BUZZ-Cogent Biosciences slips after upsized $200 mln equity offering

Reuters

Jul 09, 2025

BUZZ-<a href="https://laohu8.com/S/COGT">Cogent Biosciences</a> slips after upsized $200 mln equity offering

** 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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The views expressed are his own)</p><p>((lance.tupper@tr.com 1-646-279-6380))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1670628061.USD","symbol_name":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250709:nL6N3T60HB:1","article_id":"2550636474","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2550636474","pubTimestamp":1752056902,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"** Shares of Cogent Biosciences COGT.O down 2.1% to $9.57 on light premarket volume after overnight follow-on pirced. -based firm late Tues announced pricing ~22.2 mln shares at $9 for $200 mln gross proceeds. ** 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. 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The views expressed are his own)((lance.tupper@tr.com 1-646-279-6380))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}