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Dec 31, 2020
Cogent Biosciences Q4 2020 Earnings Report
Cogent Biosciences reported financial results for Q4 2020 and provided corporate updates.
Key Takeaways
Cogent Biosciences reported a net loss of $11.3 million for the fourth quarter of 2020 and ended the quarter with $242.2 million in cash and cash equivalents.
CGT9486 clinical trial initiations are on track for Advanced Systemic Mastocytosis (1H21), Non-Advanced Systemic Mastocytosis (2H21), and Gastrointestinal Stromal Tumors (GIST) (2H21).
Final data from CGT9486 + sunitinib Phase 1/2 study demonstrated 12 months median PFS and 20% ORR in heavily pre-treated advanced GIST patients.
A randomized GIST clinical trial initiation is expected in 2H21.
The company ended Q4 2020 with $242.2 million in cash, funding operations into 2024.
Cogent Biosciences
Cogent Biosciences
Forward Guidance
Cogent Biosciences believes its cash and cash equivalents will be sufficient to fund operating expenses and capital expenditure requirements into 2024.