Cogent Biosciences(US:COGT)2025-05-06 12:19Financial Performance - Net loss for Q1 2025 was $72.0 million, up from a net loss of $58.3 million in Q1 2024[9] - Total operating expenses for Q1 2025 were $74.9 million, compared to $62.4 million in Q1 2024[13] - Total stockholders' equity decreased to $219.0 million as of March 31, 2025, from $256.3 million at the end of 2024[14] Cash Position - Cogent Biosciences ended Q1 2025 with $245.7 million in cash, sufficient to fund operations into late 2026[1] - Cash, cash equivalents, and marketable securities decreased from $287.1 million at the end of 2024 to $245.7 million at the end of Q1 2025[14] - The company sold shares under its at-the-market stock offering for net proceeds of $24.3 million during the quarter[6] Research and Development - Research and development expenses increased to $63.0 million in Q1 2025 from $52.7 million in Q1 2024, reflecting ongoing clinical trials[7] General and Administrative Expenses - General and administrative expenses rose to $11.9 million in Q1 2025 compared to $9.7 million in Q1 2024, primarily due to organizational growth[8] Clinical Trials and Results - The company expects to report top-line results from the SUMMIT trial in July 2025, APEX in the second half of 2025, and PEAK by the end of 2025[5] - Bezuclastinib demonstrated a 65% mean improvement in Total Symptom Score at 48 weeks, with 88% of patients achieving at least a 50% reduction[5]