Cogent Biosciences Inc Stock Price, News & Analysis

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.

Cogent Biosciences announced positive data from its Phase 2 APEX clinical trial of bezuclastinib for advanced systemic mastocytosis (AdvSM). All patients showed ≥50% reduction in serum tryptase, with a median reduction of 89%. Additionally, all assessed patients had ≥50% bone marrow mast cell reduction. The treatment demonstrated a favorable safety profile, with no severe adverse effects reported. Cogent plans to continue enrolling patients and provide further updates by the end of 2022 and in early 2023 for related clinical trials.

Cogent Biosciences will host an investor webcast on June 10, 2022, at 8:00 am ET to discuss initial clinical data from the APEX Phase 2 trial of bezuclastinib in patients with Advanced Systemic Mastocytosis. The presentation will take place during the European Hematology Association Congress, featuring leaders like President & CEO Andrew Robbins and Dr. Daniel J. DeAngelo from Dana-Farber. Interested participants can join via a dial-in number or the company’s website, where an archived version will also be available.

Cogent Biosciences, Inc. (Nasdaq: COGT) has announced that its Annual Meeting of Stockholders is set for June 7, 2022, at 9:00 AM ET, to be held virtually. Shareholders can access pertinent documents, including the agenda, on the company's website. Cogent focuses on precision therapies for genetically defined diseases, notably advancing its clinical program for bezuclastinib, which targets the KIT D816V mutation responsible for systemic mastocytosis. The company is also developing therapies for other serious diseases linked to genetic mutations.

Cogent Biosciences (Nasdaq: COGT) has announced a poster presentation at the European Hematology Association (EHA) Congress, scheduled for June 9-12, 2022. This presentation will highlight the initial results from the ongoing Phase 2 APEX trial assessing the efficacy of bezuclastinib in treating patients with advanced systemic mastocytosis (AdvSM). The abstract is accessible on the EHA website, with the poster set to be published on June 10, 2022. Bezuclastinib is aimed at inhibiting the KIT D816V mutation, a significant contributor to systemic mastocytosis.

Cogent Biosciences has announced initial data from its APEX trial of bezuclastinib, targeting advanced systemic mastocytosis, to be presented at the European Hematology Association 2022 meeting. The company reported a cash balance of $191 million at the end of Q1 2022, sufficient to fund operations into 2024. R&D expenses surged to $25.5 million from $8.2 million year-over-year, while the net loss widened to $30.6 million from $11.7 million. Cogent is progressing multiple clinical trials and research programs, enhancing its oncology pipeline.

Cogent Biosciences, a biotechnology company focused on precision therapies for genetically defined diseases, announced management's participation in a fireside chat at the LifeSci Partners Immunology and Inflammation Symposium on May 10, 2022, at 3:30 p.m. ET. The event will be accessible via a live audio webcast on the company's website, with an archived replay available for 30 days. Cogent's lead program, bezuclastinib, targets the KIT D816V mutation and other KIT exon 17 mutations, which are linked to systemic mastocytosis and gastrointestinal stromal tumors (GIST).

Cogent Biosciences (COGT) presented new nonclinical data for bezuclastinib at the AACR annual meeting, indicating its potential as a best-in-class KIT mutant inhibitor, particularly for systemic mastocytosis and gastrointestinal stromal tumors (GIST). The data highlight its selectivity against related kinases and minimal brain penetration. The company also continues to advance its FGFR2 and ErbB2 inhibitor programs, with plans to file an IND for FGFR2 in the latter half of 2023. Initial APEX trial results are expected later this quarter.

On March 29, 2022, Cogent Biosciences (Nasdaq: COGT) announced a Virtual R&D Investor Event scheduled for April 8, 2022, at 4:05 PM EDT. The event will include updates on nonclinical data for bezuclastinib, a KIT mutant inhibitor, and insights into their strategy for developing small molecules for genetically defined diseases. Featured speakers include Andrew Robbins, John Robinson, and Jessica Sachs. Additionally, Cogent will present two posters at the AACR Annual Meeting 2022, showcasing new data on bezuclastinib and FGFR inhibitors. Registration for the event is available online.