Loading...
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call presents several concerns: declining revenue and increased net loss, reliance on milestone payments, and negative market sentiment in the TIGIT space. The Q&A section highlighted management's reluctance to provide details, adding uncertainty. Despite a solid cash balance, the financial outlook is weak, with decreased revenue and increased competition in the ovarian cancer treatment market. These factors suggest a negative sentiment, likely leading to a stock price decline of -2% to -8% over the next two weeks.
Cash Balance $93.9 million as of June 30, 2025, with a cash runway expected to fund operations into 2027. This reflects a solid financial position.
Revenue $1.3 million for Q2 2025, a decrease from $6.7 million in Q2 2024. The decline is due to differences in milestone payments and upfront payments recognized from agreements with Gilead and AstraZeneca.
R&D Expenses $5.6 million for Q2 2025, a decrease from $6.2 million in Q2 2024. The reduction aligns with planned expenses.
G&A Expenses $2.2 million for both Q2 2025 and Q2 2024, showing no year-over-year change.
Net Loss $7.3 million for Q2 2025, compared to $2.1 million in Q2 2024. The increase in net loss is attributed to lower revenues in Q2 2025.
COM701: First patient dosed in MAIA-ovarian trial for platinum-sensitive ovarian cancer. Interim analysis expected in H2 2026. Aims to address unmet medical need with no standard of care for patients progressing post PARP inhibitors or bevacizumab.
rilvegostomig: AstraZeneca advancing rilvegostomig with potential commercial opportunity of over $5 billion in peak year revenues. Compugen eligible for milestone payments and royalties.
GS-0321: Phase I trial progressing as planned. Represents a novel approach to harness IL-18 pathway biology for cancer treatment.
TIGIT landscape: Potential for TIGIT antibodies to expand use in less inflamed PD-L1 low tumors. AstraZeneca advancing rilvegostomig in multiple trials, including Phase III.
Cash position: $93.9 million in cash as of June 2025, with expected runway into 2027.
Revenue: Q2 2025 revenue of $1.3 million, down from $6.7 million in Q2 2024 due to differences in milestone payments.
Leadership transition: Anat Cohen-Dayag transitioning to Executive Chair role, focusing on corporate strategy and collaborations. Eran Ophir to take over as CEO.
Increased competition in ovarian cancer treatment: The company faces increased competition in the platinum-resistant ovarian cancer treatment space, which could impact the market potential of its COM701 therapy.
Safety and efficacy challenges: In the maintenance setting for platinum-sensitive ovarian cancer, safety and efficacy are critical considerations, which could pose challenges in demonstrating the advantage of COM701.
Dependence on milestone payments and royalties: The company relies on milestone payments and royalties from partnerships with AstraZeneca and Gilead, which are subject to the success of their respective programs.
TIGIT program market sentiment: Failures in the TIGIT space have created negative market sentiment, which could impact the perception and potential of Compugen's TIGIT-related programs.
Revenue decline: Revenues for Q2 2025 were significantly lower compared to Q2 2024, reflecting a decline in milestone payments and upfront payments from partnerships.
Cash runway dependency: The company’s cash runway is dependent on no further cash inflows, which could limit its ability to fund operations beyond 2027 if additional funding is not secured.
COM701 Clinical Development: The first patient was dosed in the MAIA-ovarian trial for platinum-sensitive ovarian cancer. Interim analysis from this sub-trial is expected in the second half of 2026. Positive data could support a broader clinical development program.
TIGIT Landscape and COM902: AstraZeneca is advancing rilvegostomig, a TIGIT bispecific derived from Compugen's COM902, with a potential commercial opportunity of over $5 billion in peak year revenues. Compugen is eligible for milestone payments and royalties. Successful Phase III data could validate TIGIT antibodies as a drug class and open new opportunities for Compugen.
GS-0321 Development: The Phase I trial for GS-0321, an anti-IL-18 binding protein antibody licensed to Gilead, is progressing as planned.
Cash Runway and Financial Plans: The company has a cash runway expected to fund operations into 2027, supporting the COM701 trial, GS-0321 progression, and early-stage pipeline investments.
The selected topic was not discussed during the call.
The earnings call reveals significant challenges: declining revenues, a shift from profit to loss, and reliance on partnerships and milestone payments. Safety concerns with anti-TIGIT antibodies and competition in the market add risks. The Q&A section highlights uncertainties in trial timelines and outcomes, further dampening sentiment. Despite potential opportunities with COM902 and a cash runway until 2027, the overall financial and strategic outlook suggests a negative market reaction.
The earnings call presents several concerns: declining revenue and increased net loss, reliance on milestone payments, and negative market sentiment in the TIGIT space. The Q&A section highlighted management's reluctance to provide details, adding uncertainty. Despite a solid cash balance, the financial outlook is weak, with decreased revenue and increased competition in the ovarian cancer treatment market. These factors suggest a negative sentiment, likely leading to a stock price decline of -2% to -8% over the next two weeks.
The earnings call presents a mixed picture. While there are positive developments, such as the partnership with AstraZeneca and a strong cash runway, there are also concerns like missed earnings expectations, leadership transition risks, and revenue decline. The Q&A section highlights management's cautious approach, particularly in providing specific details, which may not inspire strong investor confidence. Given the lack of clear catalysts for a significant price movement and the balanced pros and cons, a neutral sentiment is justified.
The earnings call summary indicates mixed signals. Financial performance shows a decline in revenue but improved net loss, while the cash runway is solid. Product development is progressing, but leadership transition and competitive pressures pose risks. The Q&A reveals cautious optimism regarding strategic opportunities and ongoing trials. Given the absence of a market cap, the stock's reaction is uncertain, aligning with a neutral sentiment.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.