Cogent Biosciences, Inc., a clinical-stage biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor in Phase 3 trial designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors. The company also develops CGT4859, a reversible and selective fibroblast growth factor receptor 2 inhibitor in Phase 1 trial for patients with documented FGFR mutations, including advanced cholangiocarcinoma; CGT4255, a novel ErbB2 mutant program, which is focused on actionable and underserved mutations in a solid tumor systemic and CNS involved indications; and CGT6297, a Novel PI3Ka mutant-selective inhibitor. It has a licensing agreement with Plexxikon Inc. for the research, development, and commercialization of bezuclastinib. Cogent Biosciences, Inc. is headquartered in Waltham, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-321M | $-329M | $-266M | -60.1% | - | 28.6% |
| 2024 | $0M | $-252M | $-256M | $-208M | -175.6% | - | 33.0% |
| 2023 | $0M | $-189M | $-192M | $-156M | -97.3% | - | 37.2% |
| 2022 | $0M | $-142M | $-140M | $-126M | -73.8% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0 | 0 | 0 | 0 |
| Operating Revenue | - | 0 | 0 | 0 | 0 |
| Operating Expense | - | 147.84 | 208.13 | 275.94 | 333.36 |
| Research And Development | - | 121.63 | 173.76 | 232.66 | 269.78 |
| Selling General And Administration | - | 26.21 | 34.38 | 43.28 | 63.58 |
| Total Expenses | - | 147.84 | 208.13 | 275.94 | 333.36 |
| Operating Income | - | -147.84 | -208.13 | -275.94 | -333.36 |
| Total Operating Income As Reported | - | -147.84 | -208.13 | -275.94 | -333.36 |
| EBITDA | - | -141.96 | -188.82 | -251.51 | -321.29 |
| Normalized EBITDA | - | -141.96 | -188.82 | -251.51 | -314.11 |
| EBIT | - | -147.84 | -192.41 | -255.86 | -325.88 |
| Interest Income | - | 3.99 | 13.08 | 18.09 | 14.69 |
| Interest Expense | - | - | 0 | 0 | 3.06 |
| Net Interest Income | - | 3.99 | 13.08 | 18.09 | 11.63 |
| Other Non Operating Income Expenses | - | 3.61 | 2.64 | 1.99 | -0.02 |
| Other Income Expense | - | 3.61 | 2.64 | 1.99 | -7.20 |
| Interest Income Non Operating | - | 3.99 | 13.08 | 18.09 | 14.69 |
| Interest Expense Non Operating | - | - | 0 | 0 | 3.06 |
| Net Non Operating Interest Income Expense | - | 3.99 | 13.08 | 18.09 | 11.63 |
| Pretax Income | - | -140.24 | -192.41 | -255.86 | -328.94 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -140.24 | -192.41 | -255.86 | -328.94 |
| Net Income From Continuing And Discontinued Operation | - | -140.24 | -192.41 | -255.86 | -328.94 |
| Net Income From Continuing Operation Net Minority Interest | - | -140.24 | -192.41 | -255.86 | -328.94 |
| Net Income | - | -140.24 | -192.41 | -255.86 | -328.94 |
| Net Income Common Stockholders | - | -140.24 | -192.41 | -255.86 | -328.94 |
| Net Income Including Noncontrolling Interests | - | -140.24 | -192.41 | -255.86 | -328.94 |
| Normalized Income | - | -140.24 | -192.41 | -255.86 | -321.76 |
| Diluted NI Availto Com Stockholders | - | -140.24 | -192.41 | -255.86 | -328.94 |
| Basic Average Shares | 43.81 | 58.74 | 79.66 | 110.46 | - |
| Diluted Average Shares | 43.81 | 58.74 | 79.66 | 110.46 | - |
| Reconciled Depreciation | - | 5.88 | 3.59 | 4.35 | 4.58 |
| Total Unusual Items | 0 | - | 0 | 0 | -7.18 |
| Total Unusual Items Excluding Goodwill | 0 | - | 0 | 0 | -7.18 |
| Special Income Charges | 0 | - | 0 | 0 | -7.18 |
| Other Special Charges | - | - | - | - | 7.18 |
| General And Administrative Expense | - | 26.21 | 34.38 | 43.28 | 63.58 |
| Other Gand A | - | 26.21 | 34.38 | 43.28 | 63.58 |
| Gain On Sale Of Ppe | 0 | - | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cogent Biosciences, Inc.this co. | COGT | $5.6B | -17.03 | 10.24 | -60.1% | -17.21 |
| Terns Pharmaceuticals, Inc. | TERN | $6.1B | -63.58 | 6.08 | -9.6% | -51.02 |
| Rhythm Pharmaceuticals, Inc. | RYTM | $6.0B | - | 22.25 | -74.8% | - |
| PACS Group, Inc. | PACS | $5.9B | 30.96 | 6.26 | 20.2% | 24.98 |
| Mirum Pharmaceuticals, Inc. | MIRM | $5.6B |
| - |
| - |
| - |
| - |
| -241.41 |
| 17.92 |
| -7.4% |
| 329.12 |
| Liquidia Corporation | LQDA | $5.6B | -80.69 | 124.29 | -154.0% | -128.84 |
| CRISPR Therapeutics AG | CRSP | $5.5B | - | 2.86 | -30.3% | - |
| Scholar Rock Holding Corporation | SRRK | $5.4B | - | 22.13 | -154.0% | - |
| Xenon Pharmaceuticals Inc. | XENE | $5.1B | -14.81 | 8.80 | -59.5% | -13.31 |
| Peer Median | - | -63.58 | 13.36 | -44.9% | -13.31 | |