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Sep 30, 2024
Cogent Biosciences Q3 2024 Earnings Report
Reported third quarter financial results and recent business highlights.
Key Takeaways
Cogent Biosciences reported its Q3 2024 financial results, highlighting the completion of enrollment in the Phase 3 PEAK trial, acceleration of enrollment in the SUMMIT trial, and initiation of a Phase 1 trial for the FGFR2 inhibitor, CGT-4859. The company's cash position is strong at $346 million, expected to fund operations into late 2026.
Completed enrollment in PEAK, a Phase 3 trial for GIST patients.
Accelerated enrollment in SUMMIT, a registration-directed trial for NonAdvSM.
Initiated a Phase 1 trial of CGT-4859, a FGFR2 inhibitor.
Cash position of $346 million is expected to fund operations into late 2026.
Cogent Biosciences
Cogent Biosciences
Forward Guidance
Cogent Biosciences anticipates several milestones including completing enrollment in SUMMIT Part 2 in Q1 2025, delivering top-line results from APEX in mid-2025, and delivering top-line results from PEAK by the end of 2025.
Positive Outlook
- Complete enrollment in SUMMIT Part 2 in the first quarter of 2025.
- Deliver top-line results from SUMMIT in the second half of 2025.
- Deliver top-line results from APEX in mid-2025.
- Deliver top-line results from PEAK by the end of 2025.
- Company anticipates cash runway into late 2026.