Compugen Ltd. (CGEN), a clinical-stage cancer immunotherapy company, reported financial results for the first quarter of 2026 and provided updates for its investigational candidates.
Company Profile
Compugen uses Unigen, its AI/ML-powered computational discovery platform, to identify novel drug targets and develop therapeutics in cancer immunotherapies. Compugen's innovative immuno-oncology pipeline comprises four clinical-stage programs, namely COM701, COM902, Rilvegostomig, and GS-0321 (previously COM503). And Rilvegostomig and GS-0321 are partnered programs
Compugen is currently conducting a blinded randomised ovarian cancer platform trial evaluating COM701 as a single agent in maintenance therapy in relapsed platinum-sensitive ovarian cancer, named the MAIA-ovarian trial.
First Quarter Results
Net loss expanded to $7.67 million, or $0.08 per share, compared with a net loss of approximately $7.18 million, or $0.08 per share, in the last year.
Revenue for the first quarter slipped to $2.18 million from $2.28 million in the prior year. The reported revenues reflect both the upfront payment and the IND milestone payment under the license agreement with Gilead.
As of March 31, 2026, Compugen had approximately $134.9 million in cash, cash equivalents, short-term bank deposits, and investments in marketable securities.
Based on the current plan, the firm expects the cash runway to fund operations into 2029.
Near-Term Milestones
MAIA-ovarian trial evaluating COM701 is actively enrolling patients across all clinical sites in the U.S., Israel, and France, and the interim analysis is on track for the first quarter of 2027, according to the firm.
In addition, the firm noted that its partner, AstraZeneca, is advancing Rilvegostomig across 11 ongoing Phase 3 trials and presented clinical and preclinical data at AACR 2026, including Phase 2 data in HER2-positive gastric cancer dubbed DESTINY-Gastric03, and new data is expected to be released at ASCO 2026.
In addition, the Gilead-partnered GS-0321 Phase 1 trial continues to progress as planned.
CGEN has traded between $1.30 and $3.24 over the last year. CGEN closed Friday's trade at $2.75. CGEN is currently up 4.18% at $2.86.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.