Core Insights - Compugen Ltd. is advancing its clinical-stage cancer immunotherapy with the presentation of a first-in-human trial for the anti-IL18BP antibody, COM503 (GS-0321), at the upcoming SITC Annual Meeting in November 2025 [1][2]. Company Overview - Compugen is a clinical-stage therapeutic discovery and development company that utilizes AI/ML-powered computational discovery to identify new drug targets and biological pathways for cancer immunotherapies [2]. - The company has two proprietary product candidates in Phase 1 development: COM701, an anti-PVRIG antibody, and COM902, an antibody targeting TIGIT for solid tumors [2]. - Rilvegostomig, a PD-1/TIGIT bispecific antibody, is in Phase 3 development by AstraZeneca under a licensing agreement [2]. - GS-0321 (previously COM503) is a high-affinity anti-IL-18 binding protein antibody in Phase 1 development, licensed to Gilead [2]. - Compugen's pipeline includes early-stage immuno-oncology programs aimed at activating the immune system against cancer [2]. - The company is headquartered in Israel with additional offices in San Francisco, CA, and is listed on Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN [2].

Summary of Compugen Conference Call Company Overview - **Company**: Compugen (NasdaqCM:CGEN) - **Industry**: Immuno-oncology - **Focus**: Utilizing AI-based computational biology tools to identify novel drug targets for cancer treatment [1][2] Core Points and Arguments - **Leadership Transition**: Eran Ophir will become the President and CEO, succeeding Anat Cohen-Dayag, who will take on the role of Executive Chairperson [1][10] - **Immuno-oncology Landscape**: The field has been revolutionized by drugs like Keytruda, which generated $29 billion in sales last year. However, many patients do not benefit from existing therapies, indicating a need for novel approaches [2] - **Computational Platform**: Compugen's AI-based platform, Unigen™, has a validated database of patient samples, allowing the company to take drug targets from computational predictions to clinical trials [3] - **Clinical Assets**: - **COM701**: Targets PVRIG, currently in a randomized study for platinum-sensitive ovarian cancer [5][9] - **COM902**: Targets TIGIT, positioned as a potential best-in-class antibody, with ongoing phase III trials by AstraZeneca and Arcus [3][4] - **Rifleucostamid**: A PD-1/TIGIT bispecific antibody, with AstraZeneca running 10 phase III trials, potentially generating over $5 billion in sales [6] - **GS0321**: Targets ILT in binding protein, licensed to Gilead, with potential milestones exceeding $758 million [7] Financial Highlights - **Cash Position**: As of June 30, Compugen has approximately $94 million in cash, providing a runway into 2027 [5] - **Milestone Opportunities**: Eligible for over $1 billion in future milestones from collaborations with AstraZeneca and Gilead [5][7] Clinical Development - **COM701 Study**: Aiming for a readout in the second half of 2026, with expectations of improving progression-free survival by at least three months compared to placebo [9] - **Upcoming Results**: Compugen will present pooled analysis results at the upcoming ESMO conference, which may support the rationale for ongoing studies [10] Strategic Partnerships - **AstraZeneca**: Engaged in a broad clinical development program for rifleucostamid, which may replace previous PD-1 therapies [6] - **Gilead**: Collaboration on GS0321, with significant milestone payments and royalties expected [7] Additional Insights - **First-Mover Advantage**: Compugen is the first to bring COM701 to the clinic, with a differentiated approach to targeting PVRIG [8] - **Adaptive Trial Design**: The new study design for COM701 aims to address unmet needs in patients with low tumor burden after chemotherapy [9] - **Leadership Confidence**: The new leadership structure is expected to enhance growth potential, supported by a strong scientific foundation and innovative pipeline [10] Conclusion Compugen is strategically positioned in the immuno-oncology sector with a robust pipeline, significant partnerships, and a strong financial foundation, aiming to address unmet medical needs in cancer treatment [10]

Summary of Compugen (CGEN) FY Conference Call - September 05, 2025 Company Overview - **Company**: Compugen Ltd. - **Industry**: Clinical-stage immunotherapy, specifically immuno-oncology - **Focus**: Utilizes AI/ML-driven predictive tools for discovering novel drug targets - **Key Collaborations**: Partnerships with AstraZeneca and Gilead [1][3] Core Points and Arguments Development Strategy - Compugen has a rich pipeline with two fully owned clinical assets: COM701 (PVRIG antibody) and COM902 (anti-TIGIT antibody) [3][4] - COM902 is licensed to AstraZeneca for use in a bispecific molecule, relvegostomig, currently in Phase III trials [4] - Gilead is developing GS0321, a potential first-in-class antibody identified through Compugen's Unigen™ platform, now in Phase I study [4][24] Computational Platform - Unigen™ - Unigen™ focuses on target discovery in oncology, identifying novel drug targets to enhance clinical testing options [5] - The platform has been validated through successful transitions from computational predictions to clinical testing [5] COM701 and Ovarian Cancer - COM701 targets PVRIG, which is highly expressed in ovarian cancer, particularly in less inflamed tumor types [6][7] - The MAIA ovarian cancer study aims to evaluate COM701 as a maintenance treatment for platinum-sensitive patients, with a focus on improving progression-free survival [8][14] - Current standard of care for these patients is limited, creating an unmet need that COM701 could address [10][12] Clinical Trial Design - The MAIA study is randomized and blinded, comparing COM701 monotherapy to placebo [14] - Interim analysis expected in H2 2026, with a goal to show improvement in progression-free survival by more than three months [15] TIGIT Development Landscape - Compugen and AstraZeneca continue to evaluate relvegostomig despite challenges faced by other companies in the TIGIT space [20][21] - The unique characteristics of their TIGIT antibody class, which does not bind FC receptors, may contribute to a favorable safety profile [21][22] Financials and Future Outlook - Compugen reported approximately $94 million in cash as of June, providing a runway into 2027 without relying on royalties or milestones from collaborations [31] - Upcoming catalysts include ESMO presentations and readouts from ongoing studies, particularly in the TIGIT landscape [30] Additional Important Content - The partnership with Gilead includes a deal structure worth up to $850 million, with Compugen leading the Phase I study for GS0321 [24][25] - The mechanism of action for GS0321 involves blocking IL-10 binding protein to unleash the activity of IL-10 in the tumor environment [27][28] - The company is optimistic about the potential of COM701 and its ability to prolong the time from platinum-sensitive status to relapse in ovarian cancer patients [12][30]

Group 1 - Compugen (CGEN) is preparing for several catalysts in the coming years, focusing on the development of its anti-PVRIG antibody COM701, which is currently under exploration [2] - The company is part of the Biotech Analysis Central service, which provides in-depth analysis of various pharmaceutical companies and includes a model portfolio of small and mid-cap stocks [2] Group 2 - The Biotech Analysis Central service offers a library of over 600 biotech investing articles and live chat features to assist healthcare investors in making informed decisions [2]

Financial Data and Key Metrics Changes - As of June 30, 2025, the company had approximately $93.9 million in cash, cash equivalents, short-term bank deposits, and investments in marketable securities [14] - Revenues for 2025 were approximately $1.3 million, a significant decrease from approximately $6.7 million in the comparable period in 2024 [15] - The net loss for 2025 was approximately $7.3 million, or $0.08 per basic and diluted share, compared to a net loss of approximately $2.1 million, or $0.02 per basic and diluted share in 2024 [16] Business Line Data and Key Metrics Changes - The company is advancing its immuno-oncology clinical and early-stage pipeline programs, including the potential first-in-class anti-PVRIG antibody COM701 [7] - The first patient was dosed in the ovarian maintenance immunotherapy trial, with plans to share interim analysis in 2026 [7] - Research and Development (R&D) expenses for 2025 were approximately $5.6 million, down from approximately $6.2 million in 2024 [16] Market Data and Key Metrics Changes - The company is observing increased competition in the platinum-sensitive ovarian cancer space, with a focus on improving treatment options for patients [8] - The initial opportunity in the platinum-sensitive maintenance setting is estimated to involve approximately 8,000 to 12,000 patients based on available epidemiology data [30] Company Strategy and Development Direction - The company aims to leverage its UniGen platform to identify novel mechanisms to activate the immune system against cancer [5] - The leadership transition is expected to provide a strong foundation for the company's next phase of growth, with a focus on corporate strategy and strategic collaborations [4] - The company is committed to advancing its extensive and differentiated early-stage pipeline focused on potential first-in-class drugs [13] Management's Comments on Operating Environment and Future Outlook - Management believes that the differentiated approach in immunotherapy can create significant value, addressing unmet medical needs in cancer treatment [5] - The company is well-positioned to capitalize on potential growth opportunities ahead, supported by a solid balance sheet and expected cash runway into 2027 [6] Other Important Information - The company has partnerships with AstraZeneca and Gilead, with potential milestone payments exceeding $1 billion [6] - The company has received milestone payments of $30.5 million and remains eligible for up to $170 million in future regulatory and commercial milestone payments [12] Q&A Session Summary Question: Can you provide an update on patient enrollment for the ovarian cancer trial? - The company has not disclosed the number of sites but has open sites in the US and Israel, actively enrolling with high investigator enthusiasm [22] Question: What should investors focus on regarding the upcoming presentation? - The focus will be on understanding the patients who had responses in prior studies, with more information on efficacy and safety to be presented [23] Question: What are the expectations from Merck's successful Phase III in ovarian cancer? - The Merck study provides insights into potential activity in earlier lines of treatment but does not change the company's current approach as it focuses on platinum-sensitive patients [36] Question: Can you provide more details on the interim analysis planned for 2026? - The interim analysis is to evaluate for futility and characterize the magnitude of effect size for COM701, with expectations that the study will be fully enrolled [41]

Company Performance - Compugen reported a quarterly loss of $0.08 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.07, and compared to a loss of $0.02 per share a year ago, indicating a decline in performance [1] - The company posted revenues of $1.26 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 76.15%, and a significant drop from year-ago revenues of $6.7 million [2] - Compugen has not surpassed consensus EPS estimates over the last four quarters, indicating ongoing challenges in meeting market expectations [2] Stock Outlook - Compugen shares have lost about 4.6% since the beginning of the year, contrasting with the S&P 500's gain of 7.1%, highlighting underperformance relative to the broader market [3] - The current consensus EPS estimate for the coming quarter is -$0.07 on revenues of $5.47 million, and for the current fiscal year, it is -$0.28 on revenues of $14.78 million, suggesting continued struggles ahead [7] Industry Context - Compugen operates within the Zacks Medical - Biomedical and Genetics industry, which is currently ranked in the bottom 42% of over 250 Zacks industries, indicating a challenging environment for growth [8] - The performance of Compugen's stock may be influenced by the overall outlook for the industry, as research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

Financial Performance - For the six months ended June 30, 2025, the company reported revenues of $3,541,000, a decrease of 62.3% compared to $9,261,000 for the same period in 2024[7] - The gross loss for the same period was $524,000, compared to a gross profit of $5,607,000 in 2024, indicating a significant decline in profitability[7] - The net loss for the six months ended June 30, 2025, was $14,523,000, compared to a net loss of $9,390,000 in 2024, representing an increase in losses of 55.5%[7] - Total revenues for the six months ended June 30, 2025, were $3,541,000, a decrease of 61.8% compared to $9,261,000 for the same period in 2024[46] - The net loss for the six months ended June 30, 2025, was $14,523,000, compared to a net loss of $9,390,000 for the same period in 2024, representing a 55.1% increase in losses[53] Operating Expenses - Operating expenses totaled $16,300,000 for the six months ended June 30, 2025, down from $17,511,000 in 2024, reflecting a reduction of approximately 6.9%[7] - Research and development expenses for the six months ended June 30, 2025, were $6,659,000, down from $8,546,000 in 2024, a decrease of 22.1%[46] - The total stock-based compensation expenses related to share options and RSUs for the six months ended June 30, 2025, were $987,000, down from $1,633,000 in 2024, a decrease of 39.5%[43] Assets and Cash Flow - As of June 30, 2025, the company had total assets of $106,525,000, down from $114,995,000 as of December 31, 2024, a decrease of 7.4%[3] - Cash and cash equivalents decreased to $6,467,000 as of June 30, 2025, from $18,229,000 at the end of 2024, a decline of 64.5%[3] - The company reported a negative cash flow from operating activities of $18,564,000 for the six months ended June 30, 2025[13] Accumulated Deficit - The accumulated deficit increased to $503,281,000 as of June 30, 2025, compared to $488,758,000 at the end of 2024, reflecting a rise of 2.4%[5] Research and Development - The company has two proprietary product candidates in Phase 1 development and one in Phase 3 development, indicating ongoing investment in R&D despite financial losses[13] - The Company incurred a milestone payment of $750 in research and development expenses for the six-month period ended June 30, 2025, compared to $0 in the same period in 2024[36] Milestone Payments and Agreements - Gilead made a one-time upfront payment of $60,000 and a milestone payment of $30,000 upon IND clearance for GS-0321, with potential additional milestone payments of approximately $758,000[15] - The Company is responsible for the Phase 1 clinical trial of GS-0321, with Gilead providing its zimberelimab antibody at no cost[16] - Compugen received $10,000 upfront and $30,500 in milestone payments from AstraZeneca, with eligibility for up to $200,000 in additional milestones and tiered royalties on future product sales[18] - The License Agreement with Gilead prohibits the Company from researching or developing any compounds directed to IL-18 during its term[19] Securities and Options - As of June 30, 2025, the Company had available-for-sale marketable securities valued at $28,875, with no significant unrealized losses[29] - Proceeds from maturities of available-for-sale marketable securities were $21,643 for the six-month period ended June 30, 2025[30] - The Company issued 6,867,191 shares through an at-the-market offering, generating proceeds of approximately $12,495 net of issuance expenses[37] - As of June 30, 2025, options outstanding were 8,348,200 with a weighted average exercise price of $4.28 and an intrinsic value of $1,263,000[38] - The weighted average fair value of options granted during the six months ended June 30, 2025, was $1.20, compared to $1.41 for the same period in 2024[41] - As of June 30, 2025, the total unrecognized estimated compensation cost related to non-vested share options and RSUs was $2,586,000, expected to be recognized over approximately 2.42 years[44] Revenue Recognition - The remaining performance obligations as of June 30, 2025, amounted to $40,137,000, with an expectation to recognize 26% as revenue over the next 12 months[49] Interest Income - Interest income for the six months ended June 30, 2025, was $2,048,000, an increase from $1,770,000 in 2024[45] Royalties - The Company recorded $0 in royalties to the IIA for the six-month period ended June 30, 2025, compared to $278 for the same period in 2024[32]

Core Insights - Compugen Ltd. reported its financial results for Q2 2025, highlighting advancements in its immuno-oncology pipeline and a solid financial position with cash expected to fund operations into 2027 [1][4][7]. Corporate Update - The company has initiated the MAIA-ovarian trial, dosing the first patient with COM701 for maintenance therapy in relapsed platinum-sensitive ovarian cancer [2][5]. - Compugen plans to present pooled analysis data from three Phase 1 trials of COM701 at the upcoming ESMO 2025 conference [2][6]. - The Phase 1 trial for GS-0321, an anti-IL18BP antibody licensed to Gilead, is ongoing [2][5]. - AstraZeneca's rilvegostomig program, which includes ten active Phase 3 trials, is progressing well, with data presentations planned for ESMO 2025 [2][6]. Financial Highlights - As of June 30, 2025, Compugen had approximately $93.9 million in cash and cash equivalents, sufficient to fund operations into 2027 [7]. - The company reported revenues of approximately $1.3 million for Q2 2025, a decrease from $6.7 million in Q2 2024, primarily due to the timing of milestone payments [8]. - R&D expenses for Q2 2025 were approximately $5.6 million, down from $6.2 million in the same period of 2024 [9]. - The net loss for Q2 2025 was approximately $7.3 million, compared to a net loss of $2.1 million in Q2 2024 [9]. Future Milestones - Upcoming presentations at ESMO 2025 will include data on COM701 and rilvegostomig, with further data expected in H2 2026 [6][3].

Core Insights - Compugen Ltd. is set to present a pooled analysis of data from three Phase 1 trials of COM701 for treating heavily pretreated platinum-resistant ovarian cancer patients at ESMO 2025 in Berlin [1][2] Company Overview - Compugen is a clinical-stage cancer immunotherapy company that utilizes AI/ML for predictive computational drug target discovery [2] - The company has two proprietary product candidates in Phase 1 development: COM701, an anti-PVRIG antibody, and COM902, an antibody targeting TIGIT for solid tumors [2] - Compugen's pipeline includes early-stage immuno-oncology programs aimed at activating the immune system against cancer [2] - The company is headquartered in Israel with additional offices in San Francisco, CA, and its shares are listed on Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN [2]

Company Overview - Compugen Ltd. is a clinical-stage cancer immunotherapy company specializing in predictive computational drug target discovery using AI/ML technologies [3] - The company is headquartered in Israel and has an office in San Francisco, CA, with shares listed on Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN [3] Upcoming Financial Results - Compugen will release its second quarter 2025 financial results on August 6, 2025, before U.S. financial markets open [1] - A conference call and webcast will be held at 8:30 AM ET to review the results and provide a corporate update [1] Product Pipeline - Compugen has two proprietary product candidates in Phase 1 development: COM701, an anti-PVRIG antibody, and COM902, an antibody targeting TIGIT for solid tumors [3] - Rilvegostomig, a PD-1/TIGIT bispecific antibody, is in Phase 3 development by AstraZeneca under a licensing agreement [3] - GS-0321, a high affinity anti-IL-18 binding protein antibody, is also in Phase 1 development and licensed to Gilead [3] Research Programs - The company has a therapeutic pipeline focused on early-stage immuno-oncology programs aimed at activating the immune system against cancer through new mechanisms [3]