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) 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.
Compugen Ltd. (Nasdaq: CGEN) announced new clinical data presentations for COM701 and its combinations at the ESMO-IO congress from December 7-9, 2022, in Geneva. Key presentations include findings on the triple blockade of the DNAM-axis in platinum-resistant ovarian cancer, and COM701's use in metastatic NSCLC patients previously treated with PD-1/PD-L1 inhibitors. These results aim to highlight the antitumor activity of Compugen's therapeutic candidates, advancing their immuno-oncology pipeline.
Compugen Ltd. (Nasdaq: CGEN) announced its participation in the 37th Annual Meeting of the Society for Immunotherapy of Cancer (SITC) on November 10-12, 2022, in Boston, MA. The company will present new clinical data from the COM701/nivolumab cohort expansion study for metastatic MSS-CRC, highlighting preliminary antitumor activity. Additionally, research on PVRIG, a novel T cell checkpoint, will be presented. Presentation details include two oral sessions on November 10 and 11, featuring abstract numbers 659 and 504, respectively. More information will be available on Compugen's website post-event.
Compugen Ltd. (CGEN) provided an update to shareholders on September 22, 2022, highlighting strong fundamentals despite market challenges. The company is prioritizing indications with the highest chance of success and has sufficient cash flow to operate into 2024. Data shows promising anti-tumor activity for COM701 in ovarian cancer and upcoming data for COM701/nivolumab in MSS-CRC by Q4 2022. Compugen announced a strategic focus on triple combinations in its pipeline, including COM701 and COM902, while maintaining a solid balance sheet with no debt.
Compugen Ltd. (Nasdaq: CGEN) has appointed Alberto Sessa as the new Chief Financial Officer (CFO), effective November 1, 2022. Sessa brings over 30 years of experience in finance, including roles in leading financing, investor relations, and business development. His previous positions include acting CFO at several startups and CFO at Allot, where he contributed to the company's growth. This leadership change aims to bolster Compugen's strategic ambitions and enhance stakeholder value as the company accelerates its cancer immunotherapy pipeline.
Compugen Ltd. (Nasdaq: CGEN) has announced that Yaron Turpaz, Ph.D., Senior Vice President and Senior Advisor, will speak at the Fierce Biotech Summit on September 20, 2022, in Boston. The panel discussion will focus on leveraging artificial intelligence (AI) and machine learning (ML) to enhance drug discovery and development. Compugen specializes in cancer immunotherapy and has developed two proprietary product candidates: COM701 and COM902. Additional details about the event can be found here.
Compugen Ltd. (CGEN) announced the Japan Patent Office granted a new patent for its anti-PVRIG antibody, COM701, which expands its intellectual property coverage to include Japan. The patent, No. 2017-562952, safeguards COM701's composition and use, enhancing its existing patents in the U.S. and Europe. This strategic move is aimed at solidifying the company's position in the competitive cancer immunotherapy market. With a patent expiration date set for no earlier than 2036, Compugen is poised to leverage this protection as it advances its innovative pipeline.
Compugen Ltd. (NASDAQ: CGEN) announced the granting of a new patent from the European Patent Office for anti-PVRIG antibodies aimed at cancer treatment. The patent, European Patent No. 3 653 221, secures broad protection for the use of COM701, expanding its application to any anti-PVRIG antibody that activates T and NK cells. The patent is set to expire no earlier than February 2036. This strategic move enhances Compugen’s position in the competitive cancer immunotherapy market and supports its ongoing clinical programs targeting multiple immune checkpoints.
Compugen Ltd. (CGEN) announced a strategic shift, prioritizing microsatellite stable-colorectal cancer (MSS-CRC) and non-small cell lung cancer (NSCLC) for development. The company will wind down its Phase 1 cohort expansion studies and conclude its collaboration with Bristol Myers Squibb. Compugen anticipates extending its cash runway through the end of 2024, with approximately $97 million in available cash. R&D expenses remain stable, with a net loss of approximately $9.1 million reported for Q2 2022. The company aims to present further data and study designs in Q4 2022.
Compugen Ltd. (Nasdaq: CGEN) will announce its second quarter financial results on August 4, 2022, before U.S. markets open. A conference call and webcast will take place at 8:30 AM ET for management to discuss the results and provide corporate updates. Compugen is a clinical-stage cancer immunotherapy company focused on computational target discovery, featuring proprietary drug candidates like COM701 and COM902, both in Phase 1 trials. Their partnership with Bayer and AstraZeneca also highlights their innovative drug development.
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