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 Ltd. (Nasdaq: CGEN) reported its fourth quarter and full-year 2021 financial results, highlighting significant progress in cancer immunotherapy. The company emphasized advancements in its DNAM-1 axis research and early anti-tumor signals from its drugs, COM701 and COM902. Key financials included no revenue for Q4 2021, a total of $6 million for the year, and a net loss of approximately $34.2 million. The company expanded its collaboration with Bristol Myers Squibb with a $20 million investment, while cash reserves totaled about $118 million, expected to fund operations into 2024.
Compugen Ltd. (CGEN) will announce its fourth quarter and full year 2021 financial results on February 24, 2022, before U.S. market open. Management will conduct a conference call and webcast at 8:30 AM ET to discuss the results and provide corporate updates. Compugen is focused on cancer immunotherapy, with lead candidate COM701 in Phase 1 studies. The company also has partnered programs with Bayer and AstraZeneca. Interested parties may access the call via phone or webcast, with a replay available post-event.
Compugen Ltd. (NASDAQ: CGEN), a cancer immunotherapy company based in Israel, will present at the 11th Annual SVB Leerink Global Healthcare Conference on February 16, 2022, at 12:00 pm ET. This virtual event will feature a live webcast available on Compugen's Investor Relations website. The company is focused on innovative predictive target discovery and developing therapeutics, including lead candidate COM701, an anti-PVRIG antibody, and COM902 targeting TIGIT. Compugen's shares are traded on Nasdaq and the Tel Aviv Stock Exchange under the ticker CGEN.
Compugen Ltd. (NASDAQ-GM: CGEN) announced the granting of a new patent by the USPTO for its potential first-in-class therapeutic antibody, COM701, which targets PVRIG. This patent, U.S. Patent No. 11,225,523, protects the use of COM701 in combination with any anti-PD-1 and anti-TIGIT antibodies for cancer treatment. The patent is valid until at least August 2037, reinforcing Compugen's unique position in clinical studies. COM701 is currently undergoing Phase 1 trials, focusing on enhancing T cell activation in tumors.
Compugen Ltd. (CGEN) announced preliminary translational data at the TIGIT Therapies Digital Summit, showcasing immune activation in the tumor microenvironment (TME) after treatment with COM701, its anti-PVRIG antibody. Notable findings include increased TME immune activation and TCR clonality in a patient with MSS-CRC and enhanced immune response markers in ovarian cancer patients treated with COM701 and nivolumab. The company aims to explore PVRIG blockade's potential in treating various tumor types that currently resist existing therapies.
Compugen Ltd. (CGEN) reported third-quarter 2021 results, highlighting the presentation of promising Phase 1/2 data for COM701, combined with Opdivo® and BMS-986207, at SITC. The studies indicated a favorable safety profile for the triple combination therapy, facilitating further evaluations in specific tumor types. The company also secured a $20 million equity investment from Bristol Myers Squibb and a $6 million milestone payment from AstraZeneca. Net loss for the quarter decreased to $6.2 million, while cash reserves totaled approximately $102 million, excluding recent financing.
Compugen Ltd. (CGEN) has announced preliminary results from its Phase 1/2 triple combination study of COM701, an anti-PVRIG antibody, with Opdivo and BMS-986207 targeting advanced solid tumors. The study, presented at the SITC 2021, showed no dose limiting toxicity and a favorable safety profile among 13 heavily pretreated patients. Encouraging outcomes include immune activation and stable disease in 3 patients. COM701 at 20 mg/kg is recommended for further study. Future enrollment in expansion cohorts is planned, highlighting the potential for addressing unmet medical needs in cancer therapy.
Compugen Ltd. (Nasdaq: CGEN) announced new translational data supporting the role of PVRIG as a differentiated checkpoint in cancer immunotherapy during the SITC 2021 conference. Preliminary findings indicate that PVRIG may enhance interactions between stem-like memory T cells and dendritic cells, potentially improving T cell proliferation and tumor infiltration compared to other checkpoints like TIGIT and PD-1. The presentation highlighted significant expressions of PVRIG and its ligand PVRL2, suggesting a promising therapeutic avenue for treating solid tumors.
Compugen Ltd. (CGEN) reported preliminary results from its Phase 1 dose escalation study of COM902, an anti-TIGIT antibody, for patients with advanced solid tumors, during the 36th Annual Meeting of the Society for Immunotherapy of Cancer. The study involved 18 heavily pretreated patients, achieving a 50% disease control rate. COM902 was well tolerated, with no maximum tolerated dose reached. The recommended dose for expansion is 3 mg/kg IV Q3W. Future studies will combine COM902 with COM701 to explore new therapeutic options.
Compugen Ltd. (Nasdaq: CGEN) announced a significant collaboration expansion with Bristol Myers Squibb (NYSE: BMY), which completed a $20 million investment in Compugen. This investment involved purchasing 2,332,815 shares at $8.57333 each, a 33% premium over the November 9, 2021 closing price. A new joint steering committee will oversee programs under the collaboration, aiming to advance clinical studies. Compugen's lead candidate, COM701, targets immune checkpoints in cancer therapy, showcasing its potential to enhance T cell activation in tumor environments.
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