Compugen (NasdaqCM:CGEN) 2025 Conference Transcript

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]