By | May 21, 2019

Compugen Ltd. (NASDAQ:CGEN) stock observed trading -19.95% off 52-week high price. On the other end, the stock has been noted 72.50% away from low price over the last 52-weeks. The stock disclosed a move of -6.41% away from 50 day moving average and 0.77% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.17% off 20-day moving average. It has market cap of $203.52M .

Compugen Ltd. (NASDAQ:CGEN), a leader in predictive discovery and development of first-in-class therapeutics for cancer immunotherapy, reported financial results for the first quarter ended March 31, 2019.

Recent Corporate Highlights

Dosed first patient in the combination arm of Phase 1 study, combining escalating doses of COM701 with a fixed dose of Opdivo® (nivolumab) in patients with advanced solid tumors. Combination arms of the study are conducted under the clinical collaboration agreement signed with Bristol-Myers Squibb in October 2018.

Presented trial-in-progress posters at the ASCO-SITC Clinical Immuno-Oncology Symposium in January and the 2019 AACR annual meeting in April. At AACR, the Company reported that the fifth dose level patient cohort of COM701 monotherapy has been completed and that no dose-limiting toxicities were found. Clinical and laboratory assessment for safety and tolerability are ongoing for this and earlier dose level patient cohorts.

Awarded by the U.S. Patent and Trademark Office U.S. Patent No. 10,213,505, which covers the composition comprising the COM701 and the backup antibodies and U.S. Patent No. 10,227,408, which covers composition comprising an anti-PVRIG antibody having CDRs of COM701 and backup antibodies.

Published two peer-reviewed papers in Cancer Immunology Research demonstrating the role of PVRIG as a novel immune checkpoint target for cancer immunotherapy.

Financial Results

Revenues for the first quarter of 2019 were $0, compared with $10 million in the comparable period of 2018. The revenues for the first quarter of 2018 reflect the upfront payment of $10 million from the license agreement with MedImmune/AstraZeneca.

R&D expenses for the first quarter ended March 31, 2019 were $6.3 million, compared with $7.1 million for the comparable period in 2018. The decrease in R&D expenses is attributed to the cost reduction measures announced by the Company during the first quarter of 2019. Further reduction in expenses will be reflected over the course of 2019.

Net loss for the first quarter of 2019 was $8.4 million, or $0.14 per basic and diluted share, compared with a net income of $0.1 million, or $0.0 per basic and diluted share, in the comparable period of 2018.

As of March 31, 2019, cash, cash related accounts, short-term and long-term bank deposits totaled $38.2 million, compared with $45.7 million at December 31, 2018. During the three months ended March 31, 2019, the Company sold approximately 961,000 ordinary shares under its “at-the-market” (ATM) facility pursuant to a sales agreement entered into with Cantor Fitzgerald & Co. in May 2018 for aggregate proceeds of $3.4 million, net of commissions to Cantor and expenses related to the offering. The Company has no debt.

“2019 continues to be marked by strong execution and we anticipate reaching additional important milestones in the second half of the year,” said Anat Cohen-Dayag, Ph.D., President and CEO of Compugen. “Patient recruitment and site engagement in our Phase 1 study for COM701 are progressing as planned, and we now have 10 leading sites participating in our study. Enrollment in the monotherapy dose escalation arm is expected to be completed by the end of the third quarter, clearing the way for us to begin enrolling patients in the monotherapy expansion cohorts later this year. In addition, based on the progress made in the COM701 monotherapy dose escalation arm, we are confident in moving forward with the combination dose escalation arm of the study for which we expect to complete enrollment this year.”

“In parallel, we are also advancing our earlier stage pipeline focused on first-in-class molecules modulating immuno-suppressive cells in the tumor microenvironment, mainly cells from the myeloid lineage, as well as pursuing discovery efforts targeted at identifying proteins and pathways which are involved in immune resistance mechanisms to PD-1 therapies. Our goal is to generate a sustainable pipeline to ensure we have high potential first-in-class assets in addition to COM701, both for internal development as well as for additional partnering opportunities.”

The Israel based company Compugen Ltd. moved with change of -0.29% to $3.45 with the total traded volume of 100222 shares in recent session versus to an average volume of 166.75K. The stock was observed in the 5 days activity at -1.15%. The one month performance of stock was 1.77%. CGEN’s shares are at -1.43% for the quarter and driving a 6.15% return over the course of the past year and is now at 58.99% since this point in 2018.  Right now the stock beta is 2.41. The average volatility for the week and month was at 4.30% and 4.08% respectively. There are 58.99M shares outstanding and 57.48M shares are floated in market.

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Theresa Mitchell

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Theresa Mitchell studied a business degree majoring in finance and security analysis. She has a deep understanding of both technical and fundamental forms of analysis, she deeply believes that it makes a lot more sense for average investors to understand fundamental analysis, which she believes anyone can learn. Theresa has over 10 years of experience as a professional journalist, writer and an editor. She holds a bachelor’s degree in International Business from University of Melbourne. She writes articles about hot stocks, dividend growth investing, options trading, investment decisions, stock selection, portfolio management, and passive income generation. Theresa primarily reports on Hot Stocks category. Email Contact: Theresa@newsregistrar.com

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