Cogent Biosciences completes upsized $230 million public offering

Cogent Biosciences Inc. (NASDAQ: COGT) completed its public offering of 25,555,556 shares of common stock at $9.00 per share, generating approximately $230 million in gross proceeds before expenses, according to a company statement.

The biotechnology company sold all shares in the offering, which included 3,333,333 shares from the full exercise of underwriters' option to purchase additional shares. The offering was upsized from its original size, though the initial number of shares was not disclosed.

Cogent plans to use the net proceeds for continued development and regulatory activities for bezuclastinib and other product candidates, commercial preparation activities, and general corporate purposes. The company is focused on developing precision therapies for genetically defined diseases.

J.P. Morgan, Leerink Partners and Guggenheim Securities served as joint book-running managers for the offering, while LifeSci Capital acted as lead manager.

The shares were offered under an automatic shelf registration statement on Form S-3ASR filed with the Securities and Exchange Commission on February 10, 2023. A final prospectus supplement was filed with the SEC on July 9, 2025.

Cogent's lead clinical program, bezuclastinib, is a selective tyrosine kinase inhibitor designed to target the KIT D816V mutation and other mutations in KIT exon 17. The company is also conducting a Phase 1 study of its FGFR2 inhibitor and developing targeted therapies for mutations in ErbB2, PI3Kα and KRAS.

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