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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) (TASE: CGEN), a clinical-stage cancer immunotherapy company and pioneer in computational target discovery, has announced the upcoming release of its second quarter 2024 financial results. The results will be disclosed on Tuesday, August 6, 2024, before the U.S. financial markets open. Following the release, the company's management will host a conference call and webcast at 8:30 AM ET to review the results and provide a corporate update.
Investors and interested parties can access the live conference call by dialing 1-866-744-5399 from the U.S. or +972-3-918-0644 internationally. Additionally, a live webcast will be available through Compugen's website. For those unable to attend the live event, a replay will be made available on the company's website following the webcast.
Compugen (Nasdaq: CGEN), a clinical-stage cancer immunotherapy company, announced that its SVP of Preclinical Development and Corporate Operations, Pierre Ferré, Ph.D, will present at the 12th Antibody Industrial Symposium in Montpellier, France, on June 21, 2024. The presentation will focus on a case study regarding clinical dose selection for TIGIT monospecific and bispecific antibodies. This event is an important platform for discussing advancements in antibody research and development.
Compugen has announced that it will receive a $5 million milestone payment from AstraZeneca following the dosing of the first patient in the Phase 3 TROPION-Lung10 trial. This trial evaluates the efficacy and safety of rilvegostomig, a PD-1/TIGIT bispecific antibody, as monotherapy and in combination with datopotamab deruxtecan for first-line treatment of non-squamous non-small cell lung cancer patients with high PD-L1 expression. The trial is expected to enroll approximately 675 patients across 14 countries. This milestone is part of Compugen's strategy to expand its pipeline through partnerships, following a previous $10 million payment related to the ARTEMIDE-Biliary01 Phase 3 trial.
Compugen (Nasdaq: CGEN) reported its Q1 2024 financials, highlighting key clinical advancements and financials. The company completed enrollment for its COM701 + COM902 + pembrolizumab study in platinum-resistant ovarian cancer, with data expected in Q4 2024. Data from its study on MSS CRC with liver metastases will be presented at ASCO 2024. Plans to file an IND for COM503 in H2 2024 are on track. Compugen's partner, AstraZeneca, advanced rilvegostomig to a second Phase 3 trial in NSCLC.
Financially, Compugen had $101.3 million in cash as of Mar 31, 2024, up from $51.1 million at the end of 2023, bolstered by payments from Gilead and AstraZeneca. The company reported $2.6 million in revenue for Q1 2024 and reduced net loss to $7.3 million, compared to $9.3 million in Q1 2023. R&D and G&A expenses also saw a decline. The cash runway is expected to fund operations into 2027.
Compugen has published a peer-reviewed paper in Cancer Immunology Research, highlighting the unique biology of PVRIG and its therapeutic potential. PVRIG, discovered by Compugen, is expressed on stem-like T cells in dendritic cell-rich niches in tumors. The study shows that blocking PVRIG, combined with anti-TIGIT and anti-PD-1 therapies, can induce immune infiltration in non-inflamed tumors, potentially overcoming resistance to immunotherapy. Phase 1 trials of COM701, an antibody targeting PVRIG, demonstrated durable clinical responses and a favorable safety profile in typically non-responsive cancer types.
Compugen has appointed David Silberman as its new Chief Financial Officer, effective August 15, 2024, succeeding Alberto Sessa. Silberman joins from Oramed Pharmaceuticals, bringing over 15 years of finance experience, including 10 years in the healthcare and biotech industries. He has held strategic roles at Teva Pharmaceutical Industries and Grant Thornton Fahn Kanne Control Management. Compugen's CEO, Anat Cohen-Dayag, expressed confidence in Silberman's ability to drive value for shareholders and patients. Silberman is enthusiastic about joining at a time of significant growth potential, citing Compugen's innovative assets and strategic partnerships.
Compugen (Nasdaq: CGEN) will release its first quarter 2024 financial results on May 20, 2024. The company, focusing on cancer immunotherapy and computational target discovery, will host a conference call to review the results and provide a corporate update.
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