Revenue: As of FY2026 Q2, the actual value is USD 0.

EBIT: As of FY2026 Q2, the actual value is USD -95.19 M.

Financial Overview

Cogent Biosciences, Inc. reported a pro forma cash balance of $865.9 million, which is expected to fund operations into late 2028, including through potential FDA approvals and early commercial launch activities for bezuclastinib. As of June 30, 2026, cash, cash equivalents, and marketable securities totaled $792.3 million, a decrease from $900.765 million as of December 31, 2025.

Operating Expenses

Three Months Ended June 30

• Research and development (R&D) expenses were $70.811 million in Q2 2026, an increase from $62.203 million in Q2 2025. Non-cash stock compensation within R&D was $8.6 million in Q2 2026, up from $5.0 million in Q2 2025.
• General and administrative (G&A) expenses were $31.827 million in Q2 2026, significantly higher than $13.379 million in Q2 2025. Non-cash stock compensation within G&A was $8.5 million in Q2 2026, compared to $4.8 million in Q2 2025.
• Total operating expenses reached $102.638 million in Q2 2026, up from $75.582 million in Q2 2025.

Six Months Ended June 30

• Research and development (R&D) expenses were $146.176 million in H1 2026, compared to $125.232 million in H1 2025.
• General and administrative (G&A) expenses were $60.069 million in H1 2026, up from $25.283 million in H1 2025.
• Total operating expenses were $206.245 million in H1 2026, compared to $150.515 million in H1 2025.

Loss from Operations

• Loss from operations was -$102.638 million for Q2 2026, compared to -$75.582 million for Q2 2025.
• For the six months ended June 30, the loss from operations was -$206.245 million in 2026, versus -$150.515 million in 2025.

Other Income, Net

Three Months Ended June 30

• Interest income was $7.461 million in Q2 2026, an increase from $2.373 million in Q2 2025.
• Interest expense was -$1.217 million in Q2 2026, compared to -$0.314 million in Q2 2025.
• Other income (expense), net was -$0.011 million in Q2 2026, versus -$0.006 million in Q2 2025.
• Total other income, net was $6.233 million in Q2 2026, up from $2.053 million in Q2 2025.

Six Months Ended June 30

• Interest income was $15.069 million in H1 2026, compared to $5.325 million in H1 2025.
• Interest expense was -$2.430 million in H1 2026, versus -$0.314 million in H1 2025.
• Other income (expense), net was -$0.151 million in H1 2026, compared to -$0.011 million in H1 2025.
• Total other income, net was $12.488 million in H1 2026, up from $5.000 million in H1 2025.

Net Loss

• Net loss for Q2 2026 was -$96.405 million, compared to -$73.529 million for Q2 2025.
• For the six months ended June 30, the net loss was -$193.757 million in 2026, versus -$145.515 million in 2025.

Balance Sheet Data (as of June 30, 2026 vs. December 31, 2025)

• Working capital was $745.524 million as of June 30, 2026, down from $846.402 million as of December 31, 2025.
• Total assets were $834.546 million as of June 30, 2026, compared to $937.607 million as of December 31, 2025.
• Total liabilities were $302.158 million as of June 30, 2026, slightly up from $301.236 million as of December 31, 2025.
• Total stockholders’ equity was $532.388 million as of June 30, 2026, a decrease from $636.371 million as of December 31, 2025.

Operational Highlights and Outlook

Cogent Biosciences, Inc. submitted three New Drug Applications for bezuclastinib and onboarded a cross-functional customer-facing team in preparation for potential product launches. Key upcoming milestones include potential FDA approval of bezuclastinib for GIST patients by November 30, 2026, and for NonAdvSM patients by December 30, 2026. Additionally, the company plans to submit Investigational New Drug (IND) applications for CGT1815 and CGT1145, and complete dose escalation for CGT4255.