COGT - Cogent Biosciences prices upsized $150M in stock offering

Cogent Biosciences (NASDAQ:COGT) priced an underwritten public offering of 15.17M shares offered at a public offering price of $8.25/share. The company is also offering pre-funded warrants to purchase 3.03M shares at a purchase price of $8.24/pre-funded warrant. Underwriters granted 30-day option to purchase up to an additional 2.73M shares. Gross proceeds are expected to be ~$150M, upsized from $125M. Offer is expected to close on or about June 16. Net proceeds to be used for development, regulatory and commercial preparation activities relating to bezuclastinib and other product candidates, as well as for general corporate purposes. Shares trading 5.5% higher premarket.

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Cogent Biosciences prices upsized $150M in stock offering