COGT

MKT CAP:$6B

Cogent Biosciences, Inc.

Market Cap

$6B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$36.73+$1.99 (+5.73%)

Apr 21, 2026

Company Details

Cogent Biosciences, Inc., a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes CGT9486, a selective tyrosine kinase inhibitor designed to inhibit the KIT D8...

CEO

Andrew R. Robbins

IPO Date

Mar 29, 2018

Website

www.cogentbio.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$329M

EPS (Diluted)

-$2.56

Free Cash Flow

-$266M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 17, 2026

$0EPS -$2.55

Q4 2025

Feb 17, 2026

$0EPS -$0.69

Q3 2025

Nov 7, 2025

$0EPS -$0.71

Q2 2025

Aug 5, 2025

$0EPS -$0.64

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$31M
Q2 22	$0	$0	-$36M
Q3 22	$0	$0	-$37M
Q4 22	$0	$0	-$44M
Q1 23	$0	$0	-$43M
Q2 23	$0	$0	-$47M
Q3 23	$0	$0	-$60M
Q4 23	$0	$0	-$58M
Q1 24	$0	$0	-$62M
Q2 24	$0	$0	-$64M
Q3 24	$0	$0	-$75M
Q4 24	$0	$0	-$74M
Q1 25	$0	$0	-$75M
Q2 25	$0	-$1M	-$76M
Q3 25	$0	$0	-$83M
Q4 25	$0	-$1M	-$99M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$28M	-$29M
Q2 22	-$26M	-$28M
Q3 22	-$34M	-$38M
Q4 22	-$29M	-$31M
Q1 23	-$40M	-$41M
Q2 23	-$32M	-$33M
Q3 23	-$38M	-$38M
Q4 23	-$44M	-$44M
Q1 24	-$53M	-$53M
Q2 24	-$43M	-$43M
Q3 24	-$52M	-$52M
Q4 24	-$61M	-$61M
Q1 25	-$67M	-$67M
Q2 25	-$55M	-$55M
Q3 25	-$64M	-$64M
Q4 25	-$79M	-$80M

Capital Expenditures

Quarter	CapEx
Q1 22	$441.0K
Q2 22	$1M
Q3 22	$3M
Q4 22	$2M
Q1 23	$1M
Q2 23	$1M
Q3 23	$121.0K
Q4 23	$315.0K
Q1 24	$70.0K
Q2 24	$148.0K
Q3 24	$280.0K
Q4 24	$75.0K
Q1 25	$547.0K
Q2 25	$131.0K
Q3 25	$65.0K
Q4 25	$811.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+145.5%
Q2 22	—	+107.4%
Q3 22	—	+85.8%
Q4 22	—	+70.6%
Q1 23	—	+37.6%
Q2 23	—	+31.3%
Q3 23	—	+61.8%
Q4 23	—	+33.1%
Q1 24	—	+44.3%
Q2 24	—	+36.7%
Q3 24	—	+26.6%
Q4 24	—	+26.6%
Q1 25	—	+20.1%
Q2 25	—	+17.4%
Q3 25	—	+10.5%
Q4 25	—	+34.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	—
Q2 22	$0	—
Q3 22	$5M	—
Q4 22	$5M	—
Q1 23	$6M	—
Q2 23	$7M	—
Q3 23	$9M	—
Q4 23	$9M	—
Q1 24	$9M	—
Q2 24	$10M	—
Q3 24	$10M	—
Q4 24	$0	—
Q1 25	$10M	—
Q2 25	$10M	—
Q3 25	$11M	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$25M	$6M
Q2 22	$29M	$6M
Q3 22	$30M	$7M
Q4 22	$37M	$7M
Q1 23	$36M	$7M
Q2 23	$39M	$8M
Q3 23	$50M	$9M
Q4 23	$49M	$10M
Q1 24	$53M	$10M
Q2 24	$54M	$10M
Q3 24	$64M	$12M
Q4 24	$62M	$12M
Q1 25	$63M	$12M
Q2 25	$61M	$13M
Q3 25	$69M	$14M
Q4 25	$74M	$24M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$191M	$0	$191M
Q2 22	$326M	$0	$326M
Q3 22	$141M	$149M	$289M
Q4 22	$140M	$119M	$259M
Q1 23	$161M	$60M	$220M
Q2 23	$214M	$115M	$329M
Q3 23	$87M	$192M	$279M
Q4 23	$53M	$212M	$266M
Q1 24	$216M	$220M	$436M
Q2 24	$88M	$275M	$363M
Q3 24	$97M	$238M	$336M
Q4 24	$98M	$189M	$287M
Q1 25	$126M	$120M	$246M
Q2 25	$128M	$110M	$238M
Q3 25	$125M	$266M	$391M
Q4 25	$312M	$589M	$901M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	45M	+3.0%	+29.3%
Q2 22	49M	+9.5%	+28.5%
Q3 22	70M	+40.9%	+74.6%
Q4 22	70M	+1.3%	+60.9%
Q1 23	71M	+0.3%	+56.8%
Q2 23	75M	+5.7%	+51.4%
Q3 23	86M	+15.3%	+23.8%
Q4 23	87M	+0.7%	+23.0%
Q1 24	95M	+9.3%	+34.0%
Q2 24	99M	+4.7%	+32.8%
Q3 24	110M	+11.0%	+27.9%
Q4 24	110M	+0.3%	+27.4%
Q1 25	113M	+2.6%	+19.5%
Q2 25	114M	+1.0%	+15.3%
Q3 25	114M	0.0%	+3.9%
Q4 25	68M	-40.9%	-38.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	77
Q2 22	$0	77
Q3 22	$0	77
Q4 22	$0	138
Q1 23	$0	138
Q2 23	$0	138
Q3 23	$0	138
Q4 23	$0	164
Q1 24	$0	164
Q2 24	$0	164
Q3 24	$0	164
Q4 24	$0	205
Q1 25	$0	205
Q2 25	$0	205
Q3 25	$0	205
Q4 25	$0	200K

Revenue / Employee