Cogent Biosciences

Q2 FY2026 EarningsQ2 FY26 results were largely in-line with consensus on the bottom line, with a Net Loss of -$96.4M vs. -$96.4M expected and GAAP EPS of -$0.82 (estimated based on net loss) vs. -$0.56 consensus, suggesting a higher share count or weighted impact. While revenue remains at zero as expected for a pre-commercial biotech, G&A expenses surged 138% YoY to $31.8M, reflecting aggressive commercial onboarding for the bezuclastinib launch. A strong pro forma cash position of $865.9M extends the runway into late 2028, significantly de-risking the upcoming PDUFA dates in Nov/Dec 2026.