Cogent Biosciences Inc Stock Price, News & Analysis

Cogent Biosciences (Nasdaq: COGT) has appointed Dr. Rachael Easton as Vice President, Head of Clinical Development. Dr. Easton brings significant experience from her previous roles in oncology clinical development at GSK, Immunocore, and Sanofi. Her expertise is expected to advance Cogent's clinical programs, particularly in the development of bezuclastinib for Systemic Mastocytosis and gastrointestinal stromal tumors (GIST). An inducement equity award comprising 51,000 stock options was granted to her. Cogent aims to deliver targeted therapies for genetically defined diseases.

Cogent Biosciences has initiated a Phase 3 clinical trial (PEAK) studying the combination of bezuclastinib and sunitinib for patients with gastrointestinal stromal tumors (GIST) resistant to imatinib. Initial safety data will be presented at CTOS 2022. The company reported a cash position of $289.1 million, sufficient to fund operations into 2025. R&D expenses increased to $29.9 million compared to $14.8 million in Q3 2021, while net loss was $35.1 million, up from $19.1 million year-over-year.

Cogent Biosciences, Inc. (Nasdaq: COGT) announced upcoming participation in two major investor conferences. The first is the Jefferies London Healthcare Conference on November 16, 2022, at 11:30 a.m. GMT (6:30 a.m. ET). The second is the Piper Sandler 34th Annual Healthcare Conference on November 30, 2022, at 11:00 a.m. ET. Live webcasts of these events will be available on Cogent's website, with replays archived for 30 days. Cogent focuses on precision therapies for genetically defined diseases, with its leading program targeting the KIT D816V mutation.

Cogent Biosciences (Nasdaq: COGT) will present findings on bezuclastinib at the 64th Annual Meeting of the American Society of Hematology (ASH) from December 10-13, 2022, in New Orleans.

An oral presentation will cover the preliminary safety and efficacy from a Phase 2 study in adults with advanced systemic mastocytosis, scheduled for December 11 at 4:45 PM CST. Additionally, a poster presentation on a Phase 2 study for nonadvanced systemic mastocytosis will occur the same day.

A virtual investor event is planned for December 12, 2022, with further details to follow.

Cogent Biosciences (Nasdaq: COGT) announced two preclinical posters to be presented at the EORTC-NCI-AACR annual meeting from October 26-28, 2022. The first poster focuses on the FGFR2 program, showcasing strong efficacy against resistance mutations and advancements in pharmacokinetic assessment. The second highlights a novel ErbB2 inhibitor, demonstrating robust inhibition of multiple mutations while sparing EGFR activity. Both programs aim to meet significant unmet needs in cancer therapy. This reinforces Cogent's commitment to delivering innovative treatments for genetically driven diseases.

Cogent Biosciences, Inc. (Nasdaq: COGT) reported financial results for Q2 2022, ending with $325.6 million in cash, sufficient for operations into 2025. The company highlighted positive initial clinical data from its APEX trial of bezuclastinib, which showed rapid reduction in serum tryptase in 10 out of 11 patients. Research and development expenses rose to $29.5 million from $12.4 million year-over-year. The net loss increased to $34.9 million from $16.5 million in Q2 2021. Cogent plans to present additional data from the APEX trial by the end of 2022 and from the SUMMIT trial in the first half of 2023.

Cogent Biosciences (COGT) has successfully completed an upsized underwritten public offering, selling 17,899,698 shares of common stock and 3,030,302 pre-funded warrants, raising approximately $172.6 million in gross proceeds. The shares were priced at $8.25 each, with pre-funded warrants at $8.24. The company plans to use the net proceeds for development and regulatory activities related to its product candidates, particularly bezuclastinib, along with general corporate purposes. Jefferies, Piper Sandler, and Guggenheim Securities managed the offering.

Cogent Biosciences (Nasdaq: COGT) announced a public offering of 15.17 million shares priced at $8.25 each, with an additional 3.03 million pre-funded warrants at $8.24. The total gross proceeds are expected to reach around $150 million, up from a previously set $125 million. The funds will support the development and commercialization of bezuclastinib and other product candidates. The offering, closing on or about June 16, 2022, is supported by Jefferies, Piper Sandler, and Guggenheim Securities.

Cogent Biosciences (Nasdaq: COGT) announced a public offering of $125 million shares of its common stock, with a 30-day option for underwriters to purchase an additional $18.75 million. The proceeds will fund development, regulatory activities, and working capital for bezuclastinib and other product candidates.

Joint book-running managers for the offering include Jefferies, Piper Sandler & Co., and Guggenheim Securities. The offering's registration statement became effective on May 24, 2022.