Cogent Biosciences Inc Stock Price, News & Analysis

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.

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.