Cogent Biosciences Inc
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Health Care : Biotechnology | Small Cap Value
Company profile

Cogent Biosciences, Inc. is a biotechnology company that is focused on developing precision therapies for genetically defined diseases. The Company’s most advanced clinical program, bezuclastinib (CGT9486), is a selective tyrosine kinase inhibitor that is designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. KIT D816V is responsible for driving systemic mastocytosis, a serious disease caused by unchecked proliferation of mast cells. In addition to bezuclastinib, the Company is developing a portfolio of novel targeted therapies to help patients fighting serious, genetically driven diseases. The Company has initiated APEX, a Phase II clinical study of bezuclastinib in patients with AdvSM. APEX is an open-label, global, multicenter study evaluating the safety, efficacy, pharmacokinetic, and pharmacodynamic profiles of bezuclastinib. It also initiated Peak, a randomized, open-label, global Phase III clinical trial.

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-0.45 (-3.08%)
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Oshkosh shares dip premarket after company swings to a loss and lowers guidance, citing inflation and supply chain issues

7:38 am ET April 27, 2022 (MarketWatch)

Specialty vehicle maker Oshkosh Corp. (OSK) posted a net loss of $2.1 million, or 3 cents a share, for the first quarter, after net income of $99.6 million, or $1.44 a share, in the year-earlier period, as inflation and supply chain issues weighed. Excluding one-time charges, it had adjusted EPS of 24 cents, ahead of the 16 cent FactSet consensus. Sales rose 3% to $1.95 billion, and were also ahead of the $1.87 billion FactSet consensus. "Commodity prices showed steady improvement in the first half of the quarter, but significantly reversed course following the Russian invasion of Ukraine as steel and aluminum costs as well as freight costs increased rapidly," Chief Executive John C. Pfeifer said in a statement. "Additionally, we continued to experience supply chain disruptions and elevated workforce turnover that remain macro issues affecting many industries." To combat those issues, the company imposed additional surcharges on its Access Equipment and Commercial segments and took pricing actions in the Fire & Emergency segment, he added. The company also received its first order from the U.S. Postal Service for next-gen vehicles, a $3 billion order for 50,000 vehicles and more than 10,000 battery electric vehicles. The company lowered its 2022 guidance to reflect the continued pressures from inflation, rising freight costs and supply chain disruptions that have got worse in China amid a surge in COVID cases. It now expects adjusted EPS of $5.00 to $6.00, compared with a FactSet consensus of $6.15. Previous guidance was for EPS of $5.75 to $6.75. Shares fell 0.7% premarket and are down 16% in the year to date, while the S&P 500 has fallen 12%.

-Ciara Linnane


(END) Dow Jones Newswires

April 27, 2022 07:38 ET (11:38 GMT)

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