CAMBRIDGE, Mass., October 5, 2020 / PRNewswire / – Unum Therapeutics Inc. (âUnumâ) (NASDAQ: UMRX), a biotechnology company focused on developing precision therapies for genetically defined diseases, today announced its name change to Cogent Biosciences , Inc. (“Cogent”). From the October 6, 2020, Cogent will trade on the NASDAQ under the ticker symbol “COGT”, and the common shares of Cogent will trade under a new CUSIP number, 19240Q102. The new name reflects Cogent’s mission to design rational precision therapies that address the underlying cause of disease and improve the lives of patients. Cogent is also pleased to provide an update on recent scientific and operational advancements since its July acquisition of Kiq LLC, including the announcement of an upcoming oral presentation of phase 1/2 clinical data in gastrointestinal stromal tumors. -intestinal (GIST) with Cogent’s core asset, PLX9486, at the 2020 Connective Tissue Oncology Society (CTOS) Annual Meeting to be held virtually November 18 – 21. As part of the change in the Company’s name, Cogent anticipates that the name of PLX9486 will be changed to CGT9486.
“Our new name reflects the evolution of our company to focus on developing precision therapies for genetically defined diseases and leads the way as we strive to provide real solutions to patients with urgent need for new treatment options, “said Chuck wilson, PhD, Chairman and CEO of Cogent. âOver the past three months, we have made significant progress in reorienting the company’s focus towards our future vision, and we look forward to presenting additional data on our main program PLX9486 at CTOS 2020 as we continue to to advance the program for the treatment of patients with systemic mastocytosis and GIST. ”
Cogent remains on track to advance PLX9486 as a single agent in patients with advanced systemic mastocytosis in the first half of next year and in patients with indolent systemic mastocytosis in the second half of 2021 In addition, Cogent plans to further develop PLX9486 in combination with sunitinib in GIST patients and plans to launch an additional clinical study in GIST in the second half of 2021.
An updated company presentation, which includes additional preclinical data highlighting the potency of PLX9486 versus KIT D816V, is now live on Cogent’s new website, www.cogentbio.com.
PLX9486 + Sunitinib Combination of data to be presented in Oral CTOS Abstract
Cogent’s primary precision therapy is PLX9486, a potent and selective precision kinase inhibitor designed to target KIT mutations found in systemic mastocytosis and GISTs. New details of the open-label phase 1/2 clinical study testing the combination of PLX9486 with sunitinib in 18 adult patients with advanced GIST will be presented as an oral presentation at the next annual meeting of CTOS 2020.
- Title: Potent and selective inhibitor of the PLX9486 kit dosed in combination with sunitinib demonstrates promising progression-free survival (PFS) in patients with advanced gastrointestinal stromal tumor (GIST): final results from a phase 1 study / 2
- Dated: Friday 20 November 2020 from 11:30 a.m. – 12:30 p.m. ET
- Presenter: Jonathan Trent, MD, Ph.D., Miami University Health System, Sylvester Comprehensive Cancer Center
The oral presentation will contain the detailed results of the combination of PLX9486 and sunitinib in patients with advanced GIST. The first results previously reported demonstrated a median progression-free survival of 11 months with the combination of PLX9486 and sunitinib in patients heavily treated with advanced GIST, two-thirds of patients having already received three or more lines of treatment. PLX9486 was well tolerated and the most common treatment-experienced adverse events (TREs) were primarily grade â¤ 2. PLX9486 has been administered to over 50 patients both as monotherapy and as treatment. combined. Based on the data, Cogent believes that the combination of PLX9486 and sunitinib has the potential to address an unmet medical need in patients living with GIST.
Cogent’s current cash balance includes the gross proceeds of a $ 104.4 million private placement alongside the acquisition of Kiq, as well as $ 8.1 million the sale of BOXR with potential short-term milestones of up to $ 3.4 million. This financing provides Cogent with a lead through 2023. More details on Cogent’s cash position will be provided in November during the third quarter earnings call.
Cogent has retained senior Unum executives who bring critical expertise in clinical science, clinical operations, regulatory affairs and project management, and the company has continued to grow the team over the past three months with new hires following the completion of the acquisition of Kiq.
About Cogent Biosciences, Inc.
Cogent Biosciences, Inc. is a biotechnology company focused on the development of precision therapies for genetically defined diseases. Cogent’s most advanced program, PLX9486, is a highly selective tyrosine kinase inhibitor designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. KIT D816V is responsible for a rare and serious disease called systemic mastocytosis, and exon 17 mutations are also found in patients with advanced gastrointestinal stromal tumors (GIST), a type of cancer highly dependent on KIT oncogene signaling. Cogent is headquartered in Cambridge, MA. Visit the Cogent website for more information at www.cogentbio.com. Follow Cogent Biosciences on social networks: Twitter and LinkedIn.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding: projected cash flow leads; future product development plans; future results of clinical trials; and the planned name change to PLX9486. The use of words such as, but not limited to, “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “Could”, “could”, “could”,, “” potential “,” foresee “,” project “,” should “,” target “,” will “or” would “and similar word expressions are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor guarantees of future performance. Instead, they are based on our current beliefs, expectations and assumptions about the future of our business, future plans and strategies , our clinical results and other future conditions. New risks and uncertainties may arise from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (express or implied) are made. made as to the accuracy of these forward-looking statements. We may not realize not the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. These forward-looking statements are subject to a number of important risks and uncertainties, including, but not limited to, those set forth under âRisk Factorsâ in Cogent’s most recent annual report on Form 10- K filed with the SEC, as well as discussions of potential risks, uncertainties and other important factors in our subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it is made. Neither we, nor our affiliates, advisers or representatives, undertake to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. required. These forward-looking statements should not be taken as representing our views as of any date subsequent to the date hereof.
SOURCE Cogent Biosciences, Inc.