Cogent Biosciences (COGT) soared 135.02% to $34.83, up $20.01, after announcing positive clinical data for its investigational treatment bezuclastinib.
The trial results showed major improvement in symptom scores and biomarker reductions compared to placebo, positioning the drug for potential FDA submission by the end of 2025.
The data revealed a mean total symptom score reduction of 24.3 points versus 15.4 points for placebo (adjusted difference 8.91; p = 0.0002) and a 50%+ serum tryptase reduction in 87.4% of treated patients compared to 0% in the placebo arm.
On the day of the announcement, COGT experienced unusually heavy trading volume as investors responded to the clinical breakthrough. The stock's 52-week range was previously near $5.00 - $16.00.
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