05:58 PM EST, 11/10/2025 (MT Newswires) -- Cogent Biosciences ( COGT ) said late Monday that it has launched concurrent public offerings totaling $400 million.

The offerings include $200 million of its convertible senior notes due 2031 and another $200 million of its common stock.

Underwriters are expected to be given a 30-day option to buy an additional $30 million of notes and $30 million of shares to cover over-allotments.

The company plans to use the proceeds from offering to repay around $50 million in loans and to support the development and anticipated commercialization of its investigational drug bezuclastinib.

Shares were down around 1.4% in recent after-hours trade.