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Systemic Mastocytosis: one US-listed biotech with a clinical-stage programme

OncologyUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$6.1Buniverse median $1.20B
Allocated capital$1.5B$6.1B competing
Phase 3 or filed01 mid, 0 early
Pure plays0this indication only
Capital rank118/299crowding rank 138

Systemic Mastocytosis is uncontested. Cogent Biosciences (COGT) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with Bezuclastinib in phase 2.

There is no public comparable to price it against. COGT spreads its $6.1B market cap across 4 indications, so $1.5B of it is allocated here.

Nothing here has reached Phase 3: 1 programme in mid stage and 0 in early stage, so the field is still several years from a first approval.

$1.5B of allocated capital sits in Systemic Mastocytosis, ranking it 118th of 299 indications by the money committed to it.

Companies developing drugs for Systemic Mastocytosis 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
COGTCogent BiosciencesBezuclastinibPhase 21$6.1BNo4 30 Nov 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Systemic Mastocytosis counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Systemic Mastocytosis has one competitor and a median of $6.1B.

Oncology

Oncology holds $187B of the map's capital, 27.8% of the total, spread across 119 indications and 103 companies. 34 of those indications have more than one company competing.

See every Oncology indication on the map

Related indications in Oncology

Intrahepatic Cholangiocarcinoma1 company · $1.5B · median $6.1BUncontestedGastrointestinal Cancer1 company · $1.5B · median $6.1BUncontestedDesmoid Tumor1 company · $1.5B · median $3.1BUncontestedSoft-tissue Sarcoma2 companies · $1.5B · median $4.0BConcentrated betUrothelial Cancer1 company · $1.4B · median $1.4BUncontestedNon-Hodgkin's Lymphoma7 companies · $1.7B · median $239MKnife fightMetastatic Small Cell Lung Cancer1 company · $1.3B · median $4.0BUncontestedAdvanced Renal Cell Carcinoma1 company · $1.3B · median $14.7BUncontested

Systemic Mastocytosis pipeline questions

Which biotech companies are developing drugs for Systemic Mastocytosis?

Cogent Biosciences (COGT, Bezuclastinib, Phase 2). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Systemic Mastocytosis.

How advanced is the Systemic Mastocytosis pipeline?

Of the 1 clinical-stage programme in Systemic Mastocytosis, 0 are in Phase 3 or filed, 1 is in mid-stage development and 0 are in early-stage development.

Is anyone else developing a drug for Systemic Mastocytosis?

No. COGT is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Systemic Mastocytosis, which is why the indication is classified as uncontested.

When is the next Systemic Mastocytosis catalyst?

The next dated catalyst in Systemic Mastocytosis is COGT on 30 Nov 2026. 1 dated event across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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