Compugen Unveils Promising Progress in Cancer Immunotherapy and Financial Stability

Compugen Reports First Quarter 2025 Results

HOLON, Israel – May 19, 2025 – Compugen Ltd. (Nasdaq: CGEN, TASE: CGEN), a clinical-stage cancer immunotherapy firm known for its innovative approach to drug discovery, has released its financial results for the first quarter of 2025 while also providing an insightful update on its ongoing programs.

In a statement, Dr. Anat Cohen-Dayag, President and CEO of Compugen, expressed enthusiasm about the company’s advancements in its clinical pipeline. "We have commenced the first site activation of our randomized placebo-controlled trial to evaluate the efficacy of our novel COM701 maintenance therapy for patients suffering from relapsed platinum-sensitive ovarian cancer. We anticipate beginning patient dosing soon and expect to activate more sites subsequently. Furthermore, we are progressing with our Phase 1 trial of GS-0321, potentially a groundbreaking anti-IL18BP antibody licensed from Gilead."

Compugen’s commitment to advancing cancer treatments is clearly demonstrated by its collaborations with partners like AstraZeneca, which is expanding its rilvegostomig program. This program now boasts ten active Phase 3 trials across various cancer types including lung, gastrointestinal, and endometrial cancers. Dr. Cohen-Dayag noted, "The success of rilvegostomig, a bispecific antibody combining PD-1 and TIGIT, is promising, as AstraZeneca aims to provide alternatives to existing PD(L)-1 inhibitors, paving the way for significant future revenue for Compugen through milestone payments and tiered royalties on sales."

From a financial perspective, Compugen remains on solid ground with resources expected to extend its operational capacity into 2027. As of March 31, 2025, the company reported approximately $103.7 million in cash and equivalents, highlighting a robust financial position devoid of debt.

Throughout the first quarter, Compugen recorded revenues of about $2.3 million, facing a slight decrease compared to the previous year. R&D expenditures were approximately $5.8 million, while operational costs tallied around $8.3 million, contributing to a reported net loss of approximately $7.2 million or $0.08 per share. Nevertheless, the sustainability of the cash balance reflects confidence in future growth, particularly in therapeutic developments powered by its proprietary computational discovery platform, Unigen™.

Upcoming milestones include anticipated data presentations by AstraZeneca at the ASCO 2025 conference, where they will unveil early findings from two Phase 2 trials involving rilvegostomig as a combination therapy in advanced lung and biliary tract cancers.

In terms of personnel changes, significant leadership transitions are set for September 2025, with Dr. Cohen-Dayag becoming Executive Chair, while Dr. Eran Ophir, currently the Chief Scientific Officer, will step up as President and CEO. Such changes are aimed at bolstering the company’s strategic direction moving forward.

With a focused roadmap ahead and financial backing solidifying its pursuits, Compugen is poised to make substantial contributions to the field of cancer immunotherapy, paving the way for potentially life-saving treatments in the near future.

For those interested in further details about Compugen’s vision, outcomes, and trajectory, the company is holding a conference call today at 8:30 AM ET to delve into these outcomes. Access is available via telephone and live webcast on the company’s website, fostering transparency and engagement with stakeholders.

About Compugen
Compugen is a pioneering organization dedicated to the therapeutic discovery and development of cancer immunotherapies, utilizing advanced computational techniques to identify prospective drug targets. With ongoing trials and a commitment to innovation, it stands out as a leader in its field, looking towards a future where it can meaningfully impact cancer treatment outcomes.

Contact Information:
Yvonne Naughton, Ph.D.
Head of Investor Relations and Corporate Communications
Email: contact@compugen.com
Tel: +1 (628) 241-0071