Cogent Biosciences, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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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.
Sep 30, 2026 · Filed Nov 5, 2026
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)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(305,183) | $(226,445) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization expense | 1,939 | 1,936 |
| Stock-based compensation expense | 50,887 | 30,328 |
| Amortization of operating leases, right-of-use assets | 1,835 | 1,506 |
| Net amortization (accretion) of premiums (discounts) on marketable securities | (2,054) | (906) |
| Amortization of debt discount and issuance costs | 849 | 363 |
| Loss on fixed asset disposal | 134 | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (2,860) | 3,041 |
| Other assets | 1,388 | 374 |
| Accounts payable | (3,564) | 4,016 |
| Accrued expenses and other current liabilities | 12,699 | 1,586 |
| Operating lease liability | (1,101) | (1,158) |
| Other liabilities | 90 | 20 |
| Net cash used in operating activities | (244,941) | (185,339) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (927) | (743) |
| Purchases of marketable securities | (290,716) | (291,949) |
| Maturities and sales of marketable securities | 306,778 | 215,935 |
| Net cash provided by (used in) investing activities | 15,135 | (76,757) |
| Cash flows from financing activities: | ||
| Proceeds from long-term debt | — | 49,291 |
| Payment of debt issuance costs | — | (2,304) |
| Proceeds from issuance of common stock under ATM, net of issuance costs of $3.6 million and $0.7 million, respectively | 117,513 | 24,250 |
| Proceeds from issuance of common stock in public offering, net of offering costs of $14.3 million | — | 215,792 |
| Proceeds from pre-funded warrant exercises | 6 | — |
| Proceeds from issuance of common stock upon stock option exercises | 15,393 | 1,185 |
| Proceeds from issuance of common stock from Employee Stock Purchase Plan | 2,343 | 1,350 |
| Net cash provided by financing activities | 135,255 | 289,564 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (94,551) | 27,468 |
| Cash, cash equivalents and restricted cash at beginning of period | 312,428 | 98,165 |
| Cash, cash equivalents and restricted cash at end of period | $217,877 | $125,633 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $1,838 | $1,410 |
| Supplemental disclosure of noncash investing and financing information: | ||
| Conversion of Series A Preferred Stock into common shares | $24,640 | $2,685 |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $5,675 | $— |
| Debt discount included in accrued expenses and other liabilities | $— | $3,100 |
| Offering costs included in accounts payable and accrued expenses | $— | $43 |
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