The offering is expected to close on or about July 10, 2025, subject to the satisfaction of customary closing conditions.

WALTHAM, Mass. and BOULDER, Colo., July 08, 2025 (GLOBE NEWSWIRE) -- Cogent Biosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on developing precision therapies for genetically defined diseases, today announced that it has commenced an underwritten public offering of $150 million of its shares of common stock. In addition, Cogent intends to grant the underwriters a 30-day option to purchase up to an additional $22.5 million of its shares of common stock on the same terms and conditions. All of the securities in the offering are being offered by Cogent. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.

Cogent Biosciences stock jumps 23.4% after bezuclastinib hits primary and all key secondary endpoints in a phase III systemic mastocytosis study.

Cogent Biosciences, Inc.‘s  COGT bezuclastinib showed meaningful clinical benefit for patients with non-advanced systemic mastocytosis, a rare and debilitating immune disorder.

-- Patients treated with bezuclastinib showed a superior mean change in total symptom score at 24 weeks (-24.3 points vs. -15.4 points, -8.91 point placebo-adjusted difference; p=0.0002), compared to patients treated with placebo, establishing new benchmarks for placebo-adjusted and absolute symptomatic improvement for this patient population -- -- Bezuclastinib demonstrated a powerful effect on mast cell burden, with 87.4% of patients treated with bezuclastinib achieving at least 50% reduction in serum tryptase compared to 0% of patients treated with placebo --

Facility provides additional funding for next steps of the Company's growth, including the expected launch of bezuclastinib in 2026 On track to report results from three pivotal trials this year, beginning with SUMMIT results in July WALTHAM, Mass. and BOULDER, Colo.

WALTHAM, Mass. and BOULDER, Colo.

The consensus price target hints at a 224.4% upside potential for Cogent Biosciences (COGT). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Three Registration-Directed Top-line Data Readouts Remain on Track in 2025: SUMMIT in NonAdvanced SM expected in July, APEX in Advanced SM expected in second half of the-year and PEAK in GIST expected by end of year Ended 1Q 2025 with $245.7 million in cash, sufficient to fund operations into late 2026 WALTHAM, Mass. and BOULDER, Colo.

WALTHAM, Mass. and BOULDER, Colo.

Four abstracts accepted for poster presentation highlight Cogent's expertise in pioneering best-in-class therapeutics Four abstracts accepted for poster presentation highlight Cogent's expertise in pioneering best-in-class therapeutics

Cogent Biosciences (COGT) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.