COGT Stock — Cogent Biosciences Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biotechnology company focused on developing precision therapies for genetically defined diseases. Our approach is to design rational precision therapies that treat the underlying cause of disease and improve the lives of patients. Our most advanced program is bezuclastinib, also known as CGT9486, a highly selective tyrosine kinase inhibitor that is designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17.

Source: 10-K FY2025 via SEC EDGAR

Share price

$31.64

Market cap

$5,491.2M

Cash

$791.1M

Enterprise value

$4,923.8M

Balance sheet

Cash	$791.1M
Debt	$223.7M
Net cash	$567.4M
Enterprise value	$4,923.8M
Basic shares	174.0M shares
Fully diluted shares	225.2M shares
Fully diluted market cap	$7,123.9M
Cash per share	$4.55
Quarterly burn	$77.3M
Cash runway	10.3 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

173.5M

Pre-funded warrants

0.0M

Options

27.4M

RSUs

4.5M

Warrants

0.0M

Converts

5.1M

Conv preferred

14.4M

ESPP reserve

0.3M

FDSO

225.2M

Cap table as of 2026-06-30.

Price history

Loading COGT daily closes…

Loading price history…

Next catalyst

bezuclastinib · Nov 30, 2026 · guided in 23d

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDNov 30, 2026 in 23d	bezuclastinib Potential FDA approval in GIST (PDUFA)	Not disclosed	GIST (PDUFA)	November 30, 2026
GUIDEDDec 1-31 in 24d	bezuclastinib SUMMIT extension trial ('avapritinib switch') preliminary results	Not disclosed	SUMMIT extension trial ('avapritinib switch')	end of 2026
GUIDEDDec 30, 2026 in 8 wks	bezuclastinib Potential FDA approval in NonAdvSM (PDUFA)	Not disclosed	NonAdvSM (PDUFA)	December 30, 2026
Apr 12 - May 24 in 5 mo	CGT4859	Phase 2	Intrahepatic Cholangiocarcinoma (Icc); Cholangiocarcinoma; Other Solid Tumors, Adult	—
Jun 12 - Jul 24 in 19 mo	CGT4255	Phase 1	Advanced Solid Tumor, Adult; ERBB2 Altered Breast Cancer; ERBB2 Gene Amplification	—
Aug 12 - Sep 23 in 34 mo	CGT6297	Phase 1	PIK3CA Mutations; Advanced Solid Tumors, Adult; Endometrial Cancer	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Bezuclastinib

Phase 3 · Active Modality: highly selective tyrosine kinase inhibitor

Aliases CGT9486

Target KIT (KIT D816V)

Partnerships Plexxikon (Daiichi Sankyo group; exclusive worldwide license)

Indications

systemic mastocytosis (NonAdvSM, AdvSM) (Phase 3)
gastrointestinal stromal tumor (GIST, with sunitinib) (Phase 3)

Catalysts

— December 30, 2026

Status note NDAs submitted for NonAdvSM (accepted March 2026) and AdvSM (June 2026); Phase 3 PEAK trial in GIST ongoing; no discontinuation disclosed.

CGT4255

Phase 1 · Active Modality: CNS-penetrant selective mutant ErbB2 inhibitor

Target ErbB2 (mutant)

Indications

Advanced Solid Tumor, Adult (Phase 1)
ERBB2 Altered Breast Cancer (Phase 1)
ERBB2 Gene Amplification (Phase 1)

Status note Ongoing Phase 1 dose-escalation study; no discontinuation disclosed.

CGT6297

Phase 1 · Active Modality: wild-type-sparing PI3Ka inhibitor

Target PI3Ka

Indications

PIK3CA Mutations (Phase 1)
Advanced Solid Tumors, Adult (Phase 1)
Endometrial Cancer (Phase 1)

Status note Ongoing Phase 1 dose-escalation study; no discontinuation disclosed.

KRAS inhibitor

Preclinical · Active

Target KRAS

Indications

colorectal cancer (Preclinical)
non-small cell lung cancer (Preclinical)
pancreatic cancer (Preclinical)

Catalysts

— 2026

Status note Program unnamed in filing; research-stage selective KRAS inhibitor.

JAK2 V617F inhibitor

Preclinical · Active

Target JAK2 V617F

Indications

myeloproliferative neoplasms (Preclinical)

Catalysts

— 2026

Status note Program unnamed in filing; wild-type-sparing JAK2 V617F mutant-selective inhibitor.

Per-asset detail extracted from the 10-Q filed 2026-08-10. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	CGT9486
Lead indication	Advanced Gastrointestinal Stromal Tumors
Lead phase	Phase 3
Active trials	6
Collaborator trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05208047	Phase 3	Recruiting	Sponsor	COGT	—	Advanced Gastrointestinal Stromal Tumors; Metastatic Cancer	—
NCT06777316	Phase 2	Active, not recruiting	Sponsor	COGT	—	Intrahepatic Cholangiocarcinoma (Icc); Cholangiocarcinoma; Other Solid Tumors, Adult	—
NCT05186753	Phase 2	Active, not recruiting	Sponsor	COGT	—	SSM; Mastocytosis, Indolent; Mastocytosis, Systemic	—
NCT04996875	Phase 2	Recruiting	Sponsor	COGT	—	Advanced Systemic Mastocytosis (AdvSM); SM With an Associated Hematologic Neoplasm (SM-AHN); Mast Cell Leukemia (MCL)	end of 2026
NCT07361562	Phase 1	Recruiting	Sponsor	COGT	—	Advanced Solid Tumor, Adult; ERBB2 Altered Breast Cancer; ERBB2 Gene Amplification	—
NCT07383506	Phase 1	Recruiting	Sponsor	COGT	—	PIK3CA Mutations; Advanced Solid Tumors, Adult; Endometrial Cancer	—
NCT06208748	Phase 2	Active, not recruiting	Collaborator	Sarcoma Alliance for Research through Collaboration	—	Gastrointestinal Stromal Tumors; GIST	end of 2026

Sponsor-matched active trials from ClinicalTrials.gov (6 as sponsor, 1 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 7 active trials for Cogent Biosciences, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Deerfield Management	5,006,104	-4,037,799	2.02%	2026-08-14
OrbiMed Advisors	2,681,300	+1,359,200	1.26%	2026-08-14
RTW Investments	2,309,021	-3,149,654	0.76%	2026-08-14
Logos Global Management	900,000	+900,000	1.50%	2026-08-14
Sphera Biotech	459,340	+43,000	2.54%	2026-08-14
Ikarian Capital	370,084	+370,084	2.34%	2026-08-14
Boxer Capital	225,000	no change	0.66%	2026-08-14
Perceptive Advisors	121,082	no change	0.07%	2026-08-14
Cormorant Asset Management	100,000	-100,000	0.20%	2026-08-14
ADAR1 Capital Management	12,200	+12,200	0.02%	2026-08-14
Vivo Capital	0	-422,300	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

Loading headlines…

Headlines from the Fully Diluted live wire: IR newsrooms, newswires, SEC filings, and halt notices, refreshed every 15 minutes.

COGT — Cogent Biosciences Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

COGT — Cogent Biosciences Inc.