Cogent Biosciences Shares Fall After Public Offering News

Dow Jones

2025/07/09

By Stephen Nakrosis

Shares of Cogent Biosciences were trading in the red in Tuesday's after-hours market, following news the biotechnology company commenced an underwritten public offering for $150 million of its common stock.

In the late-trading session, the stock was down 4.9%, at $9.30. Shares had fallen as low as $8.80 after the bell before recovering some lost ground. The stock finished the day's regular session with a 4.6% gain, closing at $9.78.

The company said proceeds from the offering will be used for development, regulatory and commercial preparation activities relating to its lead drug candidate, bezuclastinib, which is being developed to inhibit cell mutations found in certain cancer patients. Proceeds will also go toward developing other product candidates, including novel targeted therapies to help patients fighting serious, genetically driven diseases, the company said.

All shares in the public offering are being provided by Cogent.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 08, 2025 17:03 ET (21:03 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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