** Shares of Cogent Biosciences COGT.O down 2.1% to $9.57 on light premarket volume after overnight follow-on pirced
** Waltham, Massachusetts -based firm late Tues announced pricing ~22.2 mln shares at $9 for $200 mln gross proceeds
** Deal size boosted from $ 150 mln, priced at 8% discount to last sale
** Co plans to use net proceeds for continued development, regulatory and commercial preparation activities relating to bezuclastinib and other product candidates, among other purposes
** COGT shares on Mon surged 23% to $9.35 after co said bezuclastinib showed statistically significant reduction in symptoms in patients with mastocytosis, a type of blood disorder, and that it expects to file a marketing application for the treatment by the end of 2025
** JP Morgan, Leerink and Guggenheim are jt bookrunners for the offering
** Through Tues close, shares up 25% YTD
** 9 of 12 analysts rate COGT "strong buy" or "buy", rest rate "hold" and median PT is $17.50 - LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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