Financial Data and Key Metrics Changes - As of September 30, 2025, the company had approximately $86 million in cash, cash equivalents, short-term bank deposits, and investments in marketable securities [17] - Revenues for Q3 2025 were approximately $1.9 million, a significant decrease from approximately $17.1 million in Q3 2024 [17] - R&D expenses for Q3 2025 were approximately $5.8 million, down from approximately $6.3 million in Q3 2024 [18] - The net loss for Q3 2025 was approximately $6.98 million, or $0.07 per share, compared to a net profit of approximately $1.28 million, or $0.01 per share in Q3 2024 [18] Business Line Data and Key Metrics Changes - The company is advancing its COM701 trial for platinum-sensitive ovarian cancer, with ongoing efforts to support the Maya ovarian platform trial [12][14] - COM902 is highlighted as one of the only two clinical-stage FC-reduced anti-TIGIT monoclonal antibodies currently in development, fully owned by the company [8] Market Data and Key Metrics Changes - The potential commercial opportunity for Rilvegostomig, a bispecific antibody, is substantial, with AstraZeneca estimating peak year revenue targets of over $5 billion [9] - The company is eligible for regulatory and commercial milestones and tiered royalties from AstraZeneca's broad development program, which includes 11 phase III trials across various cancers [10] Company Strategy and Development Direction - The company emphasizes its pioneering role in computational drug target discovery and aims to leverage its expertise in digital biology to deliver significant patient value [4] - The strategy includes focusing on FC-reduced formats for anti-TIGIT antibodies, with COM902 positioned to capture market interest as new data emerges [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing trials and the potential for COM701 and COM902 to address significant unmet medical needs [12][14] - The company anticipates that the cash runway will support operations into Q3 2027, allowing continued investment in clinical trials and early-stage pipeline development [17] Other Important Information - The company presented a pooled analysis of COM701 at ESMO, demonstrating its clinical benefit in patients with heavily pretreated platinum-resistant ovarian cancer [12][13] - The Maya ovarian platform trial is progressing, with sites activated across the US, Israel, and France, and an interim analysis expected in Q1 2027 [14] Q&A Session Summary Question: What factors influenced the extension of the Maya interim analysis to Q1 2027? - Management indicated that the extension is due to site openings, enrollment rates, and the accumulation of events in the trial [20][22] Question: What are the expectations for the upcoming Arcus-Gilead readout with their TIGIT in gastric cancer? - Management noted that the readout could validate their hypotheses regarding FC-reduced TIGIT antibodies, but emphasized that it is only one trial among many [28][30] Question: What internal thresholds are being considered for the interim update from the Maya ovarian trial? - The company is looking for a clinically meaningful improvement of up to three months above placebo in the trial [35][38] Question: Can COM902 be partnered with another company despite the license agreement with AstraZeneca? - Management confirmed that they fully own COM902 and have no restrictions on pursuing partnerships, allowing for opportunistic decisions based on market developments [42][43] Question: How does the tolerability profile of COM701 influence its use in combination therapies? - Management stated that COM701 is extremely well tolerated as a monotherapy, which supports its potential use in combination therapies [46][47]

Financial Data and Key Metrics Changes - As of September 30, 2025, the company had approximately $86 million in cash, cash equivalents, short-term bank deposits, and investments in marketable securities [17] - Revenues for Q3 2025 were approximately $1.9 million, a significant decrease from approximately $17.1 million in Q3 2024 [17] - R&D expenses for Q3 2025 were approximately $5.8 million, down from approximately $6.3 million in Q3 2024 [18] - The net loss for Q3 2025 was approximately $6.98 million, or $0.07 per share, compared to a net profit of approximately $1.28 million, or $0.01 per share in Q3 2024 [18] Business Line Data and Key Metrics Changes - The company is advancing its COM701 trial for platinum-sensitive ovarian cancer and GS0321 in the clinic, with a focus on early-stage pipeline investments [17][15] - COM902 is highlighted as one of the only two clinical-stage FC-reduced anti-TIGIT monoclonal antibodies currently in development, fully owned by the company [8] Market Data and Key Metrics Changes - The potential commercial opportunity for Rilvegostomig, a bispecific antibody, is estimated to exceed $5 billion in peak year revenue [9] - The ongoing Maya ovarian platform trial is expected to address a significant unmet need for maintenance therapy in platinum-sensitive ovarian cancer [14] Company Strategy and Development Direction - The company emphasizes its pioneering role in computational drug target discovery and aims to leverage its expertise in digital biology to deliver significant patient value [4] - The strategy includes focusing on FC-reduced formats, with COM902 and COM701 positioned as key assets [8][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the clinical momentum of their programs and the potential for improved safety profiles with FC-reduced formats [7][8] - The company anticipates cash runway to support operations into Q3 2027, allowing continued investment in key trials [17] Other Important Information - The company presented a pooled analysis of COM701 at ESMO, demonstrating well-tolerated results and durable responses in patients with heavily pretreated platinum-resistant ovarian cancer [12][13] - The interim analysis for the Maya trial is now estimated for Q1 2027, reflecting adjustments based on enrollment and event accumulation [25] Q&A Session Summary Question: What is the reason for the delay in the Maya interim analysis? - Management indicated that the delay is due to factors such as site openings, enrollment rates, and event accumulation, with most sites now activated [22][24] Question: What are the expectations for the upcoming Arcus-Gilead readout? - Management noted that the readout will be significant for validating their hypotheses regarding FC-reduced TIGIT antibodies, regardless of the outcome [29][30] Question: What internal thresholds are being considered for the interim update from Maya ovarian? - The company is looking for a clinically meaningful improvement of up to three months above placebo in the interim analysis [38] Question: Are there any restrictions on partnering COM902? - Management confirmed that there are no restrictions on COM902, allowing for flexibility in potential partnerships [43] Question: How does the tolerability profile of COM701 influence its use in combination therapies? - Management stated that COM701 is extremely well tolerated as a monotherapy, which supports its use in combination therapies [46]