Cogent Biosciences Q2 net loss $16.5M; cash $218.1M; initiates Phase 2 APEX trial for bezuclastinib in AdvSM

Cogent Biosciences, Inc.

2022-Q2 EPS reported -$0.77

Net loss of $16.5M for Q2 2021 vs $7.4M in Q2 2020; R&D spend $12.4M, G&A $4.9M.
Cash and equivalents $218.1M as of June 30, 2021; expects runway into 2024.
Phase 2 APEX open-label study of bezuclastinib in Advanced Systemic Mastocytosis initiated; preliminary data expected 1H 2022.
SUMMIT Phase 2 study in NonAdvSM on track to start 2H 2021 after positive FDA interactions.
FDA granted orphan drug designation for bezuclastinib in GIST; new study with sunitinib planned 2H 2021.

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