Jul. 18 at 11:33 AM
Citi⬆️
$COGT $22 from
$15/reit Buy
"Recent top-line results for bezuclastinib's (bezu) SUMMIT trial (our recap HERE) in non-advanced systemic mastocytosis (NonAdvSM) was well-received, propelling Cogent up 69% (+6% for the
$XBI; see our Catalyst Watch HERE)."
$BPMC -
$SNY
"Investors are beginning to see bezu as an upgrade over Blueprint's Ayvakit.
Though SUMMIT's top-line readout is behind us, other
catalysts remain ahead. Key symptom and biomarker data at a future medical meeting (perhaps #ASH in December) should further bolster bezu's case.
Beyond this, we highlight two additional upcoming registrational readouts, with advanced SM (AdvSM) from the APEX trial in 2H25 and GIST from the PEAK trial by YE25.
Like SUMMIT, investors are materially underestimating the opportunity for both.
We expect views on these updates will shift positively, fueling further upside.
We also highlight Cogent's participation in Citi's 2025 Biopharma Back to School Conference in Boston, Sept 2-3. Register HERE."
