{"success":true,"data":{"pressRelease":{"id":"20905","rtpr_id":"nGNXbvHRz8","ticker":"COGT","exchange":"NASDAQ","all_tickers":["COGT"],"title":"Cogent Biosciences Reports Recent Business Highlights and First Quarter 2026 Financial Results","author":"Globe Newswire","published_at":"2026-05-05T12:00:02.092Z","article_body":"- Planning for dual launches of bezuclastinib in Systemic Mastocytosis and\nGastrointestinal Stromal Tumors (GIST)\n\n- Pivotal data from Phase 3 PEAK trial in GIST patients selected for oral\npresentation at 2026 ASCO annual meeting \n\n- Ended 1Q 2026 with $866.4 million in cash, sufficient to fund operations\ninto 2028\n\nWALTHAM, Mass. and BOULDER, Colo., May 05, 2026 (GLOBE NEWSWIRE) -- Cogent\nBiosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on\ndeveloping precision therapies for genetically defined diseases, today\nprovided a business update and announced financial results for the first\nquarter ended March 31, 2026.\n\n“2026 is shaping up to be a pivotal year for Cogent,” said Andrew Robbins,\nCogent’s President and Chief Executive Officer. “We have two NDAs for\nbezuclastinib under FDA review and expect to submit a third in the first half\nof this year. These milestones highlight the breadth of bezuclastinib’s\npotential across GIST and KIT-driven diseases. With a strong balance sheet, we\nare focused on completing our commercial build and preparing for multiple\npotential launches.”\n\nRecent Business Highlights\n* Announced details for an oral presentation on May 30 at the 2026 American\nSociety of Clinical Oncology (ASCO) Annual Meeting featuring pivotal data from\nthe Phase 3 PEAK trial in patients with Gastrointestinal Stromal Tumors (GIST)\nwho have received prior treatment with imatinib\n\n\n* Presented updated preclinical data from the company’s KRAS and ErbB2\ncandidates at the American Association of Cancer Research (AACR) annual\nmeeting\n\n\n* Announced submission of the company’s New Drug Application (NDA) to the\nU.S. Food and Drug Administration (FDA) for bezuclastinib in patients with\nGIST who have received prior treatment with imatinib. Based on the positive\nresults from the PEAK trial, the bezuclastinib NDA was submitted under the\nFDA’s Real-Time Oncology Review (RTOR) program, which is intended to enable\na more streamlined review process. Bezuclastinib was also granted Breakthrough\nTherapy Designation as a treatment for GIST earlier in 2026.\n\n\n* Announced the FDA accepted its NDA for bezuclastinib in patients with\nNonAdvanced Systemic Mastocytosis (NonAdvSM) and assigned a Prescription Drug\nUser Fee Act (PDUFA) target action date of December 30, 2026\n\n\n* Presented six posters with bezuclastinib in patients with NonAdvSM at the\n2026 AAAAI annual meeting\n\n\n* Initiated Phase 1 studies for both CGT4255, a novel, selective,\nbrain-penetrant ErbB2 inhibitor and CGT6297, a novel, selective and potential\nbest-in-class PI3Kα inhibitor\nUpcoming Milestones\n\nBezuclastinib\n* Submit the APEX NDA in the first half of 2026 for bezuclastinib in patients\nwith Advanced Systemic Mastocytosis (AdvSM)\n\n\n* Present detailed clinical data from the Phase 3 PEAK pivotal trial at the\n2026 ASCO annual meeting and from the APEX pivotal trial in the first half of\n2026\n\n\n* Initiate a Phase 2 trial in the first half of 2026 investigating the benefit\nof the bezuclastinib plus sunitinib combination for first-line GIST patients\nwith exon 9 mutations who are naive to, or recently initiated treatment with,\nimatinib\n\n\n* Pending FDA approval(s), launch bezuclastinib in the second half of 2026\nPipeline\n* Submit Investigational New Drug (IND) applications for CGT1815, Cogent’s\nnovel, selective pan-KRAS(ON) inhibitor and CGT1145, Cogent’s novel,\nselective JAK2 V617F inhibitor\n\n\n* Complete dose escalation for CGT4255, Cogent’s CNS-penetrant, selective\nmutant ErbB2 inhibitor\nBezuclastinib - Expanded Access Program\n\nWorking with the FDA, Cogent has established active Expanded Access Programs\n(EAPs) for U.S. patients with GIST or SM who meet disease-specific criteria\nand could benefit from treatment with bezuclastinib or the combination of\nbezuclastinib and sunitinib. For more information please visit:\nhttps://www.cogentbio.com/bezuclastinib-program-development/#our-expanded-access-policy\n\nUpcoming Investor Conference\n* Jefferies Healthcare Conference on June 3 at 11:05 a.m. ET.\n * A live webcast can be accessed on the Investors & Media page of Cogent’s\nwebsite at investors.cogentbio.com/events. A replay will be available\napproximately two hours after completion of the event and will be archived for\nup to 30 days.\nFirst Quarter 2026 Financial Results\n\nCash and Cash Equivalents: As of March 31, 2026, cash, cash equivalents and\nmarketable securities were $866.4 million, which includes net proceeds of\n$45.7 million from shares recently sold under the Company’s at-the-market\n(ATM) stock offering as well as non-recurring payments totaling $18.0 million\nrelated to annual performance-based bonus compensation and a milestone payment\nto Plexxikon. Based on our current plans, we expect our existing cash, cash\nequivalents and marketable securities will be sufficient to fund our operating\nexpenses and capital expenditure requirements into 2028, including the\ncommercialization of bezuclastinib in SM and GIST.\n\nR&D Expenses: Research and development expenses were $75.4 million for the\nfirst quarter of 2026 compared to $63.0 million for the first quarter of 2025.\nThe increase was driven by increased early-stage, preclinical and discovery\nprograms as we advance our pipeline of programs into Phase 1 clinical trials\nand IND-enabling studies, and includes one-time costs associated with the wind\ndown of the FGFR clinical program. R&D expenses include non-cash stock\ncompensation expense of $8.9 million for the first quarter of 2026 as compared\nto $5.3 million for the first quarter of 2025.\n\nG&A Expenses: General and administrative expenses were $28.2 million for the\nfirst quarter of 2026 compared to $11.9 million for the first quarter of 2025.\nThe increase was primarily due to the growth of the organization and\nactivities related to the anticipated commercial launch of bezuclastinib. G&A\nexpenses include non-cash stock compensation expense of $8.0 million for the\nfirst quarter of 2026 as compared to $4.8 million for the first quarter of\n2025.\n\nNet Loss: Net loss was $97.4 million for the first quarter of 2026 compared\nto a net loss of $72.0 million for the first quarter of 2025.\n\nInducement Grants Under Nasdaq Listing Rule 5635(c)(4)\n\nCogent also announced today that, on April 29, 2026, the Compensation\nCommittee of Cogent’s Board of Directors, made up entirely of independent\ndirectors, approved the grants of “inducement” equity awards to seven new\nemployees under the company’s 2020 Inducement Plan with a grant date of\nApril 29, 2026. The awards were approved in accordance with Listing Rule\n5635(c)(4) of the corporate governance rules of the Nasdaq Stock Market. The\nemployees received, in the aggregate, (i) nonqualified options to purchase\n62,600 shares of Cogent common stock and (ii) 48,600 restricted stock units\n(RSUs). Each option has a 10-year term, an exercise price equal to the closing\nprice of Cogent’s common stock on the grant date, and a 4-year vesting\nschedule with 25% vesting on the 1-year anniversary of the grant date and the\nremainder vesting in equal monthly installments over the subsequent 36 months,\nprovided such employee remains employed through each such vesting date. The\nRSUs vest annually in equal installments over 4 years from the grant date,\nprovided such employee remains employed through each such vesting date.\n\nAbout Cogent Biosciences, Inc.\n\nCogent Biosciences is a biotechnology company focused on developing precision\ntherapies for genetically defined diseases. The most advanced clinical\nprogram, bezuclastinib, is a selective tyrosine kinase inhibitor that is\ndesigned to potently inhibit the KIT D816V mutation as well as other mutations\nin KIT exon 17. KIT D816V is responsible for driving Systemic Mastocytosis, a\nserious disease caused by unchecked proliferation of mast cells. Exon 17\nmutations are also found in patients with advanced Gastrointestinal Stromal\nTumors (GIST), a type of cancer with strong dependence on oncogenic KIT\nsignaling. In addition, the Cogent Research Team is developing a portfolio of\nnovel targeted therapies to help patients fighting serious, genetically driven\ndiseases targeting mutations in ErbB2, PI3Kα, KRAS and JAK2. Cogent\nBiosciences is based in Waltham, MA and Boulder, CO. Visit our website for\nmore information at www.cogentbio.com. Follow Cogent Biosciences on social\nmedia: X\n(https://www.globenewswire.com/Tracker?data=IFO7_t8Nd5aFQWMqdnWJRqVoaDCLsTdlQ6VHu0fF0Wpn_tZP9wutunjQ8i4AMPP_y9-yGPSeDNR2eO56g0mbn0fSUYyKe9PAaIZVgsMkwSEwnRa4eOOy7GqZQ2Iv88ekfQIOyQkX70295liNn7xtUGW4uTSMsCdA6-LZeFAwGTzrGxkVwjSXoBIT20R_qN2PQ6FbRPY00p9f6861fae4u55RKDF8wdB38LLidcl2_6iAs9xVJhuO5KgCnx24NRh51-_N4cnGDrUDLUkVw0pi7xoS9B7MQySgn6E2YKR7f2-RnsPhNmQKF-84WWNsy1gaRu8Qa992cg-HgMl0T-h9BW_iZdVHnBCdnrtnv6hrYNiZ_GNWbKsNwRbxw6aJwn3-Kbpy6oo_GqfQHPIkxcPv-KN2r5u3KtIBhLwMga-KQUDZy31PXFmueag1jVOAEvmdMwFKsa4JkUbCQmsk8dgGuSD6i4mse2Bl-4KZRaq1hs-ZidCy9wCIE4-RDgtX_Rjez_y32vepCQMu7htGgghyoD7tBZzxfO7RJHpjIyApj4YIuMbWPR20W2hTR79UTNFodNIGk6K-_OjbszCdiSfFT4owkt6019AGsJrQzV9rxK1SIUNGquhFzcOWwQBBBFdagDHZ-2F9uKETWCA9ka661kfJIB93l3J-aLfWBZQpf3SgLavJhA_AdYd-QSdbbMnFD_SFiY3ogV1zklC9XPSQRo1NHHsEvKjbjwHG8ldPOOnHDyWUieq-68C8JyHkC-XhqrEhYoxKpgqfck3_T3HIxCph-alGNc76Apu-auzFOvAIrArPC7jMcAPioEFQQv8W3rEPi2ssGrl_hmKSuOzmu-ewVcq1eJhveQoTJM1AQ0eVuStfedc3xBE_O8ziyN6bbcvfnwqF_CjJmOZBc5sm4NAG8Ik2S9tHwKjEcv-tc15LT4pm3hW9OanITBM-vrbMIc4VRwJ5znYaes9xKXpmeOIcPZ4adjr66yl-Ew0k10QJEjSGnn_4gMkTERgi1Dk1XrNOb2oKrYq9U_PHr2-8qA==) (formerly\nknown as Twitter) and LinkedIn\n(https://www.globenewswire.com/Tracker?data=Goxf0JtUjbZFtD23Ou6XbPHbttL5D1_3lQxdmxNIzsADUZCkJ28PEOTVIv34fli5TOqu3vWOha26sVkRX_4BGEAJcFd9WgYqf7vrhew5yhrQhSeXlBllFzsq_JBNWt68HadHlWwAM97QzgqEnBOsU7uTB_tyCRuAhag2VTjvv3tglDV7jzhnvyUHpqifn2_KxO8pRWoNxnt-5M4_BIRHQLJE62rbJdmV8qE8CzAIOfyLQFf4Jd24DCfoRG_UpV-3kXYm94F2GFmSYrdwfOOXYoFg3RCAMNhDCFxC7M0acj_-zcGuN6YIM-Zz4geB8EkyhPvtYjWtHbdltWPCKsHc-atzaHTpnmTCjamreWsd7bAXirfWZ4bWuDbNQtXR9Ug_nMHtNuZ8HLpLraPsuVYSBjyAKO6K73LI_hBd1JkquPtMf95F0qmMpLrWnikc5k0au8Qu8y3njcbRFqIucIW4QyyTgs_PrRV35p3HBfcs2WE=).\nInformation that may be important to investors will be routinely posted on our\nwebsite and X\n(https://www.globenewswire.com/Tracker?data=F__WQUAREH8QAfo_ZMHNMnXlV_hPEEaqUISDLcvbZhyvWuRGMURjOyxkemqSZX4sdPMM5Dn3ltNHdiZPxQohCBPloz_pvKIxO2vtYl3IkXmvVrKFYucNrHKauvraICRwIB3e2m-Zt3Bq2uqUTKHJXesd-VPfHELkdY7GFb2bw5D20YDSEoB5S39h-A6Yf3c7TAG2SipVfC0aVbgA9N7zvjYJJ6ynKQGTLgql2-blisgq44Oqry4uCMIXnMP2H86maU_KjEizZYXmFnFpHw0lViu05UOsT3WgRoIEcI8WHnMA5bVM_5jQL6n6QpSTU2qOBDe7MlTyaQ6e__VzMlHXHjMWxLrVwQn3HEZrmWNlDyG-Dy1NgQiHfsBJVKQlmJ3brmVUNlwMj94Y935kEyPwMI5lOW77n6hybM2P7fHJOGqdZK1BTuXN4qjYqEsD9ibe_v1he8gSpPBsTCfLHNkNSVmJeWUTnGuQIo7C-w2lHIV4X8AAuqN6Acc1rarWP0dfL3U4mWuyzFH4eGO0Y4w5UbN_4WIIeGUJk1Pm3uFVtc6ho_8nAZQKkUbYZ9bgaBVSJiPzT2EeSfI0IVOghUf9iW32lUALO9L1nRrhEmkBecMJurHpFn_coZJD0wYOhWKmDgk6Zu00o6zEi8g7uMOnKpgxM9RZMP2FirW_wCMvtmZhDGPW-YZEy5BCi6qAv4JIW0kG3hi8u9ZbWkNhajZh4DL_0Gsd8aD6_HXNE5t9to89zgWirb8snhQeVNXTzrmHfAzYhaT97bG2bAX9wLePlgp1xkXF6PRa4J6-oes3G3LdTZiDND2XUxiPZ8rLBOITDgSwszVKJ1Xui6KcyO7kx7oeTSk1ggj_8e6gMq_EEzLvBhEINICIExqFapm1gT0TBVQep25ebg4GJUIiTk2x2WQojPT09ol-D0lDRWgq3HzTpZKSiFwYCp0-X3E37Ao7Je6_jRHvljdidZzQGEhOxszWEmlXKbPT0_6n3WZ_mpLXuwquaVrUQDN6lKnTCSAVAuBKcKbzfxq6O-toNoj30g==).\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995, including, but not\nlimited to, statements regarding: the anticipated commercial launches of\nbezuclastinib in SM and GIST starting in the second half of 2026; the\nanticipated cash runway into 2028; the expectation to submit an NDA for\nbezuclastinib in patients with AdvSM in the first half of 2026; anticipated\npresentations of clinical data from PEAK and APEX; plans to initiate a Phase 2\ntrial investigating the benefit of the bezuclastinib plus sunitinib\ncombination for first-line GIST patients with exon 9 mutations who are naive\nto, or recently initiated treatment with, imatinib; plans to submit INDs for\nCGT1815, the company’s novel, selective pan-KRAS(ON) inhibitor, and CGT1145,\nthe company’s novel, selective JAK2 V617F inhibitor; and plans to complete\ndose escalation studies for CGT4255, Cogent’s CNS-penetrant, selective\nmutant ErbB2 inhibitor. The use of words such as, but not limited to,\n\"anticipate,\" \"believe,\" \"continue,\" \"could,\" \"estimate,\" \"expect,\" \"intend,\"\n\"may,\" \"might,\" \"plan,\" \"potential,\" \"predict,\" \"project,\" \"should,\" \"target,\"\n\"will,\" or \"would\" and similar words expressions are intended to identify\nforward-looking statements. Forward-looking statements are neither historical\nfacts nor assurances of future performance. Instead, they are based on our\ncurrent beliefs, expectations and assumptions regarding the future of our\nbusiness, future plans and strategies, our clinical results, the rate of\nenrollment in our clinical trials and other future conditions. New risks and\nuncertainties may emerge from time to time, and it is not possible to predict\nall risks and uncertainties. No representations or warranties (expressed or\nimplied) are made about the accuracy of any such forward-looking statements.\nWe may not actually achieve the forecasts or milestones disclosed in our\nforward-looking statements, and you should not place undue reliance on our\nforward-looking statements. Such forward-looking statements are subject to a\nnumber of material risks and uncertainties including but not limited to those\nset forth under the caption \"Risk Factors\" in Cogent's most recent Annual\nReport on Form 10-K filed with the SEC, as well as discussions of potential\nrisks, uncertainties, and other important factors in our subsequent filings\nwith the SEC. Any forward-looking statement speaks only as of the date on\nwhich it was made. Neither we, nor our affiliates, advisors or\nrepresentatives, undertake any obligation to publicly update or revise any\nforward-looking statement, whether as result of new information, future events\nor otherwise, except as required by law. These forward-looking statements\nshould not be relied upon as representing our views as of any date subsequent\nto the date hereof.\n\n\n\n COGENT BIOSCIENCES, INC.                                                                    \n CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS                                             \n (in thousands) (unaudited)                                                                  \n                                                                                             \n                              Three Months Ended March 31,                                   \n                              2026                                    2025                   \n Operating expenses:                                                                         \n Research and development     $         75,365                        $         63,029       \n General and administrative             28,242                                  11,904       \n Total operating expenses               103,607                                 74,933       \n Loss from operations                   (103,607  )                             (74,933   )  \n Other income:                                                                               \n Interest income                        7,608                                   2,952        \n Interest expense                       (1,213    )                             —            \n Other income (expense), net            (140      )                             (5        )  \n Total other income, net                6,255                                   2,947        \n Net loss                     $         (97,352   )                   $         (71,986   )  \n\n\n\n COGENT BIOSCIENCES, INC.                                                                    \n SELECTED CONDENSED CONSOLIDATED BALANCE SHEET DATA                                          \n (in thousands) (unaudited)                                                                  \n                                                                                             \n                                                     March 31,           December 31,        \n                                                     2026                2025                \n Cash, cash equivalents and marketable securities    $      866,378      $        900,765    \n Working capital                                     $      819,822      $        846,402    \n Total assets                                        $      903,006      $        937,607    \n Total liabilities                                   $      295,313      $        301,236    \n Total stockholders’ equity                          $      607,693      $        636,371    \n\n\n\nContact:\nChristi Waarich\nSenior Director, Investor Relations\nchristi.waarich@cogentbio.com\n617-830-1653\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2b8cbfab-a4de-4e17-bdd6-7ef597a95d2e)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXbvHRz8","title":"Cogent Biosciences Reports Recent Business Highlights and First Quarter 2026 Financial Results","author":"Globe Newswire","ticker":"COGT","created":"2026-05-05T12:00:02.092Z","tickers":["COGT"],"exchange":"NASDAQ","article_body":"- Planning for dual launches of bezuclastinib in Systemic Mastocytosis and\nGastrointestinal Stromal Tumors (GIST)\n\n- Pivotal data from Phase 3 PEAK trial in GIST patients selected for oral\npresentation at 2026 ASCO annual meeting \n\n- Ended 1Q 2026 with $866.4 million in cash, sufficient to fund operations\ninto 2028\n\nWALTHAM, Mass. and BOULDER, Colo., May 05, 2026 (GLOBE NEWSWIRE) -- Cogent\nBiosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on\ndeveloping precision therapies for genetically defined diseases, today\nprovided a business update and announced financial results for the first\nquarter ended March 31, 2026.\n\n“2026 is shaping up to be a pivotal year for Cogent,” said Andrew Robbins,\nCogent’s President and Chief Executive Officer. “We have two NDAs for\nbezuclastinib under FDA review and expect to submit a third in the first half\nof this year. These milestones highlight the breadth of bezuclastinib’s\npotential across GIST and KIT-driven diseases. With a strong balance sheet, we\nare focused on completing our commercial build and preparing for multiple\npotential launches.”\n\nRecent Business Highlights\n* Announced details for an oral presentation on May 30 at the 2026 American\nSociety of Clinical Oncology (ASCO) Annual Meeting featuring pivotal data from\nthe Phase 3 PEAK trial in patients with Gastrointestinal Stromal Tumors (GIST)\nwho have received prior treatment with imatinib\n\n\n* Presented updated preclinical data from the company’s KRAS and ErbB2\ncandidates at the American Association of Cancer Research (AACR) annual\nmeeting\n\n\n* Announced submission of the company’s New Drug Application (NDA) to the\nU.S. Food and Drug Administration (FDA) for bezuclastinib in patients with\nGIST who have received prior treatment with imatinib. Based on the positive\nresults from the PEAK trial, the bezuclastinib NDA was submitted under the\nFDA’s Real-Time Oncology Review (RTOR) program, which is intended to enable\na more streamlined review process. Bezuclastinib was also granted Breakthrough\nTherapy Designation as a treatment for GIST earlier in 2026.\n\n\n* Announced the FDA accepted its NDA for bezuclastinib in patients with\nNonAdvanced Systemic Mastocytosis (NonAdvSM) and assigned a Prescription Drug\nUser Fee Act (PDUFA) target action date of December 30, 2026\n\n\n* Presented six posters with bezuclastinib in patients with NonAdvSM at the\n2026 AAAAI annual meeting\n\n\n* Initiated Phase 1 studies for both CGT4255, a novel, selective,\nbrain-penetrant ErbB2 inhibitor and CGT6297, a novel, selective and potential\nbest-in-class PI3Kα inhibitor\nUpcoming Milestones\n\nBezuclastinib\n* Submit the APEX NDA in the first half of 2026 for bezuclastinib in patients\nwith Advanced Systemic Mastocytosis (AdvSM)\n\n\n* Present detailed clinical data from the Phase 3 PEAK pivotal trial at the\n2026 ASCO annual meeting and from the APEX pivotal trial in the first half of\n2026\n\n\n* Initiate a Phase 2 trial in the first half of 2026 investigating the benefit\nof the bezuclastinib plus sunitinib combination for first-line GIST patients\nwith exon 9 mutations who are naive to, or recently initiated treatment with,\nimatinib\n\n\n* Pending FDA approval(s), launch bezuclastinib in the second half of 2026\nPipeline\n* Submit Investigational New Drug (IND) applications for CGT1815, Cogent’s\nnovel, selective pan-KRAS(ON) inhibitor and CGT1145, Cogent’s novel,\nselective JAK2 V617F inhibitor\n\n\n* Complete dose escalation for CGT4255, Cogent’s CNS-penetrant, selective\nmutant ErbB2 inhibitor\nBezuclastinib - Expanded Access Program\n\nWorking with the FDA, Cogent has established active Expanded Access Programs\n(EAPs) for U.S. patients with GIST or SM who meet disease-specific criteria\nand could benefit from treatment with bezuclastinib or the combination of\nbezuclastinib and sunitinib. For more information please visit:\nhttps://www.cogentbio.com/bezuclastinib-program-development/#our-expanded-access-policy\n\nUpcoming Investor Conference\n* Jefferies Healthcare Conference on June 3 at 11:05 a.m. ET.\n * A live webcast can be accessed on the Investors & Media page of Cogent’s\nwebsite at investors.cogentbio.com/events. A replay will be available\napproximately two hours after completion of the event and will be archived for\nup to 30 days.\nFirst Quarter 2026 Financial Results\n\nCash and Cash Equivalents: As of March 31, 2026, cash, cash equivalents and\nmarketable securities were $866.4 million, which includes net proceeds of\n$45.7 million from shares recently sold under the Company’s at-the-market\n(ATM) stock offering as well as non-recurring payments totaling $18.0 million\nrelated to annual performance-based bonus compensation and a milestone payment\nto Plexxikon. Based on our current plans, we expect our existing cash, cash\nequivalents and marketable securities will be sufficient to fund our operating\nexpenses and capital expenditure requirements into 2028, including the\ncommercialization of bezuclastinib in SM and GIST.\n\nR&D Expenses: Research and development expenses were $75.4 million for the\nfirst quarter of 2026 compared to $63.0 million for the first quarter of 2025.\nThe increase was driven by increased early-stage, preclinical and discovery\nprograms as we advance our pipeline of programs into Phase 1 clinical trials\nand IND-enabling studies, and includes one-time costs associated with the wind\ndown of the FGFR clinical program. R&D expenses include non-cash stock\ncompensation expense of $8.9 million for the first quarter of 2026 as compared\nto $5.3 million for the first quarter of 2025.\n\nG&A Expenses: General and administrative expenses were $28.2 million for the\nfirst quarter of 2026 compared to $11.9 million for the first quarter of 2025.\nThe increase was primarily due to the growth of the organization and\nactivities related to the anticipated commercial launch of bezuclastinib. G&A\nexpenses include non-cash stock compensation expense of $8.0 million for the\nfirst quarter of 2026 as compared to $4.8 million for the first quarter of\n2025.\n\nNet Loss: Net loss was $97.4 million for the first quarter of 2026 compared\nto a net loss of $72.0 million for the first quarter of 2025.\n\nInducement Grants Under Nasdaq Listing Rule 5635(c)(4)\n\nCogent also announced today that, on April 29, 2026, the Compensation\nCommittee of Cogent’s Board of Directors, made up entirely of independent\ndirectors, approved the grants of “inducement” equity awards to seven new\nemployees under the company’s 2020 Inducement Plan with a grant date of\nApril 29, 2026. The awards were approved in accordance with Listing Rule\n5635(c)(4) of the corporate governance rules of the Nasdaq Stock Market. The\nemployees received, in the aggregate, (i) nonqualified options to purchase\n62,600 shares of Cogent common stock and (ii) 48,600 restricted stock units\n(RSUs). Each option has a 10-year term, an exercise price equal to the closing\nprice of Cogent’s common stock on the grant date, and a 4-year vesting\nschedule with 25% vesting on the 1-year anniversary of the grant date and the\nremainder vesting in equal monthly installments over the subsequent 36 months,\nprovided such employee remains employed through each such vesting date. The\nRSUs vest annually in equal installments over 4 years from the grant date,\nprovided such employee remains employed through each such vesting date.\n\nAbout Cogent Biosciences, Inc.\n\nCogent Biosciences is a biotechnology company focused on developing precision\ntherapies for genetically defined diseases. The most advanced clinical\nprogram, bezuclastinib, is a selective tyrosine kinase inhibitor that is\ndesigned to potently inhibit the KIT D816V mutation as well as other mutations\nin KIT exon 17. KIT D816V is responsible for driving Systemic Mastocytosis, a\nserious disease caused by unchecked proliferation of mast cells. Exon 17\nmutations are also found in patients with advanced Gastrointestinal Stromal\nTumors (GIST), a type of cancer with strong dependence on oncogenic KIT\nsignaling. In addition, the Cogent Research Team is developing a portfolio of\nnovel targeted therapies to help patients fighting serious, genetically driven\ndiseases targeting mutations in ErbB2, PI3Kα, KRAS and JAK2. Cogent\nBiosciences is based in Waltham, MA and Boulder, CO. Visit our website for\nmore information at www.cogentbio.com. Follow Cogent Biosciences on social\nmedia: X\n(https://www.globenewswire.com/Tracker?data=IFO7_t8Nd5aFQWMqdnWJRqVoaDCLsTdlQ6VHu0fF0Wpn_tZP9wutunjQ8i4AMPP_y9-yGPSeDNR2eO56g0mbn0fSUYyKe9PAaIZVgsMkwSEwnRa4eOOy7GqZQ2Iv88ekfQIOyQkX70295liNn7xtUGW4uTSMsCdA6-LZeFAwGTzrGxkVwjSXoBIT20R_qN2PQ6FbRPY00p9f6861fae4u55RKDF8wdB38LLidcl2_6iAs9xVJhuO5KgCnx24NRh51-_N4cnGDrUDLUkVw0pi7xoS9B7MQySgn6E2YKR7f2-RnsPhNmQKF-84WWNsy1gaRu8Qa992cg-HgMl0T-h9BW_iZdVHnBCdnrtnv6hrYNiZ_GNWbKsNwRbxw6aJwn3-Kbpy6oo_GqfQHPIkxcPv-KN2r5u3KtIBhLwMga-KQUDZy31PXFmueag1jVOAEvmdMwFKsa4JkUbCQmsk8dgGuSD6i4mse2Bl-4KZRaq1hs-ZidCy9wCIE4-RDgtX_Rjez_y32vepCQMu7htGgghyoD7tBZzxfO7RJHpjIyApj4YIuMbWPR20W2hTR79UTNFodNIGk6K-_OjbszCdiSfFT4owkt6019AGsJrQzV9rxK1SIUNGquhFzcOWwQBBBFdagDHZ-2F9uKETWCA9ka661kfJIB93l3J-aLfWBZQpf3SgLavJhA_AdYd-QSdbbMnFD_SFiY3ogV1zklC9XPSQRo1NHHsEvKjbjwHG8ldPOOnHDyWUieq-68C8JyHkC-XhqrEhYoxKpgqfck3_T3HIxCph-alGNc76Apu-auzFOvAIrArPC7jMcAPioEFQQv8W3rEPi2ssGrl_hmKSuOzmu-ewVcq1eJhveQoTJM1AQ0eVuStfedc3xBE_O8ziyN6bbcvfnwqF_CjJmOZBc5sm4NAG8Ik2S9tHwKjEcv-tc15LT4pm3hW9OanITBM-vrbMIc4VRwJ5znYaes9xKXpmeOIcPZ4adjr66yl-Ew0k10QJEjSGnn_4gMkTERgi1Dk1XrNOb2oKrYq9U_PHr2-8qA==) (formerly\nknown as Twitter) and LinkedIn\n(https://www.globenewswire.com/Tracker?data=Goxf0JtUjbZFtD23Ou6XbPHbttL5D1_3lQxdmxNIzsADUZCkJ28PEOTVIv34fli5TOqu3vWOha26sVkRX_4BGEAJcFd9WgYqf7vrhew5yhrQhSeXlBllFzsq_JBNWt68HadHlWwAM97QzgqEnBOsU7uTB_tyCRuAhag2VTjvv3tglDV7jzhnvyUHpqifn2_KxO8pRWoNxnt-5M4_BIRHQLJE62rbJdmV8qE8CzAIOfyLQFf4Jd24DCfoRG_UpV-3kXYm94F2GFmSYrdwfOOXYoFg3RCAMNhDCFxC7M0acj_-zcGuN6YIM-Zz4geB8EkyhPvtYjWtHbdltWPCKsHc-atzaHTpnmTCjamreWsd7bAXirfWZ4bWuDbNQtXR9Ug_nMHtNuZ8HLpLraPsuVYSBjyAKO6K73LI_hBd1JkquPtMf95F0qmMpLrWnikc5k0au8Qu8y3njcbRFqIucIW4QyyTgs_PrRV35p3HBfcs2WE=).\nInformation that may be important to investors will be routinely posted on our\nwebsite and X\n(https://www.globenewswire.com/Tracker?data=F__WQUAREH8QAfo_ZMHNMnXlV_hPEEaqUISDLcvbZhyvWuRGMURjOyxkemqSZX4sdPMM5Dn3ltNHdiZPxQohCBPloz_pvKIxO2vtYl3IkXmvVrKFYucNrHKauvraICRwIB3e2m-Zt3Bq2uqUTKHJXesd-VPfHELkdY7GFb2bw5D20YDSEoB5S39h-A6Yf3c7TAG2SipVfC0aVbgA9N7zvjYJJ6ynKQGTLgql2-blisgq44Oqry4uCMIXnMP2H86maU_KjEizZYXmFnFpHw0lViu05UOsT3WgRoIEcI8WHnMA5bVM_5jQL6n6QpSTU2qOBDe7MlTyaQ6e__VzMlHXHjMWxLrVwQn3HEZrmWNlDyG-Dy1NgQiHfsBJVKQlmJ3brmVUNlwMj94Y935kEyPwMI5lOW77n6hybM2P7fHJOGqdZK1BTuXN4qjYqEsD9ibe_v1he8gSpPBsTCfLHNkNSVmJeWUTnGuQIo7C-w2lHIV4X8AAuqN6Acc1rarWP0dfL3U4mWuyzFH4eGO0Y4w5UbN_4WIIeGUJk1Pm3uFVtc6ho_8nAZQKkUbYZ9bgaBVSJiPzT2EeSfI0IVOghUf9iW32lUALO9L1nRrhEmkBecMJurHpFn_coZJD0wYOhWKmDgk6Zu00o6zEi8g7uMOnKpgxM9RZMP2FirW_wCMvtmZhDGPW-YZEy5BCi6qAv4JIW0kG3hi8u9ZbWkNhajZh4DL_0Gsd8aD6_HXNE5t9to89zgWirb8snhQeVNXTzrmHfAzYhaT97bG2bAX9wLePlgp1xkXF6PRa4J6-oes3G3LdTZiDND2XUxiPZ8rLBOITDgSwszVKJ1Xui6KcyO7kx7oeTSk1ggj_8e6gMq_EEzLvBhEINICIExqFapm1gT0TBVQep25ebg4GJUIiTk2x2WQojPT09ol-D0lDRWgq3HzTpZKSiFwYCp0-X3E37Ao7Je6_jRHvljdidZzQGEhOxszWEmlXKbPT0_6n3WZ_mpLXuwquaVrUQDN6lKnTCSAVAuBKcKbzfxq6O-toNoj30g==).\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995, including, but not\nlimited to, statements regarding: the anticipated commercial launches of\nbezuclastinib in SM and GIST starting in the second half of 2026; the\nanticipated cash runway into 2028; the expectation to submit an NDA for\nbezuclastinib in patients with AdvSM in the first half of 2026; anticipated\npresentations of clinical data from PEAK and APEX; plans to initiate a Phase 2\ntrial investigating the benefit of the bezuclastinib plus sunitinib\ncombination for first-line GIST patients with exon 9 mutations who are naive\nto, or recently initiated treatment with, imatinib; plans to submit INDs for\nCGT1815, the company’s novel, selective pan-KRAS(ON) inhibitor, and CGT1145,\nthe company’s novel, selective JAK2 V617F inhibitor; and plans to complete\ndose escalation studies for CGT4255, Cogent’s CNS-penetrant, selective\nmutant ErbB2 inhibitor. The use of words such as, but not limited to,\n\"anticipate,\" \"believe,\" \"continue,\" \"could,\" \"estimate,\" \"expect,\" \"intend,\"\n\"may,\" \"might,\" \"plan,\" \"potential,\" \"predict,\" \"project,\" \"should,\" \"target,\"\n\"will,\" or \"would\" and similar words expressions are intended to identify\nforward-looking statements. Forward-looking statements are neither historical\nfacts nor assurances of future performance. Instead, they are based on our\ncurrent beliefs, expectations and assumptions regarding the future of our\nbusiness, future plans and strategies, our clinical results, the rate of\nenrollment in our clinical trials and other future conditions. New risks and\nuncertainties may emerge from time to time, and it is not possible to predict\nall risks and uncertainties. No representations or warranties (expressed or\nimplied) are made about the accuracy of any such forward-looking statements.\nWe may not actually achieve the forecasts or milestones disclosed in our\nforward-looking statements, and you should not place undue reliance on our\nforward-looking statements. Such forward-looking statements are subject to a\nnumber of material risks and uncertainties including but not limited to those\nset forth under the caption \"Risk Factors\" in Cogent's most recent Annual\nReport on Form 10-K filed with the SEC, as well as discussions of potential\nrisks, uncertainties, and other important factors in our subsequent filings\nwith the SEC. Any forward-looking statement speaks only as of the date on\nwhich it was made. Neither we, nor our affiliates, advisors or\nrepresentatives, undertake any obligation to publicly update or revise any\nforward-looking statement, whether as result of new information, future events\nor otherwise, except as required by law. These forward-looking statements\nshould not be relied upon as representing our views as of any date subsequent\nto the date hereof.\n\n\n\n COGENT BIOSCIENCES, INC.                                                                    \n CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS                                             \n (in thousands) (unaudited)                                                                  \n                                                                                             \n                              Three Months Ended March 31,                                   \n                              2026                                    2025                   \n Operating expenses:                                                                         \n Research and development     $         75,365                        $         63,029       \n General and administrative             28,242                                  11,904       \n Total operating expenses               103,607                                 74,933       \n Loss from operations                   (103,607  )                             (74,933   )  \n Other income:                                                                               \n Interest income                        7,608                                   2,952        \n Interest expense                       (1,213    )                             —            \n Other income (expense), net            (140      )                             (5        )  \n Total other income, net                6,255                                   2,947        \n Net loss                     $         (97,352   )                   $         (71,986   )  \n\n\n\n COGENT BIOSCIENCES, INC.                                                                    \n SELECTED CONDENSED CONSOLIDATED BALANCE SHEET DATA                                          \n (in thousands) (unaudited)                                                                  \n                                                                                             \n                                                     March 31,           December 31,        \n                                                     2026                2025                \n Cash, cash equivalents and marketable securities    $      866,378      $        900,765    \n Working capital                                     $      819,822      $        846,402    \n Total assets                                        $      903,006      $        937,607    \n Total liabilities                                   $      295,313      $        301,236    \n Total stockholders’ equity                          $      607,693      $        636,371    \n\n\n\nContact:\nChristi Waarich\nSenior Director, Investor Relations\nchristi.waarich@cogentbio.com\n617-830-1653\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2b8cbfab-a4de-4e17-bdd6-7ef597a95d2e)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-05T12:00:02.272473702Z","server_sent_at_ms":1777982402272},"received_at":"2026-05-05T12:00:02.325Z","source_url":"https://www.globenewswire.com/news-release/2026/05/05/3287594/0/en/cogent-biosciences-reports-recent-business-highlights-and-first-quarter-2026-financial-results.html"},"analysis":{"id":"15462","press_release_id":"20905","analysis_json":{"industry":{"label":"Pharmaceuticals, Biotechnology & Life Sciences","sector":"Health Care"},"redFlags":["Net loss widened to $97.4 million in Q1 2026 from $72.0 million in Q1 2025","General and administrative expenses increased to $28.2 million from $11.9 million year-over-year due to commercial build-out"],"eventType":"earnings","narrative":"Cogent Biosciences ended the first quarter of 2026 with $866.4 million in cash, which the company states is sufficient to fund operations into 2028 and support the commercialization of bezuclastinib.\n\nThe company announced that the FDA accepted its NDA for bezuclastinib in Non-Advanced Systemic Mastocytosis with a PDUFA target action date of December 30, 2026, and submitted a second NDA for GIST under the Real-Time Oncology Review program.\n\nPivotal data from the Phase 3 PEAK trial in GIST will be presented at the ASCO annual meeting on May 30, as Cogent prepares for potential dual launches in the second half of the year.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Cash runway secured into 2028 supports dual bezuclastinib launches following NDA submissions."},"keyFigures":{"guidance":"sufficient to fund operations into 2028","customDimensions":{"net_loss":"$97.4 million","pdufa_date":"December 30, 2026","ga_expenses":"$28.2 million","rd_expenses":"$75.4 million","atm_proceeds":"$45.7 million","cash_position":"$866.4 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However, the company remains pre-revenue with widening net losses."},"tickerRelevance":{"others":[],"primary":"COGT"},"globalImportance":40,"audienceRelevance":35,"eventTypeSecondary":["clinical_trial","guidance_update"],"importanceComponents":{"tickerTier":"mid-cap-biotech","eventGravity":"regulatory_milestones_and_cash_runway","sectorWeight":"biotech","cashRunwayPositive":true}},"event_type":"earnings","event_type_secondary":["clinical_trial","guidance_update"],"sentiment":"bullish","material_impact_score":3,"narrative":"Cogent Biosciences ended the first quarter of 2026 with $866.4 million in cash, which the company states is sufficient to fund operations into 2028 and support the commercialization of bezuclastinib.\n\nThe company announced that the FDA accepted its NDA for bezuclastinib in Non-Advanced Systemic Mastocytosis with a PDUFA target action date of December 30, 2026, and submitted a second NDA for GIST under the Real-Time Oncology Review program.\n\nPivotal data from the Phase 3 PEAK trial in GIST will be presented at the ASCO annual meeting on May 30, as Cogent prepares for potential dual launches in the second half of the year.","key_figures":{"guidance":"sufficient to fund operations into 2028","customDimensions":{"net_loss":"$97.4 million","pdufa_date":"December 30, 2026","ga_expenses":"$28.2 million","rd_expenses":"$75.4 million","atm_proceeds":"$45.7 million","cash_position":"$866.4 million"}},"named_entities":{"people":[{"name":"Andrew Robbins","role":"President and Chief Executive Officer"}],"products":["bezuclastinib","CGT4255","CGT6297","CGT1815","CGT1145"],"companies":[{"name":"Plexxikon","relationship":"licensor / milestone recipient"},{"name":"Jefferies","relationship":"conference host"}],"dollarAmounts":[{"amount":"$866.4 million","context":"cash, cash equivalents and marketable securities as of March 31, 2026"},{"amount":"$45.7 million","context":"net proceeds from at-the-market stock offering"},{"amount":"$18.0 million","context":"payments related to annual performance-based bonus compensation and a milestone payment"},{"amount":"$75.4 million","context":"Research and development expenses for the first quarter of 2026"},{"amount":"$28.2 million","context":"General and administrative expenses for the first quarter of 2026"},{"amount":"$97.4 million","context":"Net loss for the first quarter of 2026"}]},"model_name":"glm-4.7","prompt_hash":"sha256:a2703c5a1b5285fe","schema_hash":"sha256:1f8af1196c7db48c","created_at":"2026-05-05T13:31:33.533Z","global_importance":40,"audience_relevance":35,"importance_components":{"tickerTier":"mid-cap-biotech","eventGravity":"regulatory_milestones_and_cash_runway","sectorWeight":"biotech","cashRunwayPositive":true}},"durationMs":109509,"modelName":"glm-4.7"}}