Cogent Biosciences Announces Proposed $150 Million Public Offering of Common Stock
Cogent Biosciences (NASDAQ: COGT), a biotechnology company specializing in precision therapies, has announced a proposed $150 million public offering of common stock. The company will also grant underwriters a 30-day option to purchase up to an additional $22.5 million of shares.
The proceeds will fund the development and commercial preparation of bezuclastinib and other product candidates, support bezuclastinib's planned commercial launch, and provide working capital. J.P. Morgan, Leerink Partners, and Guggenheim Securities are serving as joint book-running managers, with LifeSci Capital as lead manager.
Cogent Biosciences (NASDAQ: COGT), un'azienda biotecnologica specializzata in terapie di precisione, ha annunciato un'offerta pubblica proposta di 150 milioni di dollari in azioni ordinarie. La società concederà inoltre agli sottoscrittori un'opzione di 30 giorni per acquistare fino a ulteriori 22,5 milioni di dollari in azioni.
I proventi serviranno a finanziare lo sviluppo e la preparazione commerciale di bezuclastinib e di altri candidati farmaci, a supportare il lancio commerciale previsto di bezuclastinib e a fornire capitale circolante. J.P. Morgan, Leerink Partners e Guggenheim Securities agiranno come gestori congiunti del libro ordini, con LifeSci Capital come gestore principale.
Cogent Biosciences (NASDAQ: COGT), una compañía biotecnológica especializada en terapias de precisión, ha anunciado una oferta pública propuesta de 150 millones de dólares en acciones ordinarias. La empresa también otorgará a los suscriptores una opción de 30 días para comprar hasta 22,5 millones de dólares adicionales en acciones.
Los fondos se destinarán al desarrollo y preparación comercial de bezuclastinib y otros candidatos a productos, apoyarán el lanzamiento comercial planeado de bezuclastinib y proporcionarán capital de trabajo. J.P. Morgan, Leerink Partners y Guggenheim Securities actúan como administradores conjuntos del libro de órdenes, con LifeSci Capital como administrador principal.
코전트 바이오사이언스(NASDAQ: COGT)는 정밀 치료제를 전문으로 하는 생명공학 회사로서 1억 5천만 달러 규모의 공개 주식 발행을 제안했다고 발표했습니다. 회사는 또한 인수인들에게 30일간 추가로 2,250만 달러 상당의 주식을 매입할 수 있는 옵션을 부여할 예정입니다.
조달 자금은 비주클라스티닙(bezuclastinib) 및 기타 후보 제품의 개발과 상업적 준비, 비주클라스티닙의 예정된 상업 출시 지원, 그리고 운전자본 확보에 사용될 예정입니다. J.P. 모건, 리어링크 파트너스, 구겐하임 시큐리티스가 공동 주관사로 참여하며, LifeSci Capital이 대표 주관사로 활동합니다.
Cogent Biosciences (NASDAQ : COGT), une société de biotechnologie spécialisée dans les thérapies de précision, a annoncé une offre publique proposée de 150 millions de dollars en actions ordinaires. La société accordera également aux souscripteurs une option de 30 jours pour acheter jusqu'à 22,5 millions de dollars d'actions supplémentaires.
Les fonds serviront à financer le développement et la préparation commerciale de bezuclastinib ainsi que d'autres candidats-médicaments, à soutenir le lancement commercial prévu de bezuclastinib et à fournir des fonds de roulement. J.P. Morgan, Leerink Partners et Guggenheim Securities agissent en tant que gestionnaires principaux conjoints, avec LifeSci Capital en tant que gestionnaire principal.
Cogent Biosciences (NASDAQ: COGT), ein Biotechnologieunternehmen, das sich auf Präzisionstherapien spezialisiert hat, hat ein geplantes öffentliches Angebot von 150 Millionen US-Dollar an Stammaktien angekündigt. Das Unternehmen gewährt den Underwritern außerdem eine 30-tägige Option, bis zu weitere 22,5 Millionen US-Dollar an Aktien zu erwerben.
Die Erlöse werden für die Entwicklung und kommerzielle Vorbereitung von Bezuclastinib und anderen Produktkandidaten verwendet, unterstützen den geplanten kommerziellen Start von Bezuclastinib und dienen der Bereitstellung von Betriebskapital. J.P. Morgan, Leerink Partners und Guggenheim Securities fungieren als gemeinsame Buchführer, mit LifeSci Capital als Hauptmanager.
- Significant capital raise of $150 million with potential for additional $22.5 million
- Proceeds will support commercial launch preparation of bezuclastinib
- Strong underwriting team including major firms J.P. Morgan, Leerink Partners, and Guggenheim Securities
- Potential dilution for existing shareholders
- Offering subject to market conditions with no guarantee of completion
- Additional shares in the market may put downward pressure on stock price
Insights
Cogent's $150M stock offering will dilute existing shareholders while funding bezuclastinib commercialization and pipeline development.
Cogent Biosciences (NASDAQ: COGT) has announced a
The offering will dilute existing shareholders but provides crucial funding for three strategic priorities: continued development of lead candidate bezuclastinib, regulatory activities, and commercial launch preparation. The involvement of major underwriters J.P. Morgan, Leerink Partners, and Guggenheim Securities adds credibility to this financing.
This raise suggests Cogent is approaching a pivotal stage in its corporate lifecycle as it transitions from clinical development toward commercialization. While the precise timing of bezuclastinib's potential market entry remains unspecified, the allocation of proceeds toward launch preparation indicates the company anticipates regulatory decisions in the near to mid-term.
The secondary offering comes through an existing shelf registration, streamlining the process. For investors, this dilution must be weighed against the potentially expanded market opportunity that adequate launch funding could create. The inclusion of "continued development" in the use of proceeds also suggests ongoing investment in earlier pipeline assets beyond bezuclastinib, potentially diversifying the company's clinical portfolio.
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
Cogent intends to use the net proceeds from the offering for continued development, regulatory and commercial preparation activities relating to bezuclastinib and other product candidates, activities to support the planned commercial launch of bezuclastinib, as well as for working capital and general corporate purposes.
J.P. Morgan, Leerink Partners and Guggenheim Securities are acting as joint book-running managers for the offering. LifeSci Capital is also acting as lead manager for the offering.
The securities described above will be offered pursuant to an automatic shelf registration statement on Form S-3ASR (File No. 333-269707), which was filed with the Securities and Exchange Commission (SEC) on February 10, 2023 and automatically became effective upon filing.
A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC. The securities described above have not been qualified under any state blue sky laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering can be made only by means of a prospectus, copies of which may be obtained at the SEC’s website at www.sec.gov, or by request to J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmorgan.com and postsalemanualrequests@broadridge.com; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Ave., New York, NY 10017, or by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
About Cogent Biosciences, Inc.
Cogent Biosciences is a biotechnology company focused on developing precision therapies for genetically defined diseases. The most advanced clinical program, bezuclastinib, is a selective tyrosine kinase inhibitor that is designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. KIT D816V is responsible for driving systemic mastocytosis, a serious disease caused by unchecked proliferation of mast cells. Exon 17 mutations are also found in patients with advanced gastrointestinal stromal tumors, a type of cancer with strong dependence on oncogenic KIT signaling. The company also has an ongoing Phase 1 study of its novel internally discovered FGFR2 inhibitor. In addition, the Cogent Research Team is developing a portfolio of novel targeted therapies to help patients fighting serious, genetically driven diseases targeting mutations in ErbB2, PI3Kα and KRAS. Cogent Biosciences is based in Waltham, MA and Boulder, CO.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, contained in this press release, including statements regarding the proposed underwritten public offering and the use of proceeds therefrom, are forward-looking statements. The use of words such as, but not limited to, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar words or expressions are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, our clinical results, the rate of enrollment in our clinical trials and other future conditions. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. We may not actually achieve the forecasts or milestones disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to our capital position and the sufficiency of our capital to fund our operations in future periods; our use of the net proceeds of the proposed underwritten public offering; risks and uncertainties related to market conditions; the risk that the offering will not be consummated; the impact of general economic, health, industrial or political conditions in the United States or internationally; and other risks and uncertainties identified in our filings with the SEC, including our Registration Statement on Form S-3ASR, which was filed with the SEC on February 10, 2023 and automatically became effective upon filing, as may be amended from time to time, together with the accompanying base prospectus contained therein and the documents incorporated by reference therein, including our most recent Annual Report on Form 10-K, our Quarterly Report on Form 10-Q and our subsequent periodic reports filed with the SEC, and the preliminary prospectus supplement related to this offering. Any forward-looking statement speaks only as of the date on which it was made. Neither we, nor our affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.
Contact:
Christi Waarich
Senior Director, Investor Relations
christi.waarich@cogentbio.com
617-830-1653
FAQ
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