Cogent Biosciences Q2 2024 net loss $59.0M; cash $389.9M; trial enrollment on track for 2025 readouts

Cogent Biosciences, Inc.

2024-Q2 EPS reported -$1.21

Cash, cash equivalents and marketable securities $389.9M as of June 30, 2024; expected to fund operations into 2027.
Net loss $59.0M for Q2 2024, compared to $44.1M in Q2 2023; R&D expenses $54.3M.
Enrollment in SUMMIT, PEAK, APEX registration-directed trials on track; topline results expected from all three in 2025.
Appointed Cole Pinnow as Chief Commercial Officer; initiated IND-enabling studies for CNS-penetrant ErbB2 program.
Plan to initiate Phase 1 trial for FGFR2 inhibitor in H2 2024; IND-enabling studies for PI3Ka program ongoing.

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