Healthcare investment firm OrbiMed Advisors significantly increased its position in Cogent Biosciences during the second quarter of 2026, boosting its stake by over 420%. The trade, valued at an estimated $52.6 million, raised OrbiMed's total holding to $65.07 million. This information comes from a quarterly 13F filing, which discloses stock holdings with a delay and reflects the firm's position as of June 30, 2026.
The increased investment coincided with a period of substantial progress for Cogent, which submitted three New Drug Applications to the FDA for its lead drug candidate, bezuclastinib, in the first half of the year. With potential FDA approval decisions expected later in 2026, Cogent has been preparing for a commercial launch and has stated it has sufficient cash to fund its operations into late 2028.