Cogent Biosciences Reports First Quarter 2025 Financial Results

Core Insights - Cogent Biosciences, Inc. is on track to report three registration-directed top-line data readouts in 2025, including SUMMIT in July, APEX in the second half of the year, and PEAK by the end of the year [1][2] - The company ended Q1 2025 with $245.7 million in cash, which is sufficient to fund operations into late 2026 [1][5] Recent Business Highlights - The first quarter of 2025 was productive, with a focus on executing across the portfolio in preparation for transformative data readouts [2] - Bezuclastinib, the company's lead candidate, showed a 65% mean improvement in Total Symptom Score (TSS) at 48 weeks in the ongoing SUMMIT trial [6] - The safety profile of bezuclastinib remains favorable, with low-grade and reversible adverse events reported [6] Upcoming Milestones - Top-line results from the SUMMIT trial are expected in July 2025, followed by APEX in the second half of 2025, and PEAK by the end of 2025 [6][5] Financial Results - Cash and cash equivalents as of March 31, 2025, were $245.7 million, with a net loss of $72.0 million for Q1 2025 compared to a net loss of $58.3 million in Q1 2024 [5][9] - Research and development expenses increased to $63.0 million in Q1 2025 from $52.7 million in Q1 2024, primarily due to ongoing clinical trials [6][7] - General and administrative expenses rose to $11.9 million in Q1 2025 from $9.7 million in Q1 2024, attributed to organizational growth [8]