Cogent Biosciences, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $269.8M | $232.7M | $173.8M | $121.6M | $55.9M |
| Operating income | -$333.4M | -$275.9M | -$208.1M | -$147.8M | -$75.6M |
| Interest expense | $3.1M | — | — | — | — |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$328.9M | -$255.9M | -$192.4M | -$140.2M | -$72.3M |
| Balance Sheet | |||||
| Cash and equivalents | $312.0M | $98.2M | $53.2M | $139.9M | $219.7M |
| Current assets | $910.4M | $296.5M | $270.8M | $265.0M | $222.6M |
| Total assets | $937.6M | $327.9M | $313.4M | $300.8M | $232.1M |
| Current liabilities | $64.0M | $55.7M | $38.2M | $26.8M | $17.1M |
| Total liabilities | $301.2M | $71.6M | $55.6M | $45.1M | $17.9M |
| Total debt | $230.0M | — | — | — | — |
| Stockholders' equity | $636.4M | $256.3M | $257.8M | $255.7M | $214.2M |
| Cash Flow Statement | |||||
| Cash from operations | -$264.4M | -$207.8M | -$153.6M | -$118.6M | -$58.8M |
| Depreciation and amortization | $2.6M | $2.5M | $2.3M | $842,000 | $147,000 |
| Stock-based compensation | $46.1M | $39.7M | $30.6M | $18.4M | $11.7M |
| Capital expenditure | $1.6M | $573,000 | $2.8M | $6.9M | $1.7M |
| Free cash flow | -$266.0M | -$208.4M | -$156.4M | -$125.5M | -$60.5M |
| Impairments | — | — | — | — | $0 |
Shares outstanding 170.9M · Free float 82.8%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.