logo
Cogent Biosciences Announces Pricing of Upsized Public Offering of Shares of Common Stock

Cogent Biosciences Announces Pricing of Upsized Public Offering of Shares of Common Stock

Yahoo09-07-2025
WALTHAM, Mass. and BOULDER, Colo., July 08, 2025 (GLOBE NEWSWIRE) -- Cogent Biosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on developing precision therapies for genetically defined diseases, today announced the pricing of its previously announced underwritten public offering of 22,222,223 shares of its common stock, offered at a public offering price of $9.00 per share. The aggregate gross proceeds to Cogent from this offering are expected to be approximately $200 million, before deducting underwriting discounts and commissions and other offering expenses. In addition, Cogent has granted the underwriters a 30-day option to purchase up to an additional 3,333,333 shares of its common stock on the same terms and conditions. All of the securities in the offering are being sold by Cogent. The offering is expected to close on or about July 10, 2025, subject to the satisfaction of customary closing conditions.
Cogent intends to use the net proceeds from the offering for continued development, regulatory and commercial preparation activities relating to bezuclastinib and other product candidates, activities to support the planned commercial launch of bezuclastinib as well as for working capital and general corporate purposes.
J.P. Morgan, Leerink Partners and Guggenheim Securities are acting as joint book-running managers for the offering. LifeSci Capital is also acting as lead manager for the offering.
The securities described above are being offered pursuant to an automatic shelf registration statement on Form S-3ASR (File No. 333-269707), which was filed with the Securities and Exchange Commission (SEC) on February 10, 2023 and automatically became effective upon filing.
A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering were filed with the SEC on July 8, 2025. A final prospectus supplement and the accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC. The securities described above have not been qualified under any state blue sky laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering can be made only by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained at the SEC's website at www.sec.gov, or by request to J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmorgan.com and postsalemanualrequests@broadridge.com; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Ave., New York, NY 10017, or by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
About Cogent Biosciences, Inc.
Cogent Biosciences is a biotechnology company focused on developing precision therapies for genetically defined diseases. The most advanced clinical program, bezuclastinib, is a selective tyrosine kinase inhibitor that is designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. KIT D816V is responsible for driving systemic mastocytosis, a serious disease caused by unchecked proliferation of mast cells. Exon 17 mutations are also found in patients with advanced gastrointestinal stromal tumors, a type of cancer with strong dependence on oncogenic KIT signaling. The company also has an ongoing Phase 1 study of its novel internally discovered FGFR2 inhibitor. In addition, the Cogent Research Team is developing a portfolio of novel targeted therapies to help patients fighting serious, genetically driven diseases targeting mutations in ErbB2, PI3Kα and KRAS. Cogent Biosciences is based in Waltham, MA and Boulder, CO.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, contained in this press release, including statements regarding the completion of the public offering and the use of proceeds therefrom, are forward-looking statements. The use of words such as, but not limited to, 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' or 'would' and similar words or expressions are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, our clinical results, the rate of enrollment in our clinical trials and other future conditions. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. We may not actually achieve the forecasts or milestones disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to our capital position and the sufficiency of our capital to fund our operations in future periods; our use of the net proceeds of the underwritten public offering; risks and uncertainties related to market conditions and the satisfaction of customary closing conditions related to the underwritten public offering; the impact of general economic, health, industrial or political conditions in the United States or internationally; and other risks and uncertainties identified in our filings with the SEC, including our Registration Statement on Form S-3ASR, which was filed with the SEC on February 10, 2023 and automatically became effective upon filing, as may be amended from time to time, together with the accompanying base prospectus contained therein and the documents incorporated by reference therein, including our most recent Annual Report on Form 10-K, our Quarterly Report on Form 10-Q and our subsequent periodic reports filed with the SEC, and the preliminary prospectus supplement related to this offering. Any forward-looking statement speaks only as of the date on which it was made. Neither we, nor our affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.
Contact:
Christi WaarichSenior Director, Investor Relationschristi.waarich@cogentbio.com617-830-1653
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Charter Earnings: What To Look For From CHTR
Charter Earnings: What To Look For From CHTR

Yahoo

time6 minutes ago

  • Yahoo

Charter Earnings: What To Look For From CHTR

Cable, internet, and telephone services provider Charter (NASDAQ:CHTR) will be reporting earnings this Friday before the bell. Here's what you need to know. Charter met analysts' revenue expectations last quarter, reporting revenues of $13.74 billion, flat year on year. It was a mixed quarter for the company, with a decent beat of analysts' EBITDA estimates but a miss of analysts' EPS estimates. It reported 30.02 million internet subscribers, down 1.6% year on year. Is Charter a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Charter's revenue to be flat year on year at $13.76 billion, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $9.77 per share. Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 6 upward revisions over the last 30 days (we track 17 analysts). Charter has missed Wall Street's revenue estimates three times over the last two years. Looking at Charter's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. AT&T delivered year-on-year revenue growth of 3.5%, beating analysts' expectations by 1.3%, and Verizon reported revenues up 5.2%, topping estimates by 2.3%. Verizon traded up 5.3% following the results. Read our full analysis of AT&T's results here and Verizon's results here. There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 12.9% on average over the last month. Charter is down 1.4% during the same time and is heading into earnings with an average analyst price target of $442.67 (compared to the current share price of $398). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Saia (SAIA) Q2 Earnings Report Preview: What To Look For
Saia (SAIA) Q2 Earnings Report Preview: What To Look For

Yahoo

time6 minutes ago

  • Yahoo

Saia (SAIA) Q2 Earnings Report Preview: What To Look For

Freight transportation and logistics provider Saia (NASDAQ:SAIA) will be announcing earnings results this Friday morning. Here's what to look for. Saia missed analysts' revenue expectations by 3.1% last quarter, reporting revenues of $787.6 million, up 4.3% year on year. It was a disappointing quarter for the company, with a significant miss of analysts' adjusted operating income estimates and a significant miss of analysts' EBITDA estimates. Is Saia a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Saia's revenue to decline 1.7% year on year to $809.5 million, a reversal from the 18.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.40 per share. Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 9 upward revisions over the last 30 days (we track 15 analysts). Saia has missed Wall Street's revenue estimates four times over the last two years. Looking at Saia's peers in the transportation and logistics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Covenant Logistics delivered year-on-year revenue growth of 5.3%, beating analysts' expectations by 3.7%, and Knight-Swift Transportation reported flat revenue, in line with consensus estimates. Read our full analysis of Covenant Logistics's results here and Knight-Swift Transportation's results here. There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 7.7% on average over the last month. Saia is up 11.6% during the same time and is heading into earnings with an average analyst price target of $298.15 (compared to the current share price of $307.03). Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Webull (BULL) Ends 3-Day Win on Profit-Taking
Webull (BULL) Ends 3-Day Win on Profit-Taking

Yahoo

time12 minutes ago

  • Yahoo

Webull (BULL) Ends 3-Day Win on Profit-Taking

We recently published . Webull Corporation (NASDAQ:BULL) is one of the biggest losers on Monday. Webull ended a three-day winning streak on Monday, dropping 13.44 percent to close at $14.62 apiece as investors started taking profits following the previous day's surge. In recent news, Webull Corporation (NASDAQ:BULL) announced the reintegration of cryptocurrency trading into its group platform as it eyes reintroducing crypto trading to its global customer base following its launch in Brazil last month. Additional markets are also expected to take place, including making cryptocurrency trading available to its US customers through the Webull app by the end of the third quarter. 'The improving clarity of cryptocurrency regulations, both in the United States and internationally, underlies our decision to bring crypto trading back to our platform,' Webull Corporation (NASDAQ:BULL) President and CEO Anthony Denier said. A technical analyst using a cloud-based analytics dashboard for financial services. 'With this consolidation, the company will be better positioned to meet the needs of our customers. We are excited about the evolution of the financial services industry as it begins to adopt blockchain technology, and we've already seen great success with our rollout in Brazil. We look forward to tapping additional markets this year,' he added. While we acknowledge the potential of BULL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store