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COGT · Cogent Biosciences, Inc.

Company guidance, FDA catalysts, dilution risk and cash runway, built from SEC, FDA and ClinicalTrials.gov filings and updated every day.

$792.3M Cash on Hand

29mo Cash Runway

10.5% Short Interest

$55.82 Analyst Target (11)

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📣 What COGT Says Is Next

late 2028 · Bezuclastinib: “T he company expects its existing cash, cash equivalents and marketable securities, with the $73.6 million gross proceeds from shares sold through the Company’s at-the-market (ATM) facility after the end of the quarter, will be sufficient to fund its operating expenses and capital expenditure requirements into late 2028, including through potential FDA approvals of bezuclastinib for GIST, NonAdvSM and AdvSM and early commercial launch activities.”
Company press release, Aug 10, 2026 · SEC filing
by end of 2026 · “Announced completion of enrollment in the “avapritinib switch” SUMMIT extension trial with preliminary results expected by end of 2026.”
Company press release, Aug 10, 2026 · SEC filing
in 2026 · “Both of these programs are on track for IND in 2026.”
Company press release, Nov 3, 2025 · SEC filing

Quoted word for word from the company's press releases filed with the SEC. Timing is the company's own guidance, not a BioRadar estimate.

🧪 Trial & FDA Catalysts

Mar 2027 · Phase 1/2 · Active Trial · A Study of an FGFR2/3 Inhibitor (CGT4859) in Patients With Cholangiocarcinoma and Other Ad
Registry primary completion date, not a results date
May 2028 · Phase 1 · Recruiting · A Study of a Selective ERBB2 Inhibitor (CGT4255), in Patients With Advanced Solid Tumors
Registry primary completion date, not a results date
Jul 2029 · Phase 1 · Recruiting · A Study of Mutant Selective-Inhibitor (CGT6297), in Patients With Advanced Solid Tumors
Registry primary completion date, not a results date
Sep 2025 · Phase 3 · Recruiting · (Peak) A Phase 3 Randomized Trial of CGT9486+Sunitinib vs. Sunitinib in Subjects With Gast
Registry date passed, readout not confirmed
Sep 2025 · Phase 2 · Recruiting · (Apex) Bezuclastinib in Patients With Advanced Systemic Mastocytosis
Registry date passed, readout not confirmed
May 2025 · Phase 2 · Active Trial · (Summit) A Study to Evaluate the Efficacy and Safety of CGT9486 Versus Placebo in Patients
Registry date passed, readout not confirmed

📊 Drug Pipeline

Drug	Indication	Most advanced trial	Status
Sunitinib	Advanced Gastrointestinal Stromal Tumors	Phase 3 · NCT05208047	Recruiting
Bezuclastinib (CGT9486)	Advanced Gastrointestinal Stromal Tumors	Phase 3 · NCT05208047	Recruiting
FGFR2/3 Inhibitor CGT4859	Intrahepatic Cholangiocarcinoma (Icc)	Phase 1/2 · NCT06777316	Active not recruiting
Pexidartinib	Gastrointestinal Stromal Tumors	Phase 1/2 · NCT02401815	Completed
ACTR T Cell Product	Solid Tumor	Phase 1 · NCT03680560	Terminated
Anti-BCMA Antibody SEA-BCMA	Multiple Myeloma	Phase 1 · NCT03266692	Terminated
PI3Ka H1047R Mutant Selective Inhibitor	PIK3CA Mutations	Phase 1 · NCT07383506	Recruiting
HER2 Mutant-selective Inhibitor CGT4255	Advanced Solid Tumor, Adult	Phase 1 · NCT07361562	Recruiting
Autologous ACTR-CD16-CD28-expressing T-l	Lymphoma	Phase 1 · NCT03189836	Terminated
Anti-ACTR/4-1BB/CD3zeta-Viral Vector-tra	Lymphoma	Phase 1 · NCT02776813	Completed

Also used in these trials (approved or third-party drugs, not COGT's own candidates): Midazolam Hydrochloride, Trastuzumab, Rituximab.

Source: ClinicalTrials.gov trials sponsored by the company, one row per candidate at its most advanced registered trial. FDA approvals: Drugs@FDA. Wrong or missing drug? Report it

💰 Cash Runway & Dilution Risk

COGT holds $792.3M in cash and short-term investments (as of Jun 30, 2026) and burns about $82.1M/quarter from operations, an estimated runway of 29 months at that rate (BioRadar estimate, not company guidance).

Dilution pressure: 22 · Moderate

Cash runway 29 months
ATM program on file since Aug 2026 +15
Shelf registration (S-3ASR, Nov 2025) +10
Company says cash lasts into late 2028 -10We believe that our cash, cash equivalents and marketable securities, with the $71.4 million net proceeds from shares sold under our ATM after the end of the quarter, will be sufficient to fund our operating expenses and capital expenditure requirements into late 2028, including through potential FDA approval of bezucl 10-Q, Aug 2026
Share count +24% in a year +7

Recent financing filings on SEC EDGAR:

Aug 10, 2026 · ATM program, up to $400M · 424B5
Nov 12, 2025 · Convertible notes offering · 424B5
Nov 12, 2025 · Convertible notes offering · 424B5
Nov 12, 2025 · Convertible notes offering · 424B5
Nov 12, 2025 · Convertible notes offering, $300M · 424B5
Nov 7, 2025 · Shelf registration with ATM program, up to $300M · S-3ASR

Source: SEC EDGAR (XBRL cash flow and financing filings). Dilution Watch: every company ranked → · Get an alert when COGT files for a raise →

👥 Who Owns COGT

Insiders 4% Institutions (438 holders) 96% Public and other holders 0%

Holder	Type	Shares	% of shares	As of
FMR, LLC	Institution (13F)	25,681,174	14.80%	2026-06-30
BlackRock, Inc.	Institution (13G, 5%+)	13,593,063	7.83%	2026-06-30
Vanguard Capital Management	Institution (13G, 5%+)	8,691,589	5.01%	2026-06-30
Vanguard Portfolio Management LLC	Institution (13F)	8,072,411	4.65%	2026-06-30
State Street Corporation	Institution (13F)	6,964,919	4.01%	2026-06-30
Jupiter Topco LLC	Institution (13F)	6,624,848	3.82%	2026-06-30
Fairmount Funds Management LLC Director · +39,414 options	Insider	5,503,418	3.17%	2026-03-31
Deerfield Management Company, L.P	Institution (13F)	5,006,104	2.88%	2026-06-30
TCG Crossover Management, LLC	Institution (13F)	4,854,436	2.80%	2026-06-30
Price (T.Rowe) Associates Inc	Institution (13F)	4,652,727	2.68%	2026-06-30
Andrew R Robbins President and CEO, Director · +2.26M options	Insider	657,503	0.38%	2026-05-19
Cole Pinnow Chief Commercial Officer · +830,000 options	Insider	216,650	0.12%	2025-12-17

Share count 173,524,982 (latest 10-Q/10-K). Insiders: each officer's, director's and 10% owner's latest Form 3, 4 or 5, direct and indirect shares; options are not counted. 5%+ holders: latest Schedule 13D or 13G of each holder above 5%. Institutions: the total held by all 13F filers (Yahoo Finance); the table lists the largest (13F quarter ending 2026-06-30). Sources have different dates, so the split is approximate. Source: SEC EDGAR.

📈 Recent Insider Activity (Form 4)

Trade date	Insider	Transaction	Shares	Price	Owned after
2026-08-27 filed 2026-08-31	Morris Arlene	Option exercise (M)	41,927	–	–
2026-08-27 filed 2026-08-31	Morris Arlene	Option exercise (M)	3,583	–	–
2026-08-27 filed 2026-08-31	Morris Arlene	Option exercise (M)	41,927	$5.64	41,927
2026-08-27 filed 2026-08-31	Morris Arlene	Option exercise (M)	3,583	$2.52	45,510
2026-08-27 filed 2026-08-31	Morris Arlene	Sale (S)	3,161	$37.54	0

Only open-market purchases (P) and sales (S) are trading decisions. Awards (A), option exercises (M) and tax withholding (F) are compensation mechanics. Source: SEC Form 4.

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Data: SEC EDGAR, FDA, ClinicalTrials.gov, Yahoo Finance • Informational purposes only, not investment advice. • All tracked stocks A–Z