Cogent’s first clinical readout in systemic mastocytosis drives stock bump

Led by a team that includes former Array executives, Cogent believes new clinical data support its conviction that its selective c-KIT inhibitor can be a best-in-class therapy for systemic mastocytosis.

Data presented Friday from the Phase II APEX study showed that bezuclastinib (CGT9486) led to biomarker effects in all evaluable patients with advanced systemic mastocytosis. The news drove shares of Cogent Biosciences Inc. (NASDAQ:COGT) up $2.91 (59%) to $7.87, lifting its market cap above $360 million...