Welcome to our dedicated page for Compugen news (Ticker: CGEN), a resource for investors and traders seeking the latest updates and insights on Compugen stock.
Compugen Ltd (symbol: CGEN) is a cutting-edge drug discovery company specializing in developing therapeutic proteins and monoclonal antibodies to meet critical needs in immunology and oncology. By leveraging a sophisticated infrastructure of proprietary scientific insights, predictive platforms, algorithms, and machine learning systems, Compugen excels in in silico (computer-based) prediction and selection of promising product candidates for its pipeline program.
Compugen's business model is robust and diversified, encompassing partnerships and collaborations for the further development and commercialization of its product candidates. These collaborations typically offer milestone payments and royalties on product sales, providing Compugen with multiple revenue streams. The company's U.S. subsidiary, based in South San Francisco, focuses on developing monoclonal antibodies.
At the core of Compugen's operations is its clinical-stage therapeutic discovery and development efforts, primarily in cancer immunotherapy. Its comprehensive immuno-oncology pipeline includes four clinical-stage programs, each targeting immune checkpoints discovered through computational methods. Notable programs include COM701, COM902, and bapotulimab. These programs are designed to tackle various mechanisms of immune resistance, with a particular focus on myeloid targets.
Recent achievements highlight Compugen's forward momentum. The company announced it would release its fourth quarter and full-year 2023 financial results on March 5, 2024. Compugen's President and CEO, Anat Cohen-Dayag, emphasized the company's strong financial footing, collaboration successes, and the anticipated catalytic milestones in 2024.
Key partnerships enhance Compugen’s clinical progress. For instance, the company has a license agreement with Gilead Sciences for COM503, a first-in-class antibody program against IL-18 binding protein. This agreement includes a $60 million upfront payment and a $30 million milestone payment upon IND clearance.
Another significant partnership is with AstraZeneca, which is advancing a PD-1/TIGIT bispecific antibody derived from Compugen's COM902 into Phase 3 development. This program, rilvegostomig, targets biliary tract cancer and nonsquamous non-small cell lung cancer. These collaborations underscore the extensive potential and validation of Compugen's computational discovery platform.
Compugen's financial health is robust, with a reported cash balance of $101.3 million as of March 31, 2024, ensuring operational funding into 2027. The company has demonstrated prudent financial management, achieving net revenues and reducing operational losses over time.
Headquartered in Israel, with additional offices in San Francisco, Compugen is listed on both Nasdaq and the Tel Aviv Stock Exchange, making it a prominent player in the biotech sector. For investors and stakeholders, Compugen represents a beacon of innovation and potential in cancer immunotherapy.
Compugen (NASDAQ: CGEN) has been granted a new U.S. patent (No. 12152084) covering the triple combination use of its COM902 anti-TIGIT antibody with anti-PD-1 and anti-PVRIG antibodies for cancer treatment. The patent strengthens Compugen's IP portfolio and protects the use of COM902, a reduced Fc clinical-stage antibody, in combination with any anti-PD-1 and anti-PVRIG antibodies. The patent is set to expire no earlier than August 2037.
The company highlights that recent developments suggest potential advantages of anti-TIGITs without active Fc binder, like COM902. Their data indicates blocking TIGIT alone may be insufficient for optimal anti-tumor activity in certain cases, particularly in tumors non-responsive to PD-1 inhibition.
Compugen (NASDAQ: CGEN) reported Q3 2024 financial results and corporate updates. The company presented clinical data for COM701 at SITC 2024, showing durable responses in immunotherapy-resistant tumors. Plans include initiating an adaptive platform trial for COM701 in Q2 2025 for ovarian cancer patients. The company reported $17.1 million in revenues and a net profit of $1.3 million for Q3 2024. Cash position stands at $113.2 million, expected to fund operations into 2027. Partner AstraZeneca advanced rilvegostomig into additional Phase 3 trials, while COM503's Phase 1 trial is set to begin in Q4 2024.
Compugen (Nasdaq: CGEN) announced its participation in the Stifel 2024 Healthcare Conference in New York City. The company's management will engage in a fireside chat scheduled for Monday, November 18, 2024, at 8:35 am ET. The event will be accessible through a live webcast on the Investor Relations section of Compugen's website, with a replay available after the event. Compugen, operating as a clinical-stage cancer immunotherapy company, is known for its pioneering work in computational target discovery.
Compugen (CGEN) has announced promising data on the triple combination of COM701, COM902, and pembrolizumab in treating platinum-resistant ovarian cancer patients. The data will be presented at the SITC 2024 conference in Houston, Texas. The study showed a 17.4% confirmed objective response rate and a 43.5% disease control rate in 23 evaluable patients.
The treatment demonstrated a favorable safety profile with mostly Grade 2 or lower adverse events, and only one Grade 3 event reported. Dr. Oladapo Yeku from Harvard Medical School highlighted the treatment's durability and effectiveness in late-stage ovarian cancer patients. The company plans to advance COM701 to earlier stages of ovarian cancer therapy, particularly targeting patients who are ineligible for maintenance treatment.
Daiichi Sankyo and AstraZeneca have initiated three global Phase 3 trials evaluating datopotamab deruxtecan (Dato-DXd) combinations in advanced nonsquamous non-small cell lung cancer (NSCLC). The trials include: TROPION-Lung10 testing Dato-DXd plus rilvegostomig in high PD-L1 expression patients; TROPION-Lung14 evaluating Dato-DXd plus osimertinib in EGFR mutated NSCLC; and TROPION-Lung15 studying Dato-DXd with/without osimertinib in EGFR mutated NSCLC that progressed on osimertinib. These trials are part of the expanding TROPION program, which now includes seven Phase 3 trials.
Compugen (Nasdaq: CGEN) announced it will release its Q3 2024 financial results on Tuesday, November 12, 2024, before U.S. markets open. The company will host a conference call and webcast at 8:30 AM ET to discuss financial results and provide a corporate update. Management will also discuss data presented at the Society for Immunotherapy of Cancer Annual Meeting (November 8-10, 2024). The conference call will be accessible via phone and live webcast through Compugen's website, with a replay available afterward.
Compugen (Nasdaq: CGEN) has announced that new clinical data will be presented at the 39th Annual Meeting of the Society for Immunotherapy of Cancer (SITC) in Houston, Texas, from November 8-10, 2024. The presentation will focus on the anti-tumor activity and safety of a triple combination therapy involving COM701, COM902, and pembrolizumab in heavily pre-treated patients with platinum-resistant ovarian cancer.
The poster presentation, titled "Triple blockade of DNAM-1axis with COM701 (anti-PVRIG) + COM902 (anti-TIGIT) + pembrolizumab shows preliminary antitumor activity in patients with platinum resistant ovarian cancer, interim results of Phase I trial," will be delivered by Dr. Oladapo Yeku, a Medical Oncologist from Massachusetts General Hospital, on Friday, November 8, 2024. The abstract number for this presentation is 985.
Compugen (Nasdaq: CGEN) will present at the Single Cell Genomics 2024 conference in Greece from September 16-18, 2024. Dr. Roy Granit, Head of Computational Discovery, will showcase a poster on applying AI to gain insights into the novel immune checkpoint PVRIG through single-cell and spatial transcriptomics.
The presentation highlights additional biological insights generated using Compugen's AI/ML-powered computational discovery platform, UnigenTM. These findings support the potential of PVRIG inhibition to induce anti-tumor activity in indications previously resistant to immunotherapy, differentiating it from other immune checkpoints.
The poster presentation, titled 'Applying AI to Gain Insights into the Novel Immune Checkpoint PVRIG Through Single-Cell and Spatial Transcriptomics,' is scheduled for Monday, September 16, 2024. It will be available on Compugen's website following the presentation.
Compugen (Nasdaq: CGEN), a clinical-stage cancer immunotherapy company, announced its upcoming virtual presentation at the H.C. Wainwright 26th Annual Global Investment Conference. The presentation will be available on-demand starting September 9, 2024, at 7:00 AM ET for 30 days on the company's Investor Relations website.
Compugen, known for its pioneering work in computational target discovery, aims to showcase its latest developments and strategies to investors and industry professionals. This presentation offers an opportunity for stakeholders to gain insights into Compugen's progress in the competitive field of cancer immunotherapy.
Compugen (CGEN) reported Q2 2024 results, highlighting key achievements and financial updates:
1. FDA clearance of COM503 IND triggered a $30 million milestone payment from Gilead.
2. On track to present data from COM701 + COM902 + pembrolizumab study in platinum-resistant ovarian cancer in Q4 2024.
3. AstraZeneca provided a non-risk adjusted peak year revenue target of over $5 billion for rilvegostomig, with Compugen eligible for future milestones and royalties.
4. Q2 2024 revenues: $6.7 million, compared to no revenues in Q2 2023.
5. Cash position: $92.3 million as of June 30, 2024, with runway expected to fund operations into 2027.
6. Net loss: $2.1 million ($0.02 per share) in Q2 2024, compared to $9.3 million ($0.11 per share) in Q2 2023.
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