Cogent Biosciences, Inc.
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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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
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
(in thousands)
| Six Months EndedJune 30, | ||
|---|---|---|
| 2025 | 2024 | |
| 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 expense | 1,295 | 1,205 |
| Stock-based compensation expense | 19,724 | 19,405 |
| Amortization of operating leases, right-of-use assets | 1,000 | 941 |
| Net amortization (accretion) of premiums (discounts) on marketable securities | (739) | 1,185 |
| Amortization of long-term debt discount and issuance costs | 63 | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 2,235 | (1,694) |
| Other assets | — | (2) |
| Accounts payable | 4,612 | (1,680) |
| Accrued expenses and other current liabilities | (2,979) | 3,377 |
| Operating lease liability | (758) | (669) |
| Other liabilities | 9 | — |
| 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 securities | 146,850 | 140,048 |
| Net cash provided by (used in) investing activities | 78,289 | (83,581) |
| Cash flows from financing activities: | ||
| Proceeds from long-term debt | 49,291 | — |
| Payment of debt issuance costs | (2,069) | — |
| Proceeds from issuance of common stock under ATM, net of issuance costs of $0.7 million | 24,250 | — |
| 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 exercises | 141 | 109 |
| Proceeds from issuance of stock from employee stock purchase plan | 584 | 356 |
| Net cash provided by financing activities | 72,197 | 213,801 |
| Net increase in cash, cash equivalents and restricted cash | 29,433 | 34,990 |
| Cash, cash equivalents and restricted cash at beginning of period | 98,165 | 53,229 |
| 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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