Cogent Biosciences Q1 net loss widens to $38.6M; cash $220.3M, runway into 2025; AdvSM trial expands

Cogent Biosciences, Inc.

2023-Q1 EPS reported -$0.55

Cash and marketable securities $220.3M at March 31, 2023, down from $259.3M at Dec 31; funding expected into 2025.
Net loss of $38.6M for Q1 2023 vs $30.6M in Q1 2022; R&D expenses $36.0M (+41% YoY) driven by clinical trials.
Initiated Part 2 of Phase 2 APEX trial in Advanced Systemic Mastocytosis at 150 mg; enrollment target by end-2024.
FDA granted Orphan Drug Designation for bezuclastinib in mastocytosis (including SM); ~30,000 annual US diagnoses.
Upcoming data: PEAK GIST lead-in safety/efficacy at ASCO June 2023; SUMMIT NonAdvSM and APEX Part 1 data in 2H 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cogent Biosciences, Inc. reported the first quarter ended March 31, 2023 results: net income $38.6 million.

Period: the first quarter ended March 31, 2023
Net income: $38.6 million
Result: reported results

Exact text from the filing

Net loss was $38.6 million for the first quarter of 2023 compared to a net loss of $30.6 million for the first quarter of 2022.

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Source: SEC EDGAR

accession 0000950170-23-019162

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