Cogent Biosciences Q3 net loss $19.1M; initiates SUMMIT Phase 2, cash $202.9M

Cogent Biosciences, Inc.

2022-Q3 EPS reported -$1.25

Net loss of $19.1M in Q3 2021 vs $50.0M in Q3 2020 (prior included $46.9M asset acquisition charge).
Cash and equivalents $202.9M; expected to fund operations into 2024.
Initiated SUMMIT Phase 2 trial for bezuclastinib in nonadvanced systemic mastocytosis.
APEX Phase 2 trial for AdvSM on track for preliminary data readout H1 2022.
Appointed Dana Martin as Chief Patient Officer and Courtney Watson as VP Clinical Development.

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