NASDAQ$COGT
Cogent Biosciences Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Cogent Biosciences reported financial results for the fourth quarter and full year of 2023 and provided a business update.
Cogent Biosciences reported its Q4 and full-year 2023 financial results, highlighting the ongoing clinical trials of bezuclastinib and a strong cash position to fund operations into 2027.
- SUMMIT Part 2 registration-directed study of bezuclastinib in NonAdvSM patients initiated and actively enrolling.
- PEAK Phase 3 study of bezuclastinib + sunitinib in 2nd-line GIST patients on track to complete enrollment by end of 2024.
- APEX Part 2 registration-directed study of bezuclastinib in AdvSM patients on track to complete enrollment by end of 2024.
- $487 million in pro-forma cash sufficient to fund operations into 2027, including net proceeds from oversubscribed $225 million February 2024 PIPE.
Headline financials
Revenue & EPS history
Cogent Biosciences · Revenue · Quarterly
$0
Forward guidance
Cogent Biosciences provided forward-looking statements regarding the expected completion of enrollment and top-line results for its SUMMIT, PEAK, and APEX trials, as well as its cash runway and plans for additional clinical data and pipeline development.
Tailwinds
- SUMMIT to complete enrollment in the second quarter of 2025 and deliver top-line results by the end of 2025
- PEAK to complete enrollment by the end of 2024 and to deliver top-line results by the end of 2025
- APEX to complete enrollment by the end of 2024 and to deliver top-line results by mid-2025
- Company’s anticipated cash runway into 2027
- Plans to initiate a Phase 1 trial of the first internally-discovered pipeline program, designed as a potent, selective, reversible FGFR2 inhibitor with best-in-class potential, in the second half of 2024
Headwinds
- The expectation for SUMMIT to complete enrollment in the second quarter of 2025 and deliver top-line results by the end of 2025 is a forward-looking statement and is subject to a number of material risks and uncertainties
- The expectation for PEAK to complete enrollment by the end of 2024 and to deliver top-line results by the end of 2025 is a forward-looking statement and is subject to a number of material risks and uncertainties
- The expectation for APEX to complete enrollment by the end of 2024 and to deliver top-line results by mid-2025 is a forward-looking statement and is subject to a number of material risks and uncertainties
- The company’s anticipated cash runway into 2027 is a forward-looking statement and is subject to a number of material risks and uncertainties
- Plans to initiate a Phase 1 trial of the first internally-discovered pipeline program, designed as a potent, selective, reversible FGFR2 inhibitor with best-in-class potential, in the second half of 2024 is a forward-looking statement and is subject to a number of material risks and uncertainties
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 Q4 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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