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Jun 30, 2022
Cogent Biosciences Q2 2022 Earnings Report
Reported financial results for the second quarter ended June 30, 2022.
Key Takeaways
Cogent Biosciences reported positive initial clinical data from its APEX trial and secured additional financing to support its strategy into 2025. Cash and cash equivalents were $325.6 million as of June 30, 2022.
Reported positive initial data from its ongoing Phase 2 APEX clinical trial evaluating bezuclastinib in patients with advanced systemic mastocytosis (AdvSM).
Demonstrated rapid reductions in serum tryptase, with all patients achieving a ≥50% reduction.
Announced plans to advance a potent, selective FGFR2 inhibitor toward candidate selection.
Appointed Fang Fang, Ph.D., Vice President, Biometrics in Development Operations.
Cogent Biosciences
Cogent Biosciences
Forward Guidance
The company plans to present additional data from APEX by the end of 2022, initial data from SUMMIT and lead-in data from PEAK in the first half of 2023, and file an IND for a selective FGFR2 inhibitor in the second half of 2023.
Positive Outlook
- Plans to present additional data from APEX by the end of 2022.
- Plans to present initial data from SUMMIT in the first half of 2023.
- Plans to present lead-in data from PEAK in the first half of 2023.
- Company anticipates cash runway into 2025.
- Plans to file an IND for a selective FGFR2 inhibitor in the second half of 2023.
Challenges Ahead
- Statements are forward-looking and subject to risks and uncertainties.
- May not achieve the forecasts or milestones disclosed in forward-looking statements.
- New risks and uncertainties may emerge from time to time.
- The rate of enrollment in clinical trials is a risk factor.
- Clinical results are subject to risks and uncertainties.