04:43 PM EDT, 07/08/2025 (MT Newswires) -- Cogent Biosciences ( COGT ) said Tuesday that it started an underwritten public offering of $150 million of its common stock.

The underwriters will have a 30-day option to buy up to an additional $22.5 million of shares on the same terms and conditions.

Net proceeds from the offering are expected to be used for continued development, regulatory and commercial preparation activities for bezuclastinib and other product candidates, as well as working capital and general corporate purposes, Cogent said.

Shares of Cogent Biosciences ( COGT ) fell nearly 4% in recent after-hours activity.