Cogent Biosciences Shares Skyrockets nearly 77% After Posting Positive APEX Study Results

Cogent Biosciences stock soars almost 77% after reporting positive initial clinical data from the ongoing phase 2 APEX trial evaluating the selective inhibitor bezuclastinib in patients.

Source: Cogent Biosciences

COGT up +77.13%, CPRX up +0.60%

In the trial, 11/11 patients obtained a 50% reduction in serum tryptase levels by central assessment, and 8/8 patients achieved a 50% reduction in bone marrow mast cells by central review.

Andrew Robbins, CEO at Cogent Biosciences, stated they expect to accelerate timelines and investment and push forward to provide another APEX clinical update by the end of 2022.

Cogent continues to proactively enroll patients in SUMMIT, a Phase 2 clinical trial with bezuclastinib for NonAdvSM and PEAK.

Cogent is set to present initial data from SUMMIT and lead-in data from PEAK in the first half of 2023.