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Compugen revenue doubles to $2.6 million
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Compugen revenue doubles to $2.6 million

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  • Compugen’s Q2 revenue increased to $2.6 million, while its net loss narrowed to $7 million.
  • Compugen shares were up 0.9% at $2.35 in premarket trading following the results.
  • Compugen said its cash could fund operations into 2029 as it advances COM701 and partnered cancer programs.

Compugen (NASDAQ:CGEN) reported Q2 revenue of $2.6 million and said its $125.3 million cash position could fund operations into 2029.

Revenue more than doubled from $1.3 million a year earlier, while the net loss narrowed to $7 million from $7.3 million.

Research spending rose to $6.3 million, while Compugen expects the MAIA-ovarian interim analysis by the first quarter of 2027.

Following the announcement, Compugen's share price was up 0.9% at $2.35 in premarket trading.

Meanwhile, AstraZeneca reported median overall survival of 16.8 months for rilvegostomig in a non-randomized biliary tract cancer study.

Elsewhere, Gilead-partnered GS-0321 remains in Phase 1 development, while Compugen continues using its Unigen platform to identify immuno-oncology targets.

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