Cogent Biosciences, Inc.
COGT evidence brief
What we can confirm
- BioSniper Score:
- 7.8 / 10
- Market Cap:
- $5.93B
- Lead Asset:
- Bezuclastinib (Phase 2)
What it means
What to watch
Prepared research question
What matters most for COGT—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · COGT
Cogent Biosciences, Inc. (COGT) is a biotechnology company developing precision therapies for genetically defined diseases, with its lead drug bezuclastinib advancing toward potential FDA approvals in systemic mastocytosis and GIST.
Key risk: Net loss and debt burden
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 8 clinical trials for Cogent Biosciences, Inc..
Cogent Biosciences, Inc. (COGT) is a biotechnology company developing precision therapies for genetically defined diseases, with its lead drug bezuclastinib advancing toward potential FDA approvals in systemic mastocytosis and GIST.
- Cash & equivalents of $181.2M as of 2026-06-30 [sec].
- Net income of -$96.4M for the period ending 2026-06-30 [sec].
- Shareholders' equity of $532.4M and total debt of $230.0M as of 2026-06-30 [sec].
- FDA accepted NDA for bezuclastinib in Advanced Systemic Mastocytosis with PDUFA date June 29, 2027 [news · 2026-09-15].
- Bezuclastinib has FDA Breakthrough Therapy Designation for NonAdvSM, SSM, and combination with sunitinib in GIST [pipeline].
What works
- Bezuclastinib has received FDA Breakthrough Therapy Designation for multiple indications, including NonAdvSM and GIST combination therapy [pipeline].
- The company has three NDA submissions for bezuclastinib across AdvSM, NonAdvSM, and GIST, creating a potential time-to-market moat [news · 2026-08-27].
- Positive top-line results from the SUMMIT trial in NonAdvSM showed clinically meaningful and highly statistically significant improvements across primary and key secondary endpoints [news · 2025-07-07].
What to weigh
- The company reported a net loss of -$96.4M for the period ending 2026-06-30 [sec].
- Total debt of $230.0M as of 2026-06-30 represents a significant financial obligation [sec].
- Bezuclastinib faces competition from approved drugs such as Blueprint Medicines' avapritinib and Novartis' midostaurin in AdvSM [pipeline].
- The company's pipeline includes early-stage programs (e.g., CGT6297 in Phase 1, CGT1145 preclinical) that have not yet demonstrated clinical proof-of-concept [pipeline].
From the filings
Quoted directly from source documents.
Positive top-line results from SUMMIT trial in NonAdvSM
“positive top-line results from the registration-directed Part 2 of the SUMMIT clinical trial of bezuclastinib in patients with non-advanced systemic mastocytosis ("NonAdvSM") demonstrating clinically meaningful and highly statistically significant improvements across the primary and all key secondary endpoints”
News · July 7, 2025
Catalyst timeline
- 2021-11-09 · Phase 2 start for CGT9486 in Advanced Systemic Mastocytosis — Initiated a Phase 2 open-label study of CGT9486 as a single agent in patients with advanced systemic mastocytosis.
- 2022-04-14 · Phase 3 start for CGT9486 + sunitinib in GIST — Started a Phase 3 randomized study of CGT9486 plus sunitinib versus sunitinib alone in gastrointestinal stromal tumors.
- 2022-06-27 · Phase 2 start for CGT9486 in nonadvanced systemic mastocytosis — Began a multi-part, randomized, double-blind, placebo-controlled Phase 2 study of CGT9486 in nonadvanced systemic mastocytosis.
- 2025-01-22 · Phase 1/2 start for CGT485 (FGFR2/3 inhibitor) — Initiated a Phase 1/2 study of a selective FGFR2/3 inhibitor, CGT485.
Risks & what to watch (3)›
Key risks
- Net loss and debt burden — Net loss of -$96.4M and total debt of $230.0M as of 2026-06-30 [sec].
- Competition in AdvSM — Approved drugs avapritinib and midostaurin compete in AdvSM [pipeline].
- Early-stage pipeline uncertainty — CGT6297 (Phase 1) and CGT1145 (preclinical) have not yet shown clinical efficacy [pipeline].
What to watch
- PDUFA action date for bezuclastinib in AdvSM on June 29, 2027 [news · 2026-09-15].
- FDA review outcomes for bezuclastinib NDAs in NonAdvSM and GIST [news · 2026-08-27].
- IND submission and Phase 1 initiation for CGT1145 (JAK2 V617F inhibitor) expected in 2026 [news · 2026-06-12].
- Progress of CGT6297 (PI3Kα inhibitor) through Phase 1 trials [pipeline].
Sources: Catalysts · News · Pipeline · Generated October 5, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.57 · 0% dilution
Lead: Phase 3
3 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
305
Total value held
$6.90B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 23,122,748 | $890.0M |
| blackrock, inc. | 16,045,014 | $617.6M |
| deerfield management company, l.p. | 9,043,903 | $348.1M |
| vanguard portfolio management llc | 7,333,333 | $282.3M |
| vanguard capital management llc | 6,894,959 | $265.4M |
| janus henderson group plc | 5,965,125 | $229.6M |
| state street corp | 5,663,543 | $218.0M |
| fairmount funds management llc | 5,503,418 | $211.8M |
| rtw investments, lp | 5,458,675 | $210.1M |
| tcg crossover management, llc | 4,946,894 | $190.4M |
Showing top 10 of 305 institutional holders of Cogent Biosciences, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 6.9%
- Days to cover
- 5.4
- Shares short
- 11,751,022
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
COGT short interestGovernance
Frequently asked questions
What is the AI investment thesis for Cogent Biosciences, Inc.?
Cogent Biosciences, Inc. (COGT) is a biotechnology company developing precision therapies for genetically defined diseases, with its lead drug bezuclastinib advancing toward potential FDA approvals in systemic mastocytosis and GIST.
What is Cogent Biosciences, Inc.'s lead drug candidate?
Cogent Biosciences, Inc.'s most advanced tracked candidate is Bezuclastinib (Phase 2) for Advanced Systemic Mastocytosis (AdvSM); SSM; Systemic Mastocytoses, Indolent.
Who is the CEO of Cogent Biosciences, Inc.?
Mr. Andrew R. Robbins M.B.A. is the chief executive officer of Cogent Biosciences, Inc. (COGT).
Where is Cogent Biosciences, Inc. headquartered?
Cogent Biosciences, Inc. (COGT) is headquartered in Waltham, MA, United States.
What therapeutic areas does Cogent Biosciences, Inc. focus on?
Cogent Biosciences, Inc. develops therapies across Oncology, Gastroenterology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.