Cogent Biosciences Inc at Needham Healthcare Conference (Virtual) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ami Fadia - Needham & Company - Analyst : Okay, great. Just a quick reminder for our listeners. (Conference Instructions) But let's start with the SM market. The obvious competitor there for bezuclastinib is Ayvakit, which is commercialized by Blueprint. Can you talk about what is the hypothesis around how bezuclastinib could be better than Ayvakit in both advanced and non-advanced SM or ISM?

Question: Ami Fadia - Needham & Company - Analyst : Okay. I wanted to start with the ISM market. Blueprint recently presented more data on the ISM indication for Ayvakit, which they are coming up against their PDUFA date. And bezuclastinib will have data from the SUMMIT study in the second half of the year, and that'll be the first time we'll see some data in this indication for bezu. And investors are benchmarking that data with the Part 1 of the PIONEER study that Blueprint had reported on. Is that a fair comparison? As we sort of think about the SUMMIT readout, what are some of the similarities or differences across the two trials that we should be just aware of?

Question: Ami Fadia - Needham & Company - Analyst : Okay. And just interest in terms of this endpoint, in terms of the total symptom score, I suppose you guys developed it sort of independently. Is it really kind of pretty much comparable to what Blueprint has developed in terms of their primary endpoint?

Question: Ami Fadia - Needham & Company - Analyst : So you think this overall scale is still comparable, numeric scale?

Question: Ami Fadia - Needham & Company - Analyst : Perfect. Okay. You talked about the potential to be able to dose up the bezu to really drive better efficacy. What are the doses that you're testing in the SUMMIT trial? And how do those levels compare to what you're studying in the APEX trial, which is the advanced SM trial?

Question: Ami Fadia - Needham & Company - Analyst : Okay. And just to move on to pricing. I know it's a little bit early, but we've heard from Blueprint comments that they're looking at price parity between the advanced and non-advanced indication. And we've heard some conflicting feedback from KOLs where some say that price points in ISM needs to be lower than that of ASM. What are your general thoughts? And kind of what's your sort of overall pricing philosophy around this?

Question: Ami Fadia - Needham & Company - Analyst : Maybe last question on ISM and then we can move to ASM. As a second entrant in the market, what do you believe is absolutely necessary in terms of the clinical profile of bezuclastinib for you to either take share or meaningfully grow as you come in as second entrant? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 19, 2023 / 6:15PM, COGT.OQ - Cogent Biosciences Inc at Needham Healthcare Conference (Virtual)

Question: Ami Fadia - Needham & Company - Analyst : Okay. And maybe we -- I wanted to just sort of round up the -- some of the updates that you provided on the APEX trial just about two days. So you're moving into Part 2 and you're enrolling SM-AHN patients who are also enrolling maybe two other types of patients. So can you elaborate on that? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 19, 2023 / 6:15PM, COGT.OQ - Cogent Biosciences Inc at Needham Healthcare Conference (Virtual) And also maybe just sort of frame for us what was -- what did you sort of see in the data from Part 1 that got you comfortable enough to move into Part 2? The last time we saw data from APEX was in December of last year. So perhaps if you could sort of share with us what's -- what have been the developments since.

Question: Ami Fadia - Needham & Company - Analyst : Yeah.

Question: Ami Fadia - Needham & Company - Analyst : Got it. And then the one other thing that you talked about before was really having the opportunity to test in patients that have a platelet count below a certain threshold, which was excluded out of the Ayvakit label as well. What is the right time point to have the discussion with the FDA to see if that's something that you can start to study? Do you feel like you need to generate more data perhaps from the Part 2 of the study to be able to do that?

Question: Ami Fadia - Needham & Company - Analyst : Got it. Okay. Let's move to GIST. This gets relatively less attention in my view than the SM program. But perhaps if you could sort of set the stage with regards to what is the unmet need here and the target addressable market. And how is your strategy different from perhaps that of Deciphera or Theseus?

Question: Ami Fadia - Needham & Company - Analyst : Okay. We're about to get an update from the PEAK trial. Can you frame for us what is the update we will get from this study and what should we be looking for in terms of in efficacy and in sort of safety readout?

Question: Ami Fadia - Needham & Company - Analyst : Okay. I know we've got only two minutes left, but I have to ask you the question on efficacy. Should we be expecting the efficacy to be relatively comparable to what we saw at CTOS? Roughly I think we will be looking at that about 20% overall response rate for the combination. Should -- is that what you're expecting from this? And what would be the read-through from that in terms of what we could expect for a median PFS data point?

Question: Ami Fadia - Needham & Company - Analyst : Yeah.

Question: Ami Fadia - Needham & Company - Analyst : Got it. Looks like we're out of time. I will have to end here. Thank you so much for joining us today, Andy, and thanks to all the listeners.