Cogent Biosciences, Inc.
For the period ended Dec 31, 2025. Filed Feb 17, 2026.
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FY2025 · Filed Feb 17, 2026
COGT$31.64-5.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating expenses: | |||
| Research and development | $269,780 | $232,658 | $173,755 |
| General and administrative | 63,583 | 43,281 | 34,375 |
| Total operating expenses | 333,363 | 275,939 | 208,130 |
| Loss from operations | (333,363) | (275,939) | (208,130) |
| Other income: | |||
| Interest income | 14,689 | 18,088 | 13,077 |
| Interest expense | (3,062) | — | — |
| Loss on debt extinguishment | (7,181) | — | — |
| Change in fair value of CVR liability | — | — | 1,700 |
| Other income (expense), net | (20) | 1,992 | 943 |
| Total other income, net | 4,426 | 20,080 | 15,720 |
| Net loss | $(328,937) | $(255,859) | $(192,410) |
| Net loss per share, basic and diluted, Series A non-voting convertible preferred stock | $(538.96) | $(484.85) | $(486.23) |
| Weighted average Series A non-voting convertible preferred stock outstanding, basic and diluted | 67,600 | 73,350 | 77,085 |
| Net loss per share, basic and diluted, Series B non-voting convertible preferred stock | $(2,155.80) | $(1,939.47) | $— |
| Weighted average Series B non-voting convertible preferred stock outstanding, basic and diluted | 6,778 | 9,731 | — |
| Net loss per share, basic and diluted, common stock | $(2.16) | $(1.94) | $(1.94) |
| Weighted average common stock outstanding, basic and diluted | 128,899,408 | 103,856,611 | 79,657,942 |
| Comprehensive loss: | |||
| Net loss | $(328,937) | $(255,859) | $(192,410) |
| Other comprehensive income (loss): | |||
| Net unrealized gains (losses) on marketable securities | (92) | 201 | 350 |
| Total other comprehensive income (loss) | (92) | 201 | 350 |
| Comprehensive loss | $(329,029) | $(255,658) | $(192,060) |
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