CGEN Compugen Ltd.

16.09
+0.58  (+4%)
Previous Close 15.51
Open 15.54
52 Week Low 3.8276
52 Week High 19.9
Market Cap $1,330,549,823
Shares 82,694,209
Float 57,283,226
Enterprise Value $1,161,394,149
Volume 1,703,902
Av. Daily Volume 1,690,978
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Upcoming Catalysts

Drug Stage Catalyst Date
COM701 and Opdivo
Solid tumors
Phase 1
Phase 1
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COM902
Advanced cancer
Phase 1
Phase 1
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Drug Pipeline

Drug Stage Notes
COM701, Opdivo and BMS-986207
Solid tumors
Phase 1/2
Phase 1/2
Phase 1/2 initiation of dosing announced September 8, 2020.
BAY 1905254
Solid tumors
Phase 1
Phase 1
Phase 1 trial initiated September 2018.

Latest News

  1. HOLON, Israel, Sept. 8, 2020 /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, today announced that the first patient has been dosed in the Phase 1/2 study evaluating the triple combination of COM701, Compugen's first-in-class anti-PVRIG antibody, with Bristol Myers Squibb's PD-1 immune checkpoint inhibitor, Opdivo® (nivolumab), and their investigational anti-TIGIT antibody, BMS-986207.

    The triple combination study is designed to evaluate the simultaneous blockade of three immune checkpoint pathways, PVRIG, TIGIT and PD-1, and will accelerate the clinical evaluation of Compugen's DNAM axis hypothesis and biomarker strategy in patients with advanced solid tumors…

    HOLON, Israel, Sept. 8, 2020 /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, today announced that the first patient has been dosed in the Phase 1/2 study evaluating the triple combination of COM701, Compugen's first-in-class anti-PVRIG antibody, with Bristol Myers Squibb's PD-1 immune checkpoint inhibitor, Opdivo® (nivolumab), and their investigational anti-TIGIT antibody, BMS-986207.

    The triple combination study is designed to evaluate the simultaneous blockade of three immune checkpoint pathways, PVRIG, TIGIT and PD-1, and will accelerate the clinical evaluation of Compugen's DNAM axis hypothesis and biomarker strategy in patients with advanced solid tumors, including those who are refractory or unresponsive to standard-of-care immune checkpoint inhibitors. Compugen's DNAM axis hypothesis suggests that PVRIG and TIGIT are two parallel and complementary inhibitory pathways in the axis and that blocking both PVRIG and TIGIT may be required in certain tumor types in order to generate or enhance an anti-tumor immune response.

    "Dosing the first patient in this triple combination study propels our clinical development plan for COM701 forward, continuing our rapid execution in investigating what we believe is a foundational axis in immuno-oncology," said Anat Cohen-Dayag, Ph.D., President and CEO of Compugen. "The science we have elucidated behind this axis, combined with the preliminary antitumor activity observed in our Phase 1 COM701 study, suggest that our highly differentiated clinical path of targeting PVRIG simultaneously with TIGIT and PD-1 blockers has the potential to expand cancer immunotherapy treatment options to new patient populations."

    Dr. Cohen-Dayag added, "We are thrilled to have Bristol Myers Squibb as our partner in this study and are very pleased with their continued support and commitment to our collaboration."  

    Henry Adewoye, M.D., Senior Vice President and Chief Medical Officer, said, "While immunotherapies have been transformative in oncology, the majority of cancer patients do not respond to immunotherapy or relapse with currently available treatments. Our expectation is that inhibiting PVRIG and TIGIT, two distinct inhibitory checkpoints in the DNAM axis, together with PD-1, has the potential to translate to clinical benefit for patients by increasing response rates and durability of responses, thereby expanding the reach of this important class of drugs. We are highly encouraged by the durable partial responses observed in the monotherapy and dual combination dose escalation arms of our study evaluating COM701 and thus look forward to the results of this ongoing trial."     

    The open-label Phase 1/2 trial is designed to evaluate the safety, tolerability and preliminary antitumor activity of COM701 in combination with Opdivo® and BMS-986207 during dose escalation as well as preliminary antitumor activity in tumor types selected for expansion in a biomarker-driven approach (to initially include ovarian cancer, endometrial cancer and a biomarker-driven arm of tumor types with high expression of PVRL2). An investigation of the contribution of the component parts of the triplet will be enabled in the context of the ovarian expansion cohort. Dose levels for Opdivo® and BMS-986207 combinations have already been determined through prior testing by Bristol Myers Squibb, allowing for dose escalation of COM701 with fixed doses of Opdivo® and BMS-986207. The study will initially enroll approximately 100 patients.

    About COM701

    COM701 is a humanized antibody that binds with high affinity to PVRIG, a novel immune checkpoint discovered computationally by Compugen, and blocks the interaction with its ligand, PVRL2. TIGIT, an immune checkpoint discovered computationally by Compugen in 2009, and PVRIG constitute parallel immune checkpoint pathways that counteract DNAM, a costimulatory receptor on T cells and NK cells. Preclinical data suggest that the blockade of PVRIG induces a robust anti-tumor immune response and demonstrates synergistic activity when used in combination with inhibitors of TIGIT and/or PD-1. Currently, COM701 is being evaluated in a Phase 1 clinical study. Data from the ongoing study have shown that COM701 is well-tolerated and demonstrated preliminary signals of anti-tumor activity in a heavily pretreated patient population. 

    About Compugen

    Compugen is a clinical-stage therapeutic discovery and development company utilizing its broadly applicable, predictive computational discovery platforms to identify novel drug targets and develop therapeutics in the field of cancer immunotherapy. The Company's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing a Phase 1 clinical study. In addition, COM902, Compugen's antibody targeting TIGIT, is in a Phase 1 clinical study. The Company's therapeutic pipeline also includes early stage immuno-oncology programs focused largely on myeloid targets. The Company is headquartered in Israel, with offices in South San Francisco, CA. Compugen's shares are listed on the Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN. For additional information, please visit Compugen's corporate website at www.cgen.com.

    Forward-Looking Statement

    This press release contains "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Compugen. Forward-looking statements can be identified by the use of terminology such as "will," "may," "expects," "anticipates," "believes," "potential," "plan," "goal," "estimate," "likely," "should," "confident," and "intends," and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include, but are not limited to, statements that suggest that Compugen's highly differentiated clinical path of targeting PVRIG simultaneously with TIGIT and PD-1 blockers has the potential to expand cancer immunotherapy treatment options to new patient populations, statements regarding Compugen's expectation that inhibiting PVRIG and TIGIT, two distinct inhibitory checkpoints in the DNAM axis, together with PD-1, has the potential to translate to a clinical benefit for patients by increasing response rates and durability of responses, thereby expanding the reach of this important class of drugs and statements about the plans for the open-label Phase 1/2 trial, including the cancer types and that the study will initially enroll approximately 100 patients. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Compugen to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Among these risks: Compugen's operations could be affected by the outbreak and spread of COVID-19, clinical development involves a lengthy and expensive process, with an uncertain outcome and Compugen may encounter substantial delays or even an inability to begin clinical trials for any specific product, or may not be able to conduct or complete its trials on the timelines it expects; Compugen relies, and expects to continue to rely, on third parties to conduct its clinical trials and if these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines (including as a result of the effect of the COVID-19), Compugen may experience significant delays in the conduct of its clinical trials; Compugen's approach to the discovery of therapeutic products is based on its proprietary computational target discovery infrastructure, which is unproven clinically; Compugen does not know whether it will be able to discover and develop additional potential product candidates or products of commercial value; Compugen's business model is substantially dependent on entering into collaboration agreements with third parties; and Compugen may not be successful in generating adequate revenues or commercializing aspects of its business model. These risks and other risks are more fully discussed in the "Risk Factors" section of Compugen's most recent Annual Report on Form 20-F as filed with the Securities and Exchange Commission (SEC) as well as other documents that may be subsequently filed by Compugen from time to time with the SEC. In addition, any forward-looking statements represent Compugen's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Compugen does not assume any obligation to update any forward-looking statements unless required by law. 

    Company contact:

    Elana Holzman

    Director, Investor Relations and Corporate Communications

    Compugen Ltd.

    Email:

    Tel: +972 (3) 765-8124

    Investor Relations contact:

    Bob Yedid

    LifeSci Advisors, LLC

    Email:    

    Tel: +1 (646) 597-6989

    Media contact:

    Josephine Belluardo, Ph.D.

    LifeSci Communications 

    Email:

    Tel: +1 (646) 751-4361

     

     

    Cision View original content:http://www.prnewswire.com/news-releases/compugen-doses-first-patient-in-phase-12-triple-combination-study-of-com701-with-bristol-myers-squibbs-opdivo-and-anti-tigit-antibody-301125351.html

    SOURCE Compugen Ltd.

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  2. HOLON, Israel, Sept. 3, 2020 /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a leader in predictive discovery and development of first-in-class therapeutics for cancer immunotherapy, today announced that management will present at the following upcoming virtual investor conferences:

    Event: Morgan Stanley Virtual 18th Annual Global Healthcare Conference
    Date: Wednesday, September 16, 2020
    Presentation Time: 9:30 AM ET

    Event: Oppenheimer Fall Healthcare Life Sciences & MedTech Summit
    Date: Tuesday, September 22, 2020
    Presentation Time: 9:10 AM ET

    A live webcast of each presentation will be accessible in the Investor Relations section of the Compugen website at www.cgen.com. Replays will also be available following each live event.

    About Compugen

    HOLON, Israel, Sept. 3, 2020 /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a leader in predictive discovery and development of first-in-class therapeutics for cancer immunotherapy, today announced that management will present at the following upcoming virtual investor conferences:

    Event: Morgan Stanley Virtual 18th Annual Global Healthcare Conference

    Date: Wednesday, September 16, 2020

    Presentation Time: 9:30 AM ET

    Event: Oppenheimer Fall Healthcare Life Sciences & MedTech Summit

    Date: Tuesday, September 22, 2020

    Presentation Time: 9:10 AM ET

    A live webcast of each presentation will be accessible in the Investor Relations section of the Compugen website at www.cgen.com. Replays will also be available following each live event.

    About Compugen

    Compugen is a clinical-stage therapeutic discovery and development company utilizing its broadly applicable, predictive computational discovery platforms to identify novel drug targets and develop therapeutics in the field of cancer immunotherapy. The Company's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing a Phase 1 clinical study. In addition, COM902, Compugen's antibody targeting TIGIT, is in a Phase 1 clinical study. The Company's therapeutic pipeline also includes early stage immuno-oncology programs focused largely on myeloid targets. Compugen is headquartered in Israel, with offices in South San Francisco, CA. The Company's shares are listed on the Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN. For additional information, please visit Compugen's corporate website at www.cgen.com.

    Company contact:

    Elana Holzman

    Director, Investor Relations and Corporate Communications

    Compugen Ltd.

    Email:

    Tel: +972 (3) 765-8124

    Investor Relations contact:

    Bob Yedid

    LifeSci Advisors, LLC

    Email:  

    Tel: +1 (646) 597-6989

    Media contact:

    Josephine Belluardo, Ph.D.

    LifeSci Communications

    Email:

    Tel: +1 (646) 751-4361

    Cision View original content:http://www.prnewswire.com/news-releases/compugen-to-present-at-upcoming-september-2020-investor-conferences-301123707.html

    SOURCE Compugen Ltd.

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  3. HOLON, Israel, Aug. 28, 2020 /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a clinical-stage cancer immunotherapy company and leader in predictive target discovery, announced today that the United States Patent and Trademark Office (USPTO) has granted a new patent covering the composition of matter of COM902, its immuno-oncology therapeutic antibody targeting TIGIT.  

    U.S. Patent No. 10,751,415, titled "Anti-TIGIT Antibodies, Anti-PVRIG Antibodies and Combinations Thereof," relates to the composition of matter of COM902, alone or in combination with a second antibody targeting an immune checkpoint, including PD-1 and PVRIG (specifically COM701). This patent is expected to expire no earlier than August 2037 in the United States.

    This patent expands…

    HOLON, Israel, Aug. 28, 2020 /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a clinical-stage cancer immunotherapy company and leader in predictive target discovery, announced today that the United States Patent and Trademark Office (USPTO) has granted a new patent covering the composition of matter of COM902, its immuno-oncology therapeutic antibody targeting TIGIT.  

    U.S. Patent No. 10,751,415, titled "Anti-TIGIT Antibodies, Anti-PVRIG Antibodies and Combinations Thereof," relates to the composition of matter of COM902, alone or in combination with a second antibody targeting an immune checkpoint, including PD-1 and PVRIG (specifically COM701). This patent is expected to expire no earlier than August 2037 in the United States.

    This patent expands intellectual property protection for COM902 in the United States, for which a patent was previously issued in November 2018, relating to the method of use of COM902 for activating T cells in cancer patients, in addition to claims covering the combination of COM902 and COM701 for activating T cells in cancer patients. Similar to this new U.S. patent,  in November 2019, Compugen was also granted a European patent relating to the composition of matter of COM902, alone or in combination with a second antibody targeting an immune checkpoint, including PD-1 and PVRIG (specifically COM701), as well as for use in treating cancer by activating T cells.

    About COM902

    COM902 is a high affinity, fully human antibody that blocks the interaction of TIGIT with PVR, its ligand, and consequently enhances T cell function. It is currently being evaluated in a Phase 1 clinical trial in patients with advanced malignancies who have exhausted all available standard therapies. Compugen has demonstrated in preclinical studies that simultaneous inhibition of TIGIT and PVRIG, the two coinhibitory arms of the DNAM axis, can increase antitumor immune responses, which may be further enhanced with the addition of PD-1 blockade. These data suggest that treatment with COM701 and COM902, targeting PVRIG and TIGIT, respectively, alone or in combination with a PD-1 inhibitor, has the potential to expand immuno-oncology treatment to patient populations who are non-responsive or refractory to existing immunotherapies.

    The discovery of TIGIT, using the Company's computational discovery platform, was published by Compugen in October 2009 in the Proceedings of the National Academy of Sciences (PNAS).

    About Compugen

    Compugen is a clinical-stage therapeutic discovery and development company utilizing its broadly applicable, predictive computational discovery platforms to identify novel drug targets and develop therapeutics in the field of cancer immunotherapy. The Company's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing a Phase 1 clinical study. In addition, COM902, Compugen's antibody targeting TIGIT, is in a Phase 1 clinical study. The Company's therapeutic pipeline also includes early stage immuno-oncology programs focused largely on myeloid targets. Compugen is headquartered in Israel, with offices in South San Francisco, CA. The Company's shares are listed on the Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN. For additional information, please visit Compugen's corporate website at www.cgen.com

    Forward-Looking Statement

    This press release contains "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Compugen. Forward-looking statements can be identified by the use of terminology such as "will," "may," "expects," "anticipates," "believes," "potential," "plan," "goal," "estimate," "likely," "should," "confident," and "intends," and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include, but are not limited to, statements regarding the expected expiration date of the patent in the United States. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Compugen to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Among these risks: Compugen's operations could be affected by the outbreak and spread of COVID-19, clinical development involves a lengthy and expensive process, with an uncertain outcome and Compugen may encounter substantial delays or even an inability to begin clinical trials for any specific product, or may not be able to conduct or complete its trials on the timelines it expects; Compugen relies, and expects to continue to rely, on third parties to conduct its clinical trials and if these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines (including as a result of the effect of the COVID-19); Compugen's business model is substantially dependent on entering into collaboration agreements with third parties; Compugen may not be successful in generating adequate revenues or commercializing aspects of its business model; and patent reform and other legislative changes in certain territories may affect Compugen's ability to obtain and enforce its patents. These risks and other risks are more fully discussed in the "Risk Factors" section of Compugen's most recent Annual Report on Form 20-F as filed with the Securities and Exchange Commission (SEC) as well as other documents that may be subsequently filed by Compugen from time to time with the SEC. In addition, any forward-looking statements represent Compugen's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Compugen does not assume any obligation to update any forward-looking statements unless required by law.

    Company contact:

    Elana Holzman

    Director, Investor Relations and Corporate Communications

    Compugen Ltd.

    Email:

    Tel: +972 (3) 765-8124

    Investor Relations contact:

    Bob Yedid

    LifeSci Advisors, LLC

    Email:  

    Tel: +1 (646) 597-6989

    Media contact:

    Josephine Belluardo, Ph.D.

    LifeSci Communications

    Email:

    Tel: +1 (646) 751-4361

     

    Cision View original content:http://www.prnewswire.com/news-releases/compugen-expands-patent-portfolio-for-tigit-inhibitor-com902-with-new-us-composition-of-matter-patent-301120274.html

    SOURCE Compugen Ltd.

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  4. HOLON, Israel, July 30, 2020 /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, today reported financial results for the second quarter ended June 30, 2020.

    "We have reached an exciting phase of development at Compugen, rapidly advancing the clinical evaluation of our DNAM axis hypothesis, suggesting that PVRIG and TIGIT are two parallel and complementary inhibitory pathways in the axis and that blocking both PVRIG and TIGIT may be required in certain tumor types in order to generate or enhance an anti-tumor immune response. Furthermore, these two pathways intersect with the PD-1 pathway and as such, the simultaneous blockade of the three pathways may synergistically…

    HOLON, Israel, July 30, 2020 /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, today reported financial results for the second quarter ended June 30, 2020.

    "We have reached an exciting phase of development at Compugen, rapidly advancing the clinical evaluation of our DNAM axis hypothesis, suggesting that PVRIG and TIGIT are two parallel and complementary inhibitory pathways in the axis and that blocking both PVRIG and TIGIT may be required in certain tumor types in order to generate or enhance an anti-tumor immune response. Furthermore, these two pathways intersect with the PD-1 pathway and as such, the simultaneous blockade of the three pathways may synergistically enhance anti-tumor immune responses in patient populations where the three are dominant," said Anat Cohen-Dayag, Ph.D., President and CEO of Compugen. "When we first introduced this hypothesis a few years ago, of the three targets, only PD-1 was clinically validated. Remarkably, in the past few quarters, we have shown preliminary signs of clinical activity of PVRIG blockade and more recently clinical validation of TIGIT blockade was presented by others. We believe that this data further confirms our preclinical work and increases our confidence in our hypothesis and the clinical path we are pursuing."

    Dr. Cohen-Dayag added, "We are pleased with the progress we are making in advancing the evaluation of our clinical candidates in monotherapy and combination regimens. We are currently enrolling patients in our COM701 Phase 1 monotherapy expansion study, which leverages a biomarker-informed strategy to focus on tumor types where, we believe, the PVRIG/PVRL2 pathway may play a role. In addition, we completed enrollment in the dual combination dose escalation study of COM701 with Opdivo® and plan to provide updated data from this study in the first half of 2021, when we also expect to provide initial results from the COM701 Phase 1 monotherapy expansion study. Furthermore, we are on-track to begin our Phase 1/2 triple combination study testing COM701 with Bristol Myers Squibb's Opdivo® and their investigational TIGIT inhibitor, at the second half of this year, to directly test our DNAM axis hypothesis through the simultaneous blockade of the PVRIG, TIGIT and PD-1 pathways."

    "We remain focused on executing our science-driven clinical strategy to, hopefully, broaden the therapeutic potential of checkpoint inhibitors for the benefit of patient populations non-responsive to cancer immunotherapy. As the only company with wholly-owned clinical programs targeting both PVRIG and TIGIT, we are uniquely differentiated in the crowded immuno-oncology space," Dr. Cohen-Dayag concluded.

    Second Quarter 2020 and Recent Highlights 

    • Announced FDA clearance of IND application for Phase 1/2 triple combination study of COM701 with Bristol Myers Squibb's Opdivo® (nivolumab) and TIGIT inhibitor.

          -   Designed to evaluate the simultaneous blockade of three immune checkpoint pathways, PVRIG, TIGIT and PD-1.

          -   Complementary to the Company's clinical strategy, the study will accelerate clinical evaluation of Compugen's DNAM axis hypothesis and biomarker-driven approach in advanced solid tumors to broaden the patient population responsive to cancer immunotherapy.

          -   Initiation of triple combination study remains on-track to begin during 2H 2020
    • Dosed the first patient in the monotherapy expansion cohort in the ongoing Phase 1 clinical trial of COM701.
    • Presented updated data from the dose escalation arms of the Phase 1 trial of COM701 in patients with advanced solid tumors at the 2020 American Association for Cancer Research (AACR) Virtual Annual Meeting I (highlights):

          -   COM701 was well-tolerated through 20 mg/kg IV Q4 weeks as a monotherapy and 10 mg/kg IV Q4 weeks in combination with Opdivo® (480 mg IV Q4 weeks) with no dose-limiting toxicities reported.

          -   Encouraging disease control rates of 69% (11/16) for monotherapy and 75% (9/12) for the combination arm.

                     -   50% of patients (6/12) in the combination arm remain on study, some with continued responses observed beyond 200 days of treatment.

          -   Durable responses of stable disease for over six months in six of 28 patients (21%) across treatment arms.

          -   Two confirmed partial responses, one from the monotherapy arm (microsatellite stable primary peritoneal cancer) and one from the combination arm (microsatellite stable colorectal cancer); both patients remained on treatment at the presentation date.
    • Dosed the first patient in a Phase 1 dose escalation clinical trial of COM902, an immuno-oncology therapeutic antibody targeting TIGIT, in patients with advanced malignancies.
    • Granted EPO Patent No. 3295951, covering the composition of matter for COM701 and backup antibodies including any anti-PVRIG antibody having the binding fragments of COM701 or backup antibodies for the treatment of cancer.
    • Published a peer-reviewed paper in Cancer Immunology Research in collaboration with Bayer, demonstrating in vitro T cell activation and in vivo anti-tumor activity of BAY 1905254, a first-in-class immuno-oncology antibody targeting ILDR2. ILDR2 is a novel immune checkpoint discovered computationally by Compugen which is currently being evaluated by Bayer in a Phase 1 study as monotherapy and in combination with Keytruda®.

    Financial Results

    Research and development expenses for the second quarter ended June 30, 2020 were $4.4 million, compared with $4.9 million in the comparable quarter in 2019. The decrease was primarily due to cost reduction measures announced by the Company in the first quarter of 2019, offset by an increase in expenses associated with our various Phase 1 clinical studies.

    Net loss for the second quarter of 2020 was $6.2 million, or $0.08 per basic and diluted share, compared with a net loss of $6.0 million, or $0.10 per basic and diluted share, in the comparable quarter of 2019.

    As of June 30, 2020, cash, cash related accountsand short-term and long-term bank deposits totaled approximately $136 million, compared with approximately $44 million as of December 31, 2019.

    Conference Call and Webcast Information

    The Company will hold a conference call today, July 30, 2020, at 8:30 AM ET to review its second quarter 2020 results. To access the conference call by telephone, please dial 1-888-407-2553 from the United States, or +972-3-918-0610 internationally. The call will also be available via live webcast through Compugen's website, located at the following link. Following the live audio webcast, a replay will be available on the Company's website.

    (Tables to follow)

    About Compugen

    Compugen is a clinical-stage therapeutic discovery and development company utilizing its broadly applicable, predictive computational discovery platforms to identify novel drug targets and develop therapeutics in the field of cancer immunotherapy. The Company's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing a Phase 1 clinical study. In addition, COM902, Compugen's antibody targeting TIGIT, is in a Phase 1 clinical study. The Company's therapeutic pipeline also includes early stage immuno-oncology programs focused largely on myeloid targets. The Company is headquartered in Israel, with offices in South San Francisco, CA. Compugen's shares are listed on the Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN. For additional information, please visit Compugen's corporate website at www.cgen.com.

    Forward-Looking Statement

    This press release contains "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Compugen. Forward-looking statements can be identified by the use of terminology such as "will," "may," "expects," "anticipates," "believes," "potential," "plan," "goal," "estimate," "likely," "should," "confident," and "intends," and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include, but are not limited to, statements regarding the expected timeline to provide data from the dose escalation study of COM701 with Opdivo® and from the COM701 Phase 1 monotherapy expansion study in the first half of 2021 and the expected timeline to begin the Phase 1/2 triple combination study testing COM701 with Bristol Myers Squibb's Opdivo® and their investigational TIGIT inhibitor. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Compugen to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Among these risks: Compugen's operations could be affected by the outbreak and spread of COVID19, clinical development involves a lengthy and expensive process, with an uncertain outcome and Compugen may encounter substantial delays or even an inability to begin clinical trials for any specific product, or may not be able to conduct or complete its trials on the timelines it expects; Compugen relies, and expects to continue to rely, on third parties to conduct its clinical trials and if these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines (including as a result of the effect of the COVID-19), Compugen may experience significant delays in the conduct of its clinical trials; Compugen's approach to the discovery of therapeutic products is based on its proprietary computational target discovery infrastructure, which is unproven clinically; Compugen does not know whether it will be able to discover and develop additional potential product candidates or products of commercial value; Compugen's business model is substantially dependent on entering into collaboration agreements with third parties; and Compugen may not be successful in generating adequate revenues or commercializing aspects of its business model. These risks and other risks are more fully discussed in the "Risk Factors" section of Compugen's most recent Annual Report on Form 20-F as filed with the Securities and Exchange Commission (SEC) as well as other documents that may be subsequently filed by Compugen from time to time with the SEC. In addition, any forward-looking statements represent Compugen's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Compugen does not assume any obligation to update any forward-looking statements unless required by law.

    Company contact:

    Elana Holzman

    Director, Investor Relations and Corporate Communications

    Compugen Ltd.

    Email:

    Tel: +972-(3)-765-8124

    Investor Relations contact:

    Bob Yedid

    LifeSci Advisors, LLC

    Email:

    Tel: +1-(646)-597-6989

    Media contact:

    Josephine Belluardo, Ph.D.

    LifeSci Communications

    Email:

    Tel: +1-(646)-751-4361

     

    COMPUGEN LTD.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (U.S. dollars in thousands, except for share and per share amounts)







    Three Months Ended



    Six Months Ended,



    June 30,



    June 30,



    2020



    2019



    2020



    2019



    Unaudited



    Unaudited



    Unaudited



    Unaudited



    Operating expenses



    Research and development expenses

    4,447



    4,870



    9,159



    11,205

    Marketing and business development expenses

    204



    175



    414



    388

    General and administrative expenses

    2,131



    1,962



    4,607



    3,928

    Total operating expenses

    6,782



    7,007



    14,180



    15,521

    Financial and other income, net

    536



    308



    806



    414

    Loss before taxes on income

    (6,246)



    (6,699)



    (13,374)



    (15,107)

    Taxes on income

    -



    722



    -



    722

    Net loss

    (6,246)



    (5,977)



    (13,374)



    (14,385)



    Basic and diluted net loss per ordinary share

    (0.08)



    (0.10)



    (0.18)



    (0.24)

    Weighted average number of ordinary shares used in computing basic and diluted net loss per share

    81,273,240



    61,479,162



    75,774,881



    60,747,948



     

    COMPUGEN LTD.

    CONDENSED CONSOLIDATED BALANCE SHEETS DATA

    (U.S. dollars, in thousands)





    June 30,



    December 31,





    2020



    2019





    Unaudited











    ASSETS













    Current assets









    Cash, cash equivalents, short-term bank deposits and restricted cash

    136,066



    43,879



    Other accounts receivable and prepaid expenses

    1,088



    1,121



    Total current assets

    137,154



    45,000







    Non-current assets









    Long-term prepaid expenses

    1,219



    693



    Severance pay fund

    2,513



    2,485



    Operating lease right to use asset

    3,012



    3,247



    Property and equipment, net

    2,022



    2,338



    Total non-current assets

    8,766



    8,763







    Total assets

    145,920



    53,763











    LIABILITIES AND SHAREHOLDERS EQUITY













    Current liabilities









    Other accounts payable, accrued expenses and trade payables

    6,793



    5,445



    Current maturity of operating lease liability

    519



    600



    Short-term deferred participation in R&D expenses

    750



    774



    Total current liabilities

    8,062



    6,819







    Non-current liabilities









    Long-term deferred participation in R&D expenses

    2,421



    2,691



    Long-term operating lease liability

    2,788



    2,978



    Accrued severance pay

    3,182



    2,954



    Total non-current liabilities

    8,391



    8,623







    Total shareholders' equity

    129,467



    38,321







    Total liabilities and shareholders' equity

    145,920



    53,763





     

    Cision View original content:http://www.prnewswire.com/news-releases/compugen-reports-second-quarter-2020-results-301102937.html

    SOURCE Compugen Ltd.

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  5. HOLON, Israel, July 16, 2020 /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, announced today that the Company will release its second quarter 2020 financial results on Thursday, July 30, 2020 before the U.S. financial markets open. Management will host a conference call and webcast to review the results and provide a corporate update at 8:30 AM ET.

    To access the live conference call by telephone, please dial 1-888-407-2553 from the U.S.,
    or +972-3-918-0610 internationally. The call will also be available via live webcast through Compugen's website, located at the following link. Following the live audio webcast, a replay will be available on the…

    HOLON, Israel, July 16, 2020 /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, announced today that the Company will release its second quarter 2020 financial results on Thursday, July 30, 2020 before the U.S. financial markets open. Management will host a conference call and webcast to review the results and provide a corporate update at 8:30 AM ET.

    To access the live conference call by telephone, please dial 1-888-407-2553 from the U.S.,

    or +972-3-918-0610 internationally. The call will also be available via live webcast through Compugen's website, located at the following link. Following the live audio webcast, a replay will be available on the Company's website.

    About Compugen

    Compugen is a clinical-stage therapeutic discovery and development company utilizing its broadly applicable, predictive computational discovery platforms to identify novel drug targets and develop therapeutics in the field of cancer immunotherapy. The Company's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing a Phase 1 clinical study. In addition, COM902, Compugen's antibody targeting TIGIT, is in a Phase 1 clinical study. The Company's therapeutic pipeline also includes early stage immuno-oncology programs focused largely on myeloid targets. Compugen's business model is to selectively enter into collaborations for its novel targets and related drug product candidates at various stages of research and development. The Company is headquartered in Israel, with offices in South San Francisco, CA. Compugen's shares are listed on the Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN. For additional information, please visit Compugen's corporate website at www.cgen.com.

    Company contact:

    Elana Holzman

    Director, Investor Relations and Corporate Communications

    Compugen Ltd.

    Email:

    Tel: +972-(3)-765-8124

    Investor Relations contact:

    Bob Yedid

    LifeSci Advisors, LLC

    Email:

    Tel: +1-(646)-597-6989

    Media contact:

    Josephine Belluardo, Ph.D.

    LifeSci Communications

    Email:

    Tel: +1-(646)-751-4361

    Cision View original content:http://www.prnewswire.com/news-releases/compugen-to-release-second-quarter-2020-results-on-thursday-july-30-2020-301094676.html

    SOURCE Compugen Ltd.

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