Compugen Ltd (CGEN) Q1 2025 Earnings Call Highlights: Strategic Advances Amid Revenue Decline
Cash Balance: Approximately $103.7 million as of March 31, 2025.
Revenue: Approximately $2.3 million for Q1 2025, compared to $2.6 million in Q1 2024.
R&D Expenses: Approximately $5.8 million for Q1 2025, compared to $6.4 million in Q1 2024.
G&A Expenses: Approximately $2.4 million for both Q1 2025 and Q1 2024.
Net Loss: Approximately $7.2 million or $0.08 per share for Q1 2025, compared to $7.3 million or $0.08 per share in Q1 2024.
Cash Runway: Expected to fund operating plans into 2027.
Warning! GuruFocus has detected 3 Warning Signs with CGEN.
Release Date: May 19, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Compugen Ltd (NASDAQ:CGEN) has initiated a sub-trial for their anti-PVRIG antibody COM701 in ovarian cancer, targeting an unmet medical need.
The company has a strong cash position with a runway extending into 2027, supporting their clinical and research activities.
Compugen Ltd (NASDAQ:CGEN) is advancing its early-stage and clinical immuno-oncology pipeline, focusing on innovative therapies.
Partnership with AstraZeneca is progressing, with multiple Phase 3 trials initiated, potentially leading to significant revenue opportunities.
The company is exploring novel mechanisms of action in their early-stage pipeline, aiming to enhance anticancer immunity.
Revenues for the first quarter of 2025 decreased compared to the same period in 2024.
The company reported a net loss of approximately $7.2 million for the first quarter of 2025.
There is uncertainty in the TIGIT landscape, with previous Phase 3 failures impacting market sentiment.
The success of Compugen Ltd (NASDAQ:CGEN)'s TIGIT program is contingent on positive outcomes from upcoming Phase 3 trials.
The competitive landscape in ovarian cancer is evolving, with new therapies potentially impacting Compugen Ltd (NASDAQ:CGEN)'s strategy.
Q: Merck's KEYNOTE-B96 Phase 3 study in pembrolizumab for platinum-resistant ovarian cancer was successful. How might this impact your strategy in ovarian cancer? A: Michelle Mahler, Chief Medical Officer: The study is in a different setting, but it shows benefit from adding an immune checkpoint inhibitor. If our study demonstrates activity, it could open opportunities to combine COM701 in broader populations.
Q: What is your interpretation of Roche's SKYCRAPER-01 data, and how does it affect your confidence in TIGIT antagonism? A: Eran Ophir, Vice President - Research, Drug Discovery: Despite the failure, we see numerical activity in TIGIT trials. The Fc active format may have contributed to high discontinuation rates. We believe Fc inactive antibodies, like ours, may offer safety and efficacy advantages.
Q: Do you plan to collect data on tumor microenvironment features in the COM701 study? What PFS benefit would be clinically meaningful in the maintenance setting? A: Michelle Mahler, Chief Medical Officer: We will collect data on the tumor microenvironment but won't disclose details. An improvement of around three months in progression-free survival would be clinically meaningful.
Q: Have you observed activity of COM701 in PD-L1 positive patients, and what are your thoughts on PD-1 VEGF bispecifics? A: Michelle Mahler, Chief Medical Officer: We see activity in both PD-L1 positive and negative patients. Eran Ophir, Vice President - Research, Drug Discovery: VEGF increases T cell infiltration, complementing PVRIG biology. Fc inactive TIGIT may be preferable for combinations due to safety concerns.
Q: What are your thoughts on the potential synergy between TIGIT, PD-1, and VEGF inhibitors? A: Eran Ophir, Vice President - Research, Drug Discovery: VEGF can enhance T cell infiltration, aligning with PVRIG biology. While we haven't published data, combining with Fc inactive TIGIT could be advantageous due to safety profiles.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.
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