Core Insights - Compugen Ltd. is a clinical-stage cancer immunotherapy company that utilizes AI/ML driven predictive computational research to enhance understanding of complex cancer biology [1][2]. Group 1: Conference Presentations - Compugen will present at the 2025 Annual Congress of the European Association for Cancer Research in Lisbon, Portugal, from June 16-19, with a poster titled "Prediction of immune evasion and immunotherapy resistance mechanisms associated with distinct TNBC subtypes" [2]. - Another presentation will occur at the International Society for Computational Biology and European Conference on Computational Biology in Liverpool, UK, from July 20-24, featuring a poster titled "Computational prediction of TNBC tumor subtypes from an integrative single cell atlas elucidates immune evasion and immunotherapy resistance mechanisms" [2]. Group 2: Company Overview - Compugen employs a predictive computational discovery platform (UnigenTM) to identify new drug targets and biological pathways for cancer immunotherapy development [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 [3]. - GS-0321, a high affinity 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 enhancing anti-cancer immunity [3].

Company Overview - Compugen Ltd. is a clinical-stage cancer immunotherapy company specializing in computational target discovery [3] - The company utilizes its predictive computational discovery platform, UnigenTM, to identify new drug targets and biological pathways for cancer immunotherapies [3] - 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] Upcoming Events - Compugen will participate in several virtual investor conferences in April 2025, including: - H.C. Wainwright 2nd Annual AI Based Drug Discovery & Development Conference on April 2, 2025, with a fireside chat at 9:30 am ET [1] - 24th Annual Needham Virtual Healthcare Conference on April 7, 2025, with a fireside chat at 8:00 am ET [2] - Stifel's 2025 Virtual Targeted Oncology Forum on April 9, 2025, with a fireside chat at 12:00 pm ET [2] - Live webcasts of the fireside chats will be available on Compugen's Investor Relations website, with replays accessible after the events [2] Product Development - Rilvegostomig, a PD-1/TIGIT bispecific antibody, is in Phase 3 development by AstraZeneca under a license agreement [3] - GS-0321 (previously COM503), an anti-IL-18 binding protein antibody, is in Phase 1 development and licensed to Gilead [3] - The company has a pipeline of early-stage immuno-oncology programs aimed at enhancing anti-cancer immunity [3]

Financial Data and Key Metrics Changes - As of December 31, 2024, the company had approximately $103.3 million in cash, cash equivalents, short-term bank deposits, and investments in marketable securities, which includes a $60 million upfront payment from Gilead and a $30 million milestone payment for IND clearance [23] - The company reported approximately $1.5 million in revenues for Q4 2024 and approximately $27.9 million for the full year 2024, compared to approximately $33.5 million for the same periods in 2023 [24] - R&D expenses for Q4 2024 were approximately $5.9 million, down from approximately $10.9 million in Q4 2023, while total R&D expenses for the year were approximately $24.8 million compared to $34.5 million in 2023 [25] - The net loss for Q4 2024 was approximately $6.1 million, or approximately $0.07 per share, compared to a net income of approximately $9.7 million, or approximately $0.11 per share, in Q4 2023 [26] Business Line Data and Key Metrics Changes - The company is advancing the development of COM701 as a maintenance treatment option for patients with platinum-sensitive ovarian cancer, with plans to initiate a randomized, double-blinded sub-trial in Q2 2025 [8][9] - GS-0321, a potential first-in-class anti-IL-18 binding protein antibody, has progressed with a Phase I trial initiated in early January 2025, following a $30 million milestone payment from Gilead for FDA IND clearance [18] Market Data and Key Metrics Changes - The company noted that the TIGIT antibody class faced setbacks in 2024, leading to skepticism about the efficacy of TIGIT blocker combinations, but emphasized the potential of Fc inactive anti-TIGIT antibodies [11][12] - AstraZeneca has initiated multiple Phase III trials for rilvegostomig, which is derived from the company's COM902, representing a significant potential revenue source through milestone payments and royalties [15] Company Strategy and Development Direction - The company aims to leverage its computational discovery platform, Unigen, to identify novel ways to activate antitumor immunity and advance its pipeline [19][20] - The strategic priority for 2025 includes efficient execution of clinical trials and continued investment in early-stage research, with a cash runway expected to last into 2027 [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, highlighting the potential impact of their clinical programs on cancer patients' lives and the importance of their extraordinary team [21] - The company is focused on advancing its programs and believes it is well-positioned for growth, despite the competitive landscape in the oncology sector [20] Other Important Information - The company has a solid balance sheet with no debt and a cash runway to support its operating plans into 2027 [22] Q&A Session Summary Question: Inquiry about AstraZeneca's Phase III study design - Management stated they cannot comment on AstraZeneca's unpublished plans but are pleased with the initiation of pivotal trials [30] Question: Expectations for near-term data from AstraZeneca - Management indicated that AstraZeneca plans to present data during 2025 from the combination of rilvegostomig with ADCs [32] Question: Design of the ovarian study and its statistical power - The study is exploratory and not powered for full pivotal trial analysis, using Bayesian statistics to evaluate improvement probabilities [37][38] Question: Balance between study arms and patient eligibility criteria - The study will enroll patients who are not recommended for standard maintenance treatments, ensuring a more well-defined patient population [42] Question: Rate of enrollment in the studies - Management expects a rapid enrollment rate due to limited clinical trials available for the specific patient population [65] Question: Interim analysis triggers and futility thresholds - The interim analysis will be event-driven and based on follow-up, with a futility boundary established for evaluation [72][73]