Prnewswireยท2025-11-10 12:00Core Insights - Compugen Ltd. reported its third quarter 2025 financial results, highlighting a significant decrease in revenue compared to the same period in 2024, alongside advancements in its clinical pipeline and a strong cash position [1][5][3]. Financial Performance - Revenue for Q3 2025 was approximately $1.9 million, a decrease from $17.1 million in Q3 2024, primarily due to the recognition of upfront and milestone payments from Gilead [5]. - Research and Development (R&D) expenses were approximately $5.8 million in Q3 2025, down from $6.3 million in Q3 2024 [6]. - General and Administrative (G&A) expenses were approximately $2.2 million in Q3 2025, compared to $2.6 million in Q3 2024 [6]. - The net loss for Q3 2025 was approximately $6.98 million, or $0.07 per share, contrasting with a net profit of approximately $1.28 million, or $0.01 per share, in Q3 2024 [7]. Clinical Developments - Compugen's COM701, an Fc-reduced anti-PVRIG antibody, showed promising Phase 1 data at ESMO 2025, indicating it is well tolerated and delivers durable responses in heavily pretreated platinum-resistant ovarian cancer patients [2][4]. - The ongoing MAIA-ovarian platform trial is evaluating COM701 maintenance therapy in platinum-sensitive ovarian cancer, with interim analysis expected in Q1 2027 [4]. - AstraZeneca presented positive results for its rilvegostomig program at ESMO 2025, reinforcing the potential of Fc-reduced anti-TIGIT antibodies [2][4]. Financial Position - As of September 30, 2025, Compugen had approximately $86.1 million in cash and cash equivalents, sufficient to fund operations into Q3 2027 [3]. - The company has no debt and recently raised approximately $1.6 million through the sale of shares [3]. Strategic Partnerships - Compugen has established partnerships with AstraZeneca and Gilead, which could provide over $1 billion in potential milestones and royalties, enhancing the company's financial outlook and pipeline development [2][3].