The following is a summary of the Compugen Ltd. (CGEN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Compugen reported a cash balance of approximately $101.3 million as of Q1 2024, including a $60 million upfront payment from Gilead and a $10 million milestone payment from AstraZeneca.

• The company posted Q1 2024 revenue of $2.6 million.

• R&D expenses and G&A expenses for Q1 2024 were $6.4 million and $2.4 million respectively, down from Q1 2023.

• The reported net loss for Q1 2024 was $7.3 million or $0.08 per basic and diluted share.

Business Progress:

• Compugen has made commendable advancements in their pipeline, with expectations for multiple readouts in 2024 including COM701, COM902, and a potential IND submission for COM503.

• Compugen strategically partners with other companies, receiving upfront and milestone payments, and expecting more in the future.

• The company prioritizes treatments for ovarian and colorectal cancers based on risk profiles and resource allocation, and is considering other indication strategies for endometrial, breast, and non-small cell lung cancers.

• Compugen plans to share PVRL2 or biomarker data for future study enrichment plans, with a current focus on patients with high H scores of PVRL2.

More details: Compugen IR

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