RTW Buys $116 Million of Cogent Biosciences as Kynam Trims $48 Million Stake

An FDA review of bezuclastinib with a December 30 target date now defines the next catalyst.

Overview

RTW Investments disclosed a purchase of 4,124,755 Cogent shares in a February 17 SEC filing, an estimated $115.95 million move that lifted the position to 2.7% of its reportable AUM.
Kynam Capital reported selling 1,720,949 Cogent shares for an estimated $48.38 million during the fourth quarter, yet the stock still accounted for roughly 13.99% of its AUM and remained its largest holding.
Cogent shares were recently priced at $33.38, up about 360% over the past year, giving the company a market value of roughly $5.4 billion.
Bezuclastinib’s application was accepted by the FDA earlier this month, and the agency set a target action date of December 30 following positive SUMMIT pivotal data in non‑advanced systemic mastocytosis.
Cogent ended the year with $900.8 million in cash and cash equivalents, which the company says funds operations into 2028.