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 (CGEN) is a clinical-stage biotechnology company developing cancer immunotherapies through computational biology. The company's news typically covers clinical trial progress, partnership developments, and regulatory milestones related to its pipeline of immune checkpoint inhibitors discovered through AI-powered platforms.
For investors tracking Compugen, key news categories include updates on the company's lead programs COM701 and COM503 as they advance through clinical trials. Trial initiation announcements, patient dosing milestones, and interim efficacy data presentations at oncology conferences provide insight into the development trajectory of these novel antibodies. Partnership announcements and licensing agreements signal external validation of Compugen's computational discovery platform and can trigger milestone payments that impact the company's cash runway.
Compugen's quarterly earnings reports, filed as Form 6-K due to its foreign private issuer status, detail research and development spending, cash position, and progress across multiple clinical programs. These financial updates are particularly significant for clinical-stage biotechs, as they indicate how long the company can fund operations before requiring additional capital. Platform enhancement announcements, such as collaborations to integrate new sequencing technologies into the Unigen™ system, reflect the company's ongoing investment in its core computational capabilities.
News about partner-developed programs using Compugen-discovered targets, particularly rilvegostomig (formerly COM902), can affect the company's long-term royalty outlook even though Compugen is not directly conducting those trials. Conference presentations and peer-reviewed publications provide scientific validation of the company's approach to identifying immune regulatory mechanisms. Bookmark this page to track how Compugen's computational immunotherapy discovery model translates into clinical and commercial progress.
Compugen (Nasdaq: CGEN), a clinical-stage cancer immunotherapy company, announced that its SVP of Preclinical Development and Corporate Operations, Pierre Ferré, Ph.D, will present at the 12th Antibody Industrial Symposium in Montpellier, France, on June 21, 2024. The presentation will focus on a case study regarding clinical dose selection for TIGIT monospecific and bispecific antibodies. This event is an important platform for discussing advancements in antibody research and development.
Compugen has announced that it will receive a $5 million milestone payment from AstraZeneca following the dosing of the first patient in the Phase 3 TROPION-Lung10 trial. This trial evaluates the efficacy and safety of rilvegostomig, a PD-1/TIGIT bispecific antibody, as monotherapy and in combination with datopotamab deruxtecan for first-line treatment of non-squamous non-small cell lung cancer patients with high PD-L1 expression. The trial is expected to enroll approximately 675 patients across 14 countries. This milestone is part of Compugen's strategy to expand its pipeline through partnerships, following a previous $10 million payment related to the ARTEMIDE-Biliary01 Phase 3 trial.
Compugen (Nasdaq: CGEN) reported its Q1 2024 financials, highlighting key clinical advancements and financials. The company completed enrollment for its COM701 + COM902 + pembrolizumab study in platinum-resistant ovarian cancer, with data expected in Q4 2024. Data from its study on MSS CRC with liver metastases will be presented at ASCO 2024. Plans to file an IND for COM503 in H2 2024 are on track. Compugen's partner, AstraZeneca, advanced rilvegostomig to a second Phase 3 trial in NSCLC.
Financially, Compugen had $101.3 million in cash as of Mar 31, 2024, up from $51.1 million at the end of 2023, bolstered by payments from Gilead and AstraZeneca. The company reported $2.6 million in revenue for Q1 2024 and reduced net loss to $7.3 million, compared to $9.3 million in Q1 2023. R&D and G&A expenses also saw a decline. The cash runway is expected to fund operations into 2027.
Compugen has published a peer-reviewed paper in Cancer Immunology Research, highlighting the unique biology of PVRIG and its therapeutic potential. PVRIG, discovered by Compugen, is expressed on stem-like T cells in dendritic cell-rich niches in tumors. The study shows that blocking PVRIG, combined with anti-TIGIT and anti-PD-1 therapies, can induce immune infiltration in non-inflamed tumors, potentially overcoming resistance to immunotherapy. Phase 1 trials of COM701, an antibody targeting PVRIG, demonstrated durable clinical responses and a favorable safety profile in typically non-responsive cancer types.
Compugen has appointed David Silberman as its new Chief Financial Officer, effective August 15, 2024, succeeding Alberto Sessa. Silberman joins from Oramed Pharmaceuticals, bringing over 15 years of finance experience, including 10 years in the healthcare and biotech industries. He has held strategic roles at Teva Pharmaceutical Industries and Grant Thornton Fahn Kanne Control Management. Compugen's CEO, Anat Cohen-Dayag, expressed confidence in Silberman's ability to drive value for shareholders and patients. Silberman is enthusiastic about joining at a time of significant growth potential, citing Compugen's innovative assets and strategic partnerships.
Compugen (Nasdaq: CGEN) will release its first quarter 2024 financial results on May 20, 2024. The company, focusing on cancer immunotherapy and computational target discovery, will host a conference call to review the results and provide a corporate update.
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