NASDAQ$COGT
Cogent Biosciences Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Cogent Biosciences reported business highlights and financial results.
Cogent Biosciences reported meaningful progress in developing bezuclastinib, with clinical data presentations planned for upcoming meetings and a cash runway into 2026.
- SUMMIT and APEX clinical presentations are planned for the 2023 ASH Annual Meeting, with SUMMIT NonAdvSM data selected for oral presentation.
- SUMMIT Part 1 completed upsized enrollment during Q3, and SUMMIT Part 2 is expected to begin in 1H 2024 at over 50 sites globally.
- Updated PEAK lead-in data presented at the 2023 CTOS Annual Meeting showed a 33% ORR and >14 months median duration of treatment for 2nd-line GIST patients.
- Ended Q3 2023 with $312.8 million in cash, providing a cash runway into 2026.
Headline financials
Revenue & EPS history
Cogent Biosciences · Revenue · Quarterly
$0
Forward guidance
Cogent Biosciences anticipates presenting clinical data from SUMMIT and APEX trials at upcoming conferences, completing enrollment in PEAK and APEX Part 2 by the end of 2024, and initiating a clinical trial for the FGFR2 program in 2024.
Tailwinds
- SUMMIT Part 2 is on track for initiation in 1H 2024, ahead of schedule.
- Phase 3 portion of the PEAK study remains on track to complete enrollment by the end of 2024, with over 100 active sites globally.
- APEX Part 2 is on track to complete enrollment by the end of 2024.
- Cogent anticipates filing an Investigational New Drug (IND) Application and beginning a clinical trial in 2024.
- Company believes that its cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses and capital expenditure requirements into 2026.
Headwinds
- The company's expectations are subject to material risks and uncertainties.
- The company may not actually achieve the forecasts or milestones disclosed in its forward-looking statements.
- New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties.
- The company's clinical results may vary.
- The rate of enrollment in the company's clinical trials may be slower than expected.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.9%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+4.5%
Avg return
30 days after
65%
20 / 31 earnings
Positive
+17.8%
Q3 2018
Best reaction
-24.0%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | -5.3% | -10.6% | |
| Q3 2025 | -4.4% | -9.1% | +140.2% | |
| Q2 2025 | -5.8% | -9.0% | +7.4% | |
| Q1 2025 | +2.7% | +4.4% | +48.4% | |
| Q4 2024 | -6.3% | +0.9% | -11.4% | |
| Q3 2024 | +0.0% | -14.4% | -19.8% | |
| Q1 2024 | +0.4% | -0.1% | +11.1% | |
| Q4 2023 | +0.7% | -2.8% | -12.4% | |
| Q3 2023 | +3.9% | +3.8% | -2.7% | |
| Q2 2023 | +7.3% | +8.8% | +9.4% | |
| Q1 2023 | -1.5% | -2.6% | -2.9% | |
| Q4 2022 | +0.7% | -5.1% | -13.7% | |
| Q3 2022 | -5.7% | -8.5% | -2.6% | |
| Q2 2022 | +9.6% | +12.1% | +32.7% | |
| Q1 2022 | -24.0% | -26.8% | -10.6% | |
| Q4 2021 | +4.5% | +28.4% | +64.6% | |
| Q3 2021 | +13.7% | +12.1% | -9.9% | |
| Q2 2021 | +5.4% | +13.4% | +3.3% | |
| Q1 2021 | +1.7% | +4.9% | +4.0% | |
| Q4 2020 | +5.9% | +5.5% | +9.0% | |
| Q3 2020 | +13.2% | +9.8% | +14.9% | |
| Q2 2020 | -11.4% | -11.0% | -8.3% | |
| Q1 2020 | +0.5% | +17.9% | +37.1% | |
| Q4 2019 | -3.1% | -15.5% | -18.6% | |
| Q3 2019 | -10.2% | -32.6% | -52.1% | |
| Q2 2019 | +4.4% | +9.3% | +9.0% | |
| Q1 2019 | +0.2% | -1.1% | -26.2% | |
| Q4 2018 | +8.1% | +5.4% | -12.3% | |
| Q3 2018 | +17.8% | +18.5% | -25.0% | |
| Q2 2018 | -5.9% | -12.8% | -27.3% | |
| Q1 2018 | +4.0% | +12.4% | +13.6% | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q3 2015 | — | — | — |
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