Cogent Biosciences Q2 net loss widens on higher expenses
COGT•Expense drivers and key figures
- Clinical program costs: Higher R&D expenses were mainly due to costs for SUMMIT, PEAK and APEX trials, regulatory activities, early-stage research and pre-approval manufacturing.
- Commercial readiness: Higher G&A expenses reflected investments in personnel and infrastructure to support the anticipated bezuclastinib launch and organizational growth.
| Metric | Actual |
|---|---|
| Q2 net loss | $96.41 million |
| Q2 income from operations | -$102.64 million |
| Q2 operating expenses | $102.64 million |
The current average analyst rating on the shares is buy, with 11 strong buy or buy recommendations, 2 hold ratings and no sell or strong sell ratings.
Wall Street's median 12-month price target for Cogent Biosciences, Inc. is $55.00, about 29.7% above its August 7 closing price of $42.39.
