Cogent Biosciences Q1 net loss widens on higher expenses

Cogent Biosciences

05/05/2026 13:07

Overview

U.S. biotech firm's Q1 net loss widened yr/yr on higher R&D and G&A expenses

Company ended Q1 with $866.4 mln in cash, expects runway into 2028

Cogent preparing for dual launches of bezuclastinib in SM and GIST, pending FDA approvals

Outlook

Company expects to launch bezuclastinib for SM and GIST in second half of 2026, pending FDA approval

Cogent expects to submit NDA for bezuclastinib in Advanced Systemic Mastocytosis in first half of 2026

Company says existing cash expected to fund operations and commercialization into 2028

Result Drivers

R&D SPENDING - Higher R&D expenses driven by increased early-stage, preclinical and discovery programs, and one-time costs from winding down the FGFR clinical program

COMMERCIAL PREPARATION - G&A expenses rose mainly due to organizational growth and activities related to anticipated commercial launch of bezuclastinib

Company press release: ID:nGNXbvHRz8

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$97.35 mln
Q1 Income from Operations
-$103.61 mln
Q1 Operating Expenses
$103.61 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Cogent Biosciences Inc is $55.00, about 49.7% above its May 4 closing price of $36.73

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)