** Cogent Biosciences 
COGT shares down 7% at $30.19 early Tues as it sees to take advantage of a more than doubling of its stock by raising capital
** COGT shares on Mon closed up 119% at 7-year high $32.46 after its drug, bezuclastinib, in combination with Pfizer’s 
PFE Sutent slowed stomach cancer progression in late-stage trial
** Late Mon, co commenced concurrent public offerings of $200 mln of convertible bonds (CBs) due 2031 and $200 mln of shares
** It intfinishs to apply net offering proceeds to repay $50 mln of term loan, plus accrued interest and associated fees, and the remainder for development and regulatory activities relating to bezuclastinib and other product candidates, anticipated commercialization of bezuclastinib, among other purposes
** Jefferies and JP Morgan are joint bookrunners for CBs offering. JP Morgan, Jefferies, Leerink and Guggenheim are leading the equity deal
** Waltham, Massachapplytts-based COGT has ~142.4 mln shares outstanding for about $4.6 bln market cap through Mon
** 11 of 13 analysts rate COGT “strong acquire” or “acquire”, 2 rate “hold”, per LSEG data
** Median PT of $40 up from $20 a month ago
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