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]

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 [15] - Revenues for Q3 2025 were approximately $1.9 million, a significant decrease from approximately $17.1 million in Q3 2024 [15] - R&D expenses for Q3 2025 were approximately $5.8 million, down from approximately $6.3 million in Q3 2024 [16] - G&A expenses for Q3 2025 were approximately $2.2 million, compared to approximately $2.6 million in the same period in 2024 [16] - 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 [16] Business Line Data and Key Metrics Changes - The company is advancing its COM701 trial for platinum-sensitive ovarian cancer, with interim analysis now expected in Q1 2027 [12][20] - 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 [7] - The partnership with AstraZeneca for Rilvegostomig, an FC-reduced anti-PD-1 TIGIT bispecific, is expected to generate substantial revenue, with peak year revenue targets exceeding $5 billion [8] Market Data and Key Metrics Changes - The company is positioned to capture market opportunities as new data emerges, particularly with readouts anticipated from 2026 [7] - The overall survival data from recent trials indicates a median overall survival of 27 months for FC-reduced formats, compared to benchmarks of 15 months or less [8] Company Strategy and Development Direction - The company emphasizes its focus on computational drug target discovery and digital biology, aiming to deliver significant value for patients [4] - The strategy includes five key value drivers, with a strong emphasis on FC-reduced TIGIT programs and the potential of COM902 [7] - The company is committed to delivering breakthroughs in cancer treatment, leveraging its AI/ML-powered discovery engine [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong fundamentals and strategic direction, particularly in the context of evolving clinical data [4] - The management team highlighted the importance of safety and efficacy in their drug development approach, particularly regarding the FC-reduced formats [6] - The company anticipates that the cash runway will support operations into Q3 2027, allowing continued investment in clinical trials and early-stage pipeline development [15][20] Other Important Information - The company presented a pooled analysis of COM701 at ESMO, demonstrating its clinical benefit in heavily pretreated platinum-resistant ovarian cancer [11] - The ongoing Maya ovarian platform trial is seen as a significant opportunity to address unmet medical needs in the treatment of ovarian cancer [12] Q&A Session Summary Question: What caused the extension of the Maya interim analysis to Q1 2027? - The extension is due to factors such as site openings, enrollment rates, and the accumulation of PFS events [17][18] Question: What are the expectations for the upcoming Arcus-Gilead readout with their TIGIT in gastric cancer? - The readout is significant as it will be the first phase three readout for an FC-reduced TIGIT antibody, and its success could validate the company's hypotheses [21][22] Question: What internal thresholds are being looked for from the interim update from Maya ovarian? - The trial is exploratory, aiming to demonstrate single-agent activity, with an improvement of up to three months above placebo being clinically meaningful [25] Question: Can COM902 be partnered with another company despite the license agreement with AstraZeneca? - The company retains full ownership of COM902 and has no restrictions on pursuing partnerships, allowing for flexibility in future collaborations [27] Question: How does the tolerability profile of COM701 influence its use in combination therapies? - COM701 is well tolerated as a monotherapy, which supports its potential use in combination therapies with standard care agents [29]

Core 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].

Core Insights - Compugen Ltd. is a clinical-stage cancer immunotherapy company that utilizes AI/ML for predictive computational drug target discovery [3][4] - The company will participate in a fireside chat at the Stifel 2025 Healthcare Conference on November 11, 2025 [1] - Compugen has two proprietary product candidates in Phase 1 development: COM701 and COM902, targeting cancer treatment [3] Company Overview - Compugen is headquartered in Israel with additional offices in San Francisco, CA [3] - The company is listed on Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN [3] - Compugen's therapeutic pipeline includes early-stage immuno-oncology programs aimed at activating the immune system against cancer [3] Upcoming Events - A live webcast of the fireside chat will be available on the Investor Relations section of Compugen's website [2] - A replay of the event will also be accessible after the live session [2] Product Development - COM701 is a potential first-in-class anti-PVRIG antibody, while COM902 is a potential best-in-class 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]

Core Insights - Compugen Ltd. is set to release its third quarter 2025 financial results on November 10, 2025, before U.S. markets open, followed by a conference call at 8:30 AM ET to discuss the results and provide a corporate update [1]. Company Overview - Compugen is a clinical-stage cancer immunotherapy company that utilizes a predictive AI/ML-powered computational discovery platform named Unigen to identify new drug targets and biological pathways for cancer immunotherapies [3]. - 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 [3]. - Rilvegostomig, a PD-1/TIGIT bispecific antibody, is in Phase 3 development by AstraZeneca under a licensing agreement, while GS-0321, an anti-IL-18 binding protein antibody, is also in Phase 1 development and licensed to Gilead [3]. - Compugen's therapeutic pipeline includes early-stage immuno-oncology programs aimed at activating the immune system against cancer [3]. - 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 [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]