Group 1 - Compugen Ltd. (NASDAQ: CGEN) is an immuno-oncology biotech utilizing its Unigen platform for discovering immune checkpoints, drug candidates, and biomarkers [1] - The Unigen platform is based on Artificial Intelligence and Machine Learning technologies [1] Group 2 - The article does not provide any financial performance data or specific investment recommendations related to Compugen Ltd. [2][3]

Core Insights - Compugen Ltd. announced a pooled analysis supporting the anti-tumor activity and safety profile of COM701 in heavily pre-treated patients with platinum-resistant ovarian cancer, published as an abstract by the European Society of Medical Oncology (ESMO) [1][2][3] Company Developments - The pooled analysis included 60 evaluable patients from prior COM701 Phase 1 clinical trials, focusing on clinical benefits and progression-free survival data [2][3] - COM701 demonstrated good tolerance and durable responses, especially in patients without liver metastases, indicating a potential for lower disease burden and less immunosuppressive tumor microenvironment [3] - Compugen is conducting the MAIA-ovarian trial to evaluate COM701 as maintenance therapy in relapsed platinum-sensitive ovarian cancer, with an interim analysis planned once data from approximately 60 participants is available [3][6] Future Plans - The MAIA-ovarian trial aims to assess the median progression-free survival, with sites activated in the U.S., Israel, and France to support enrollment [3][6] - Compugen anticipates interim analysis results by the end of 2026, with sufficient cash flow to support operations into 2027 [3][6] Industry Context - ESMO 2025 will feature presentations from companies with differentiated Fc-reduced TIGIT programs, including oral presentations from Compugen's partner AstraZeneca [5]

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].