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Cogent Biosciences, Inc.

For the period ended Jun 30, 2025. Filed Aug 5, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Aug 5, 2025

COGT$31.64-5.7%Stored close · as of Nov 10, 2026

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Condensed Consolidated Statements of Cash Flows

(in thousands)

Six Months EndedJune 30,
20252024
Cash flows from operating activities:
Net loss$(145,515)$(117,298)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense1,2951,205
Stock-based compensation expense19,72419,405
Amortization of operating leases, right-of-use assets1,000941
Net amortization (accretion) of premiums (discounts) on marketable securities(739)1,185
Amortization of long-term debt discount and issuance costs63—
Changes in operating assets and liabilities:
Prepaid expenses and other current assets2,235(1,694)
Other assets—(2)
Accounts payable4,612(1,680)
Accrued expenses and other current liabilities(2,979)3,377
Operating lease liability(758)(669)
Other liabilities9—
Net cash used in operating activities(121,053)(95,230)
Cash flows from investing activities:
Purchases of property and equipment(678)(218)
Purchases of marketable securities(67,883)(223,411)
Maturities and sales of marketable securities146,850140,048
Net cash provided by (used in) investing activities78,289(83,581)
Cash flows from financing activities:
Proceeds from long-term debt49,291—
Payment of debt issuance costs(2,069)—
Proceeds from issuance of common stock under ATM, net of issuance costs of $0.7 million24,250—
Proceeds from issuance of common stock and Series B Preferred Stock in connection with the Private Placement, net of offering costs $11.6 million—213,336
Proceeds from issuance of common stock upon stock option exercises141109
Proceeds from issuance of stock from employee stock purchase plan584356
Net cash provided by financing activities72,197213,801
Net increase in cash, cash equivalents and restricted cash29,43334,990
Cash, cash equivalents and restricted cash at beginning of period98,16553,229
Cash, cash equivalents and restricted cash at end of period$127,598$88,219
Supplemental disclosure of cash flow information:
Cash paid for interest$252$—
Supplemental disclosure of noncash investing and financing information:
Debt discount included in accrued expenses and other liabilities$3,100$—
Debt issuance costs included in accounts payable and accrued expenses$236$—
Offering costs included in accounts payable and accrued expenses$—$49
Conversion of Series A Preferred Stock into common shares$2,685$—
Conversion of Series B Preferred Stock into common shares$—$107,980
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.