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. (CGEN) reported encouraging results for its COM701 therapy combined with nivolumab ± BMS-986207 in heavily pretreated patients with platinum-resistant ovarian cancer. The study showed a 20% overall response rate and a disease control rate of 45%. Notably, three patients on triplet therapy have maintained responses for over nine months. The therapy demonstrated effectiveness across various cancer types, particularly in high-grade serous adenocarcinoma. Compugen plans to pursue further studies to enhance data supporting these findings.
Compugen Ltd. (CGEN) announced promising results for its COM701 treatment, combined with nivolumab and BMS-986207, showing a 20% overall response rate and 40% disease control rate in patients with platinum-resistant ovarian cancer. The data will be detailed at the ESMO Immuno-Oncology Congress on December 8, 2022. Management plans to discuss preliminary findings during an investor call on December 7, 2022. This treatment is crucial for patients lacking effective options.
Compugen Ltd. (NASDAQ: CGEN), a cancer immunotherapy firm, announced that CEO Anat Cohen-Dayag, Ph.D., will join a virtual fireside chat during the JMP Securities Hematology and Oncology Summit on December 6, 2022, at 10:20 am ET. Interested parties can access the live webcast on Compugen's Investor Relations site, with a replay available post-event. The company focuses on developing innovative cancer therapies, including its proprietary product candidates COM701 and COM902, among other early-stage immuno-oncology programs.
Compugen Ltd. (CGEN) announced a $7.5 million milestone payment from AstraZeneca following the initiation of the ARTEMIDE Phase 2 study for AZD2936, a PD-1/TIGIT bispecific antibody. This advancement reinforces confidence in Compugen's COM902 antibody, which is part of their collaboration with AstraZeneca. To date, Compugen has received a total of $18.5 million in payments from AstraZeneca, part of a potential $200 million milestone agreement for the development of bispecific products. The company aims to leverage this opportunity while continuing its focus on its own pipeline of cancer immunotherapies.
Compugen Ltd. (CGEN) reported preliminary clinical data at SITC 2022 highlighting the effectiveness of COM701 combined with nivolumab in metastatic MSS-CRC patients, achieving a 12% response rate. The company plans further clinical trials, including a triple combination with anti-PD-1 and COM902. Additionally, promising data from ovarian cancer cohorts will be presented at ESMO-IO. As of September 30, 2022, Compugen maintains a solid balance sheet with $88 million in cash, expected to last through 2024, despite a net loss of $11.7 million for Q3 2022.
Compugen Ltd. (NASDAQ: CGEN), a clinical-stage cancer immunotherapy company, announced its participation in the Stifel 2022 Healthcare Conference on November 15, 2022, at 9:10 am ET. CEO Anat Cohen-Dayag and other management team members will engage in a fireside chat during the event in New York City. A live webcast will be available on Compugen's Investor Relations website, with a replay accessible afterward. The company focuses on innovative drug targets for cancer treatment, with proprietary candidates like COM701 and COM902.
Compugen Ltd. (CGEN) announced promising data on COM701, an anti-PVRIG antibody, demonstrating anti-tumor activity in MSS-CRC patients resistant to usual checkpoint inhibitors. The study highlights significant immune activation within the tumor microenvironment, suggesting COM701's potential to enhance T cell responses when combined with nivolumab. Notable findings include PVRIG's expression on early differentiated stem-like memory T cells, potentially inhibiting T cell expansion in tumors. The data will be elaborated upon during a Q3 earnings call on November 14, 2022, following an oral presentation at SITC on November 11, 2022.
Compugen Ltd. (NASDAQ: CGEN) announced promising preliminary data on its drug COM701 in combination with nivolumab for treating metastatic MSS-CRC patients. The study shows a 12% overall response rate in patients with liver metastases, a significant improvement over historical rates of 0% for similar therapies. Translational data reveal strong immune activation in the tumor microenvironment, indicating a potential breakthrough for this typically non-responsive cancer. The company plans further clinical evaluations and will present detailed findings at the SITC meeting on November 10, 2022.
Compugen Ltd. (NASDAQ: CGEN) received a notification from Nasdaq on October 31, 2022, stating that its ordinary shares failed to maintain the minimum bid price of $1.00 for 30 consecutive business days, as required by Nasdaq Listing Rule 5450(a)(1). The company has a compliance period of 180 days, until May 1, 2023, to regain compliance. If the bid reaches $1.00 for 10 consecutive days before this date, compliance will be confirmed. Failure to comply may lead to delisting, but the company can appeal and possibly receive an additional grace period.
Compugen Ltd. (Nasdaq: CGEN) announced it will release its third quarter 2022 financial results on November 14, 2022, before U.S. market opening. Management will host a conference call at 8:30 AM ET to discuss the results and provide a corporate update, including data to be presented at the Society for Immunotherapy of Cancer meeting from November 8-12, 2022. Compugen focuses on cancer immunotherapy, developing products like COM701 and COM902, and has partnered with Bayer and AstraZeneca on other programs.
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