CGEN Compugen Ltd.

6.71
+0.57  (+9%)
Previous Close 6.14
Open 6.13
52 Week Low 5.76
52 Week High 18.91
Market Cap $563,089,304
Shares 83,917,929
Float 66,755,729
Enterprise Value $413,757,841
Volume 1,359,999
Av. Daily Volume 695,073
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Upcoming Catalysts

Drug Stage Catalyst Date
COM902
Advanced cancer
Phase 1
Phase 1
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COM701, OPDIVO (nivolumab) and BMS-986207
Solid tumors
Phase 1/2
Phase 1/2
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Drug Pipeline

Drug Stage Notes
AZD2936
Non-small cell lung cancer
Phase 1/2
Phase 1/2
Phase 1/2 trial to be initiated
COM701 and OPDIVO (nivolumab)
Solid tumors
Phase 1
Phase 1
Phase 1 data presented at ASCO June, 2021. Combo arm saw 2/15 overall responses (13.4%). 1/36 (2.7%) in monotherapy arm.
BAY 1905254
Solid tumors
Phase 1
Phase 1
Phase 1 trial initiated September 2018.

Latest News

  1. HOLON, Israel, Sept. 14, 2021 /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 Cantor Global Healthcare Conference on Thursday, September 30, 2021 at 1:20 pm ET.

    A live webcast of the presentation will be available on the Investor Relations section of Compugen's website at www.cgen.com. A replay will be available following the event.

    About Compugen  

    Compugen is a clinical-stage 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. Compugen's…

    HOLON, Israel, Sept. 14, 2021 /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 Cantor Global Healthcare Conference on Thursday, September 30, 2021 at 1:20 pm ET.

    A live webcast of the presentation will be available on the Investor Relations section of Compugen's website at www.cgen.com. A replay will be available following the event.

    About Compugen  

    Compugen is a clinical-stage 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. Compugen's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing Phase 1 studies as a single agent and in dual, and triple combination. COM902, Compugen's second fully owned clinical antibody targeting TIGIT, for the treatment of solid and hematological tumors, is undergoing Phase 1 studies as a single agent and in dual combination. Compugen'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. Compugen's shares are listed on 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:  

    Yvonne Naughton, PhD  

    Head of Investor Relations and Corporate Communications

    Email: ir@cgen.com  

    Tel: +1 (628) 241-0071  

    Investor Relations contact:

    John Mullaly

    LifeSci Advisors, LLC

    Email: jmullaly@lifesciadvisors.com  

    Tel: +1 (617) 429-3548

     

    Cision View original content:https://www.prnewswire.com/news-releases/compugen-to-present-at-the-cantor-global-healthcare-conference-301376160.html

    SOURCE Compugen Ltd.

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  2. HOLON, Israel, Aug. 26, 2021 /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 Morgan Stanley 19th Annual Global Healthcare Conference (virtual), on Thursday, September 9, 2021 at 11:00 am ET.

    A live webcast of the presentation will be available on the Investor Relations section of Compugen's website at www.cgen.com. A replay will be available following the live event.

    About Compugen  

    Compugen is a clinical-stage discovery and development company utilizing its broadly applicable, predictive computational discovery platforms to identify novel drug targets and develop therapeutics in the field…

    HOLON, Israel, Aug. 26, 2021 /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 Morgan Stanley 19th Annual Global Healthcare Conference (virtual), on Thursday, September 9, 2021 at 11:00 am ET.

    A live webcast of the presentation will be available on the Investor Relations section of Compugen's website at www.cgen.com. A replay will be available following the live event.

    About Compugen  

    Compugen is a clinical-stage 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. Compugen's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing Phase 1 studies as a single agent and in dual, and triple combination. COM902, Compugen's second fully owned clinical antibody targeting TIGIT, for the treatment of solid and hematological tumors, is undergoing Phase 1 studies as a single agent and in dual combination. Compugen'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. Compugen's shares are listed on 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:  

    Yvonne Naughton, PhD  

    Head of Investor Relations and Corporate Communications

    Email: ir@cgen.com  

    Tel: +1 (628) 241-0071  

    Investor Relations contact:

    John Mullaly

    LifeSci Advisors, LLC

    Email: jmullaly@lifesciadvisors.com  

    Tel: +1 (617) 429-3548

     

    Cision View original content:https://www.prnewswire.com/news-releases/compugen-to-present-at-the-morgan-stanley-19th-annual-global-healthcare-conference-301363440.html

    SOURCE Compugen Ltd.

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  3. HOLON, Israel, Aug. 19, 2021  /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a leader in predictive discovery and development of first-in-class therapeutics for cancer immunotherapy, today announced that a bispecific antibody of AstraZeneca derived from COM902, Compugen's high affinity anti-TIGIT antibody, will advance into clinical development. AstraZeneca (NASDAQ:AZN) plans to initiate a Phase 1/2 study evaluating AZD2936, a TIGIT/PD-1 bispecific antibody, in patients with advanced or metastatic non-small cell lung cancer.

    COM902 was licensed to AstraZeneca in 2018 exclusively for the development of bispecific and multi-specific antibody products, with AstraZeneca responsible for all research, development, and commercial activities. Compugen…

    HOLON, Israel, Aug. 19, 2021  /PRNewswire/ -- Compugen Ltd. (NASDAQ:CGEN), a leader in predictive discovery and development of first-in-class therapeutics for cancer immunotherapy, today announced that a bispecific antibody of AstraZeneca derived from COM902, Compugen's high affinity anti-TIGIT antibody, will advance into clinical development. AstraZeneca (NASDAQ:AZN) plans to initiate a Phase 1/2 study evaluating AZD2936, a TIGIT/PD-1 bispecific antibody, in patients with advanced or metastatic non-small cell lung cancer.

    COM902 was licensed to AstraZeneca in 2018 exclusively for the development of bispecific and multi-specific antibody products, with AstraZeneca responsible for all research, development, and commercial activities. Compugen retains all other rights to the program with exception to those licensed to AstraZeneca.

    "The advancement into the clinic of this bispecific derived from COM902 provides additional support for COM902's therapeutic potential by a global leader in the development of antibody-based oncology therapeutics," said Anat Cohen-Dayag, Ph.D., President and Chief Executive Officer of Compugen. "We believe COM902's properties, including its high affinity and superior binding compared to other anti-TIGITs tested in a preclinical setting, were key attributes that contributed to the decision to obtain rights for the development of bispecific products and further advancement of AZD2936 to the clinic. The exclusive license agreement with AstraZeneca allows us to broaden our product opportunities and specifically capitalize on bispecific products while maintaining ownership of COM902 for the development of various combination therapies in general, and DNAM-axis related specifically, including in combination with COM701 our first in class anti-PVRIG antibody. We are excited to disclose the identity of our program licensed to AstraZeneca and we look forward to reporting future milestone payments as they occur"

    About the Compugen-AstraZeneca License Agreement

    In 2018, Compugen and AstraZeneca entered into an agreement by which Compugen provided an exclusive license to AstraZeneca for the development of bispecific and multi-specific antibody products derived from Compugen's monospecific antibodies that bind to TIGIT, including COM902, with AstraZeneca responsible for all research, development, and commercial activities. AstraZeneca has the right to create multiple products under this license. Compugen has received a $10 million upfront payment and an additional $2 million milestone payment to date, out of up to an aggregate milestone amount of $200 million that the Company is eligible to receive in development, regulatory and commercial milestones for the first product, as well as tiered royalties on future product sales. If additional products are developed, additional milestones and royalties would be due to Compugen. Under the terms of the license agreement, Compugen retained all other rights to its entire pipeline of programs as monotherapies and in combination with other products.

    About the Study

    Details are available on ClinicalTrials.gov, identifier: NCT04995523

    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. Data suggests that COM902 has in vitro activity comparable or superior to TIGIT antibodies in clinical development. It is currently being evaluated by the Company in a Phase 1 clinical studies 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. Compugen's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing Phase 1 single, dual, and triple combination studies. In addition, COM902, Compugen's antibody targeting TIGIT, is in a Phase 1 single and dual combination studies pursued by Compugen, independent of anti-PD1. Compugen'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. Compugen's shares are listed on 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 using 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 relating to AstraZeneca (NASDAQ:AZN) plans to initiate a Phase 1/2 study evaluating AZD2936, COM902's therapeutic potential and our plan to report future milestone payments as they occur. 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: the effect of the global COVID-19 pandemic may continue to negatively impact the global economy and may also adversely affect Compugen's business; 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; Compugen's approach to the discovery of therapeutic products is based on its proprietary computational target discovery infrastructure, which is unproven clinically; and Compugen does not know whether it will be able to discover and develop additional potential product candidates or products of commercial value. 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:  

    Yvonne Naughton, PhD  

    Head of Investor Relations and Corporate Communications

    Email: ir@cgen.com  

    Tel: +1 (628) 241-0071  

    Investor Relations contact:

    John Mullaly

    LifeSci Advisors, LLC

    Email: jmullaly@lifesciadvisors.com  

    Tel: +1 (617) 429-3548

    Cision View original content:https://www.prnewswire.com/news-releases/compugen-announces-bispecific-antibody-derived-from-com902-to-enter-clinical-development-301358743.html

    SOURCE Compugen Ltd.

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  4. HOLON, Israel, July 28, 2021 /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, 2021.

    "Our continued execution in the clinic, which includes the recent initiation of three clinical studies, further strengthens Compugen's leadership position in the DNAM axis space," said Anat Cohen-Dayag, Ph.D., President and CEO of Compugen. "These new studies expand our comprehensive evaluation of the DNAM axis and leave us uniquely positioned as the only company, in a clinical setting, evaluating anti-PVRIG, anti-TIGIT and anti-PD-1 combinations, which is our key differentiator in the TIGIT space…

    HOLON, Israel, July 28, 2021 /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, 2021.

    "Our continued execution in the clinic, which includes the recent initiation of three clinical studies, further strengthens Compugen's leadership position in the DNAM axis space," said Anat Cohen-Dayag, Ph.D., President and CEO of Compugen. "These new studies expand our comprehensive evaluation of the DNAM axis and leave us uniquely positioned as the only company, in a clinical setting, evaluating anti-PVRIG, anti-TIGIT and anti-PD-1 combinations, which is our key differentiator in the TIGIT space. We expect the remainder of the year to include data readouts from our triple combination study in collaboration with Bristol Myers Squibb and COM902 monotherapy study, which we expect to expand the foundation of our clinical data generated to date."

    Dr. Cohen-Dayag continued, "The updated data from our COM701 Phase 1 combination and monotherapy studies presented at ASCO support our continued excitement in our science and potential benefit it may bring to patients, showing durable responses and disease control in patients not eligible for or typically not responding to checkpoint inhibitors including those with prior progression. In addition, we shared our first preliminary pharmacodynamic biomarker data indicating that treatment with COM701 leads to immune activation and has the potential to drive anti-tumor activity in non-inflamed tumors as evidenced by activity in selected PD-L1 low, PVRL2 positive patients. Our combination strategy around our wholly owned assets targeting PVRIG and TIGIT give us a strong first mover advantage, and we look forward to continued progress through 2021 as we work to elucidate the potential of the DNAM axis pathways in immunotherapy." 

    Recent and Second Quarter 2021 Corporate Highlights

    • Presented updated data from the COM701 monotherapy and combination with Opdivo® (nivolumab) studies at the ASCO 2021 Annual Meeting including:

        -   Durable responses beyond one year, including one complete response, in tumor types typically unresponsive to checkpoint inhibitors

        -   Preliminary biomarker data reveal immune activation evidenced by a trend of increased proliferation of peripheral immune cells and IFNγ. IFNγ increased with increasing doses of COM701, suggesting the observed activity is likely derived from the combination treatment and not Opdivo® alone

        -   Preliminary anti-tumor activity in PD-L1 low, PVRL2 positive patients, with non-inflamed tumor microenvironment/immune desert phenotype
    • Dosed the first patient in the Phase 1b cohort expansion study of COM701 in combination with Opdivo® in patients with ovarian, breast, endometrial and microsatellite-stable colorectal cancers
    • Dosed the first patient in the Phase 1 dual combination study of COM902 and COM701 in patients with advanced malignancies, the first clinical study of dual blockade of TIGIT and PVRIG independent of anti-PD-1
    • Dosed the first patient in the Phase 1/2 triple combination cohort expansion of COM701 with Opdivo® and Bristol Myers Squibb's anti-TIGIT antibody, BMS-986207
    • Presented research at the Society for Immunotherapy of Cancer (SITC) Targets for Cancer Immunotherapy: A Deep Dive Seminar Series, supporting PVRIG as a novel and differentiated checkpoint in the DNAM axis

    Financial Results

    R&D expenses for the second quarter ended June 30, 2021, were $6.8 million compared with $4.4 million for the comparable period in 2020.  The increase in R&D expenses reflects the strong execution and expansion of the Phase 1 clinical programs.

    General and administrative expenses for the second quarter ended June 30, 2021, were $2.7 million compared with $2.1 million for the comparable period in 2020. The increase in expenses is attributed mainly to corporate related expenses.

    Net loss for the second quarter of 2021 was $9.5 million, or $0.11 per basic and diluted share, compared with a net loss of $6.2 million, or $0.08 per basic and diluted share, in the comparable period of 2020.

    As of June 30, 2021, cash, cash related accounts, short-term and long-term bank deposits totaled approximately $111 million, compared with approximately $124 million on December 31, 2020. The Company has no debt.

    Conference Call and Webcast Information

    The Company will hold a conference call today, July 28, 2021, at 8:30 AM ET to review its second quarter 2021 results. To access the live conference call by telephone, please dial 1-866-744-5399 from the U.S., or +972-3-918-0644 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. Compugen's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing Phase 1 single, dual, and triple combination studies. In addition, COM902, Compugen's antibody targeting TIGIT, is in a Phase 1 clinical study. Compugen'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. Compugen's shares are listed on 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

    Opdivo® is a registered trademark of Bristol Myers Squibb.

    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 using 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 relating to our expectations regarding the timing and readouts of data from our escalation, triple combination and monotherapy studies and our expectation that such readouts from the triple combination and monotherapy studies would expand the foundation of clinical data generated to date with COM701, statements to the effect that treatment with COM701 leads to immune activation and has the potential to drive anti-tumor activity in non-inflamed tumors, statements that preliminary biomarker data reveal immune activation suggesting the observed activity is derived from the combination treatment of COM701 together with Opdivo® and not Opdivo® alone and statements that suggest that COM701 may drive anti-tumor activity also in non-inflamed tumors. 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: the effect of the global COVID-19 pandemic may continue to negatively impact the global economy and may also adversely affect Compugen's business; 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 studies for any specific product, or may not be able to conduct or complete its studies on the timelines it expects; Compugen relies and expects to continue to rely on third parties to conduct its clinical studies and these third parties may not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, and Compugen may experience significant delays in the conduct of its clinical studies as well as significant increased expenditures; 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; Compugen's approach to the discovery of therapeutic products is based on its proprietary computational target discovery infrastructure, which is unproven clinically; and Compugen does not know whether it will be able to discover and develop additional potential product candidates or products of commercial value. 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:  

    Yvonne Naughton, PhD  

    Head of Investor Relations and Corporate Communications

    Email: ir@cgen.com  

    Tel: +1 (628) 241-0071  

     

    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,



    2021



    2020



    2021



    2020



    Unaudited



    Unaudited



    Unaudited



    Unaudited

















    Operating expenses















    Research and development expenses

    6,797



    4,447



    14,123



    9,159

    Marketing and business development expenses

    241



    204



    465



    414

    General and administrative expenses

    2,659



    2,131



    5,373



    4,607

    Total operating expenses

    9,697



    6,782



    19,961



    14,180

    Financial and other income, net

    200



    536



    559



    806

    Loss before taxes on income

    (9,497)



    (6,246)



    (19,402)



    (13,374)

    Taxes on income

    -



    -



    -



    -

    Net loss

    (9,497)



    (6,246)



    (19,402)



    (13,374)

















    Basic and diluted net loss per ordinary share         

    (0.11)



    (0.08)



    (0.23)



    (0.18)

    Weighted average number of ordinary shares

    used in computing basic and diluted net loss

    per share

    83,799,634



    81,273,240



    83,739,983



    75,774,881

















     

    COMPUGEN LTD.

    CONDENSED CONSOLIDATED BALANCE SHEETS DATA

    (U.S. dollars, in thousands)











    June 30,



    December 31,





    2021



    2020





    Unaudited

















    ASSETS



















    Current assets









    Cash, cash equivalents, short-term bank deposits

    and restricted cash

    111,092



    124,432



    Trade receivables





    2,000



    Other accounts receivable and prepaid expenses

    2,662



    2,658



    Total current assets

    113,754



    129,090













    Non-current assets









    Long-term prepaid expenses

    1,906



    1,880



    Severance pay fund

    3,017



    2,863



    Operating lease right to use asset

    2,415



    2,772



    Property and equipment, net

    1,724



    1,711



    Total non-current assets

    9,062



    9,226













    Total assets

    122,816



    138,316























    LIABILITIES AND SHAREHOLDERS EQUITY



















    Current liabilities









    Other accounts payable, accrued expenses

    and trade payables

    10,484



    9,216



    Current maturity of operating lease liability

    706



    639



    Short-term deferred participation in R&D expenses

    660



    668



    Total current liabilities

    11,850



    10,523













    Non-current liabilities









    Long-term deferred participation in R&D expenses

    1,798



    1,968



    Long-term operating lease liability

    2,141



    2,527



    Accrued severance pay

    3,606



    3,516



    Total non-current liabilities

    7,545



    8,011













    Total shareholders' equity

    103,421



    119,782













    Total liabilities and shareholders' equity

    122,816



    138,316













     

    Cision View original content:https://www.prnewswire.com/news-releases/compugen-reports-second-quarter-2021-results-301342975.html

    SOURCE Compugen Ltd.

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  5. HOLON, Israel, July 19, 2021 /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 cohort expansion arm of the Phase 1/2 study evaluating the triple combination of COM701, Compugen's first-in-class anti-PVRIG antibody, with Opdivo® (nivolumab) and Bristol Myers Squibb's investigational anti-TIGIT antibody, BMS-986207.

    "We continue to push forward as leaders in the DNAM axis space and as the only company evaluating a potential synergistic triple blockade of PVRIG, TIGIT and PD-1 in the clinic," said Anat Cohen-Dayag, Ph.D., President and CEO of Compugen. "We believe that the future of immuno-oncology…

    HOLON, Israel, July 19, 2021 /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 cohort expansion arm of the Phase 1/2 study evaluating the triple combination of COM701, Compugen's first-in-class anti-PVRIG antibody, with Opdivo® (nivolumab) and Bristol Myers Squibb's investigational anti-TIGIT antibody, BMS-986207.

    "We continue to push forward as leaders in the DNAM axis space and as the only company evaluating a potential synergistic triple blockade of PVRIG, TIGIT and PD-1 in the clinic," said Anat Cohen-Dayag, Ph.D., President and CEO of Compugen. "We believe that the future of immuno-oncology will be driven by combination therapy and this study examining our three-pathway hypothesis is an important component of our overall strategy and a key differentiator for Compugen in the TIGIT space. The study is designed to evaluate simultaneous blockade of three immune checkpoint pathways, PVRIG, TIGIT and PD-1 and test the hypothesis that blockade of both PVRIG and TIGIT, parallel DNAM pathways, may be required in certain tumor types to generate or enhance an anti-tumor immune response. The initiation of the cohort expansion phase of the study, allowing us to focus with the selected dose for expansion on specific patient populations where we believe the DNAM axis is dominant, is an important step to examine the potential benefit of this unique immunotherapy combination in a broader range of patients. We are on track to report preliminary data from the triple combination dose escalation arm of the study in the fourth quarter of this year."

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

    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.  Additional information is available at www.clinicaltrials.gov (NCT04570839).

    Opdivo® is a trademark of Bristol-Myers Squibb Company.

    About COM701  

    COM701 is a humanized antibody that binds with high affinity to PVRIG, a novel immune checkpoint discovered computationally by Compugen, blocking the interaction with its ligand, PVRL2. Blockade of PVRIG by COM701 has demonstrated in preclinical studies potent, reproducible enhancement of T cell activation, consistent with the desired mechanism of action of activating T cells in the tumor microenvironment to generate anti-tumor immune responses.  Compugen has identified PVRIG and TIGIT as key parallel and complementary inhibitory pathways in the DNAM axis, which also intersect with the well-established PD-1 pathway.  Research from Compugen suggests that these three pathways have different dominance in different tumor types and patients, implying that to induce effective antitumor responses, certain patient populations may require the blockade of different combinations of these three pathways. To test this hypothesis, Compugen has established a science-driven, biomarker informed clinical program, which evaluates different combinations of these axis members across tumor types.  Compugen is the only company with clinical assets targeting both PVRIG and TIGIT in its portfolio allowing it to more fully exploit the potential of blocking these parallel and complementary members of the DNAM axis to drive robust immune responses.

    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. Compugen's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing Phase 1 single, dual and triple combination studies. In addition, COM902, Compugen's antibody targeting TIGIT, is in a Phase 1 clinical study. Compugen'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. Compugen's shares are listed on 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 our belief that the future of immuno-oncology will be driven by combination therapy, statements regarding simultaneous blockade of three immune checkpoint pathways, PVRIG, TIGIT and PD-1 and regarding the possible requirement of blockade of both PVRIG and TIGIT, parallel DNAM-1 pathways, in certain tumor types in order to generate or enhance an anti-tumor immune response, statements regarding our belief that the DNAM-axis is dominant is specific patient populations on which we focus the selected dose for expansion in the cohort expansion phase of the study, and our expectation to report preliminary data from the triple combination dose escalation arm of the study in the fourth quarter of this year. 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: the effect of the global COVID-19 pandemic may continue to negatively impact the global economy and may also adversely affect Compugen's business; 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 studies for any specific product, or may not be able to conduct or complete its studies on the timelines it expects; Compugen relies and expects to continue to rely on third parties to conduct its clinical studies and these third parties may not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, and Compugen may experience significant delays in the conduct of its clinical studies as well as significant increased expenditures; 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; Compugen's approach to the discovery of therapeutic products is based on its proprietary computational target discovery infrastructure, which is unproven clinically; and Compugen does not know whether it will be able to discover and develop additional potential product candidates or products of commercial value. 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:

    Yvonne Naughton PhD

    Head of Investor Relations and Corporate Communications Compugen Ltd.

    Email: ir@cgen.com

    Tel: +1 (628) 241-0071

    Investor Relations contact:

    John Mullaly

    LifeSci Advisors, LLC

    Email: jmullaly@lifesciadvisors.com   

    Tel: +1 (617) 429-3548

     

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    SOURCE Compugen Ltd.

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