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perhaps I can get a slightly larger pullback so I can my toes wet with this one
GREAT news and what a ride this ones having! Any price targets? Thoughts? Is it gonna keep going?? Buying picking up heavily EOD here
Compugen Ltd. (CGEN, $5.61, +$1.53, +37.50%) unveiled a new drug target for multiple epithelial tumors, or carcinomas, which the drug-development company said could lead to improved cancer treatments.
7:02AM Compugen discovers drug target for treatment of epithelial tumors (CGEN) 4.08 : Co announced the discovery and experimental validation of CGEN-671, a new drug target for multiple epithelial tumors. The potential application of CGEN-671 as a drug target was initially predicted in silico by Compugen through the use of its Monoclonal Antibody Targets Discovery Platform; the predicted molecule was then validated experimentally in multiple epithelial tumors. Co has filed patent applications covering this novel splice variant and its various therapeutic and diagnostic utilities. Initial experimental studies confirmed the existence of the predicted CGEN-671 transcript (mRNA) and demonstrated that, compared with normal tissue samples, it is highly expressed in colon carcinoma tissue. Furthermore, in these mRNA experiments, CGEN-671's expression level in various healthy tissues was up to 200 times lower than the expression level of the previously known cancer target CD55, suggesting that the Compugen discovered splice variant should be a superior drug target candidate for cancer treatment. In addition, the in silico prediction of CGEN-671 identified a unique sequence present in CGEN-671's extracellular domain that is not present in CD55. This sequence allows for the development of antibodies that specifically bind to CGEN-671 and do not recognize CD55
Cantor Fitzgerald report:
This morning, before the open, Compugen announced an agreement with Pfizer
(NYSE: PFE, NC) for paid access to its Predictive Peptide Discovery Platform
— Discovery on Demand — for three drug targets. Compugen anticipates
delivery of product candidates within a few months and Pfizer has the option to
exercise worldwide exclusive royalty-bearing licenses with milestone
payments.
Recall, Compugen recently entered into a similar collaboration with Bayer
Schering Pharma for an oncology target and splice variants discovered by
Compugen using its Monoclonal Antibody (mAb) Targets Discovery Platform
— one of a portfolio of 10 in silico predictive platforms developed by
Compugen — using a biocomputational approach that has been experimentally
validated.
We think Compugen's predictive platform portfolio can streamline
identification/validation of relevant biomarkers/therapeutic targets — a
paradigm shift in discovery/development programs that can mitigate risk,
condense timelines, and exponentially increase pharmas' output of both
diagnostics and therapeutics.
This rational approach to discovery — predictive biology pioneered by
Compugen — is the source of its therapeutic pipeline of eight product
candidates. We expect Compugen to enter into additional alliances in the next
6-12 months.
We think Compugen's predictive platforms can impart selectivity and speed to
pharma/dx companies — a significant and relevant competitive advantage for
pipeline-starved companies — to condense discovery/development timelines
plus provide a vast store of improved therapeutics and diagnostics. We reiterate
our BUY rating.
https://cantor.bluematrix.com/docs/pdf/0f6ce9f5-401c-483d-8fdc-c4c6068d2111.pdf
UPDATE 2-Compugen shares nearly double on Pfizer deal
* Says Pfizer interested in three drug targets
* Pfizer will have right to exercise options for milestones
* Compugen shares jump as much as 96 pct to near 5-year high (Adds details, share movement)
Dec 23 (Reuters) - Shares of Compugen Ltd (CGEN.O) jumped as much as 96 percent after the drug developer said it entered into a collaboration deal with Pfizer Inc (PFE.N) to develop peptide products for three drug candidates.
The process, based on Compugen's discovery platforms and funded by Pfizer as part of the "discovery on demand" deal, is expected to take a few months, Compugen said.
Following an evaluation process, Pfizer will have the right to exercise options for worldwide exclusive milestone and royalty bearing licenses to develop and commercialize the selected product candidates, it said.
On Monday, Pfizer bought the rights to Athersys Inc's (ATHX.O) stem-cell therapy to treat inflammatory bowel disease. Athersys shares shot up over the next two days to end at $5.55 on Tuesday, up from Friday's close of $1.00.
Shares of Compugen, which were one of the top percentage gainers on Nasdaq on Wednesday, were up 73 percent at $4.92 in high-volume morning trade after touching a nearly five-year high of $5.58. (Reporting by Shailesh Kuber in Bangalore; Editing by Deepak Kannan
http://www.reuters.com/article/idCNSGE5BM0IY20091223?rpc=44
Amazing run just like ATHX's over $5.00.. Pfizer's decisons made difference for both cos..
7:02AM Compugen announces "discovery on demand" therapeutic peptide collaboration with Pfizer (CGEN) 2.84 : Co announces that it has signed a collaboration agreement with Pfizer for the predictive discovery by Compugen of therapeutic peptide product candidates for three drug targets of interest to Pfizer. The discovery process, which will be based on various Compugen discovery platforms and funded by Pfizer, is expected to take a few months, following which the predicted molecules will be synthesized and delivered to Pfizer. Following an evaluation period, Pfizer will have the right to exercise options for worldwide exclusive milestone and royalty bearing licenses to develop and commercialize the selected product candidates or further optimize them to obtain final potent, selective product candidates with favorable pharmacokinetic properties.
I see. So, let me know when it's salable again.
Babylon says unsalable or nonsalable, but better ask our cheif editor - Roy.
I own some in my unsellable (unsaleable?) portfolio.
Noticed a big jump when they sold some of their Evogene shares. Apart from that cash infusion there was a change of CEO and a couple of scientific results, all preclinical. I'm not following ver closely. Are you holding them?
Notice the sharp climb of pps lately?
Anything of value happening?
Teva to use Compugen biomarkers
Compugen's share jumped as it said it will commercialize the biomarkers later this year.
Globes correspondent24 Mar 09 14:43
Drug discovery system developer Compugen Ltd. (Nasdaq: CGEN; TASE:CGEN) reported today that Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) has exercised its option to utilize the biomarkers, discovered by Compugen, for early detection of drug-induced kidney toxicity. This biomarker combination was discovered during collaboration between the two companies.
Compugen also announced its plans to commercially introduce the markers through licensing arrangements during the second half of this year.
Following the announcement Compugen's share rose 24.5% by early afternoon trading on the TASE to NIS 2.45. The share closed at $0.49 on Nasdaq yesterday, giving a market cap of $14 million.
Under the terms of the collaboration with Teva, initiated in 2007, Compugen conducted a discovery process utilizing its proprietary computational tools, discovery engines and nucleic acid testing platforms as well as data derived from biological samples collected by Teva in a preclinical study. The business terms for the collaboration provided Teva with the royalty-free right to use any discovered markers for internal research and development activities. Compugen retained the commercialization rights for licensing such markers to other companies, as well as rights for internal use.
Validation results demonstrate that the biomarker signature may enable a much earlier prediction of drug-induced kidney toxicity during pre-clinical trials in rats in comparison with traditional diagnostic methods such as histopathology or clinical chemistry. In addition, the biomarker combination successfully predicted the relative levels of toxicity of the compounds that were tested.
Current tools for diagnosis of kidney function involve blood tests, such as blood urea nitrogen and serum levels, which show significant results only after substantial kidney injury has occurred. The pharmaceutical industry spends considerable amounts of money, time and effort trying to detect toxic drug effects as early as possible in order to avoid the incorporation of such drug candidates into more expensive drug development stages. Since the kidney is one of the primary sites of drugs toxicity, early detection of kidney toxicity in the preclinical stage of drug development is an important unmet need.
Published by Globes [online], Israel business news - www.globes-online.com - on March 24, 2009
Compugen share jumps on positive peptide results
The peptide showed positive therapeutic effects in an animal model of pulmonary fibrosis.
Yael Gruntman17 Mar 09 18:49
Compugen Ltd. (Nasdaq: CGEN; TASE:CGEN) today reported that its petide CGEN-250009 showed positive therapeutic effects in an animal model of pulmonary fibrosis. The Relaxin receptor is the third G-protein coupled receptor for which Compugen-discovered peptides have shown therapeutic potential in disease models.
Compugen's share rose 11.4% on the news to $0.49 in morning trading on Nasdaq today, giving a market cap of $13.97 million.
Compugen VP R&D Dr. Anat Cohen-Dayag said, “These results suggest that CGEN-25009 prevents pulmonary fibrosis in a disease animal model and therefore could have a potential therapeutic utility to treat pulmonary fibrosis and other fibrosis related conditions, such as chronic renal failure.”
Professor Daniele Bani from the University of Florence, Italy, who performed the animal study and is a recognized world expert in this field added, “To my knowledge, this would be the first report on the therapeutic effectiveness of an analogue of Relaxin. In view of the increasing interest in Relaxin as a possible drug and considering the problems inherent in producing enough of this hormone at a reasonably low cost, it could be foreseen that such information would be enthusiastically welcomed.”
Pulmonary fibrosis is a devastating incurable condition, the cause for which is unknown in most cases. It is estimated to affect more than five million people worldwide with tens of thousands of new cases every year in the US. More than 60% of patients diagnosed with the condition survive less than five years.
In 2007, Compugen announced the development of its GPCR Ligand Discovery Platform and its subsequent validation through the prediction and selection of several novel peptides that specifically activate various GPCRs.
Compugen CTO Dr. Yossi Cohen added, “The growing body of positive results for the initial peptides predicted by our GPCR Ligand Discovery Platform is extremely encouraging. In February of last year we announced positive in-vivo results for two peptide ligands of the MAS GPCR indicating cardio-protective effects and therapeutic potential for the treatment of various cardiovascular diseases. These results were presented at the VII International Symposium on Vasoactive Peptides. In addition, a few months ago we announced the signing of a collaboration agreement with Merck KGaA, acting for its pharmaceutical division Merck Serono, covering a peptide ligand for the FPRL1 GPCR, which was shown in experimental studies to have potential to treat inflammatory diseases and other indications.”
Published by Globes [online], Israel business news - www.globes-online.com - on March 17, 2009
Compugen Has No Intention of Issuing Equity at Current Market Value
Company Estimates That Existing Resources Are Sufficient to Fund Planned Operations for Approximately One and a Half Years
Compugen (NASDAQ:CGEN)(TASE:CGEN)announced today that it has no intention of issuing equity at the company’s current market value. This statement was made in response to questions from shareholders and others.
Mr. Martin Gerstel, chairman of Compugen stated, “We have made no announcements that would account for the substantial decline in the price of our shares during the past few days. However, in discussions with shareholders and others, a great deal of concern has been raised that the Company’s financial situation would require it to seek additional capital during the next few months regardless of market conditions or the price of its shares. This is not correct. The Company has cash on hand and marketable securities, including the Evogene shares owned by Compugen, that we estimate would be sufficient to fund the Company’s currently planned operations well into 2010.”
Mr. Gerstel continued, “Compugen’s planned operations for 2009, which include certain changes due to the current situation, will be outlined by me in a presentation next Wednesday, November 12th at the Rodman and Renshaw Healthcare Conference. Also, in order to avoid any misunderstanding with respect to the 2,150,000 Evogene shares held by the Company, we view these shares as an excellent long term investment and have no interest or plans to sell them. However, they do represent a potential source of cash should that become necessary.”
Compugen Announces Discovery Engine for Identifying Existing Drugs with Predicted New Indications
Tuesday July 31, 7:09 am ET
Nine Therapeutic Candidates Now Undergoing Validation
TEL AVIV, Israel--(BUSINESS WIRE)--Compugen Ltd. (NASDAQ:CGEN - News) announced today the development of a new discovery engine for the identification of existing drug molecules that are predicted to have important therapeutic indications that are currently not known, and the selection of nine product candidates from the initial use of this engine.
The initial use of the discovery engine by Compugen resulted in the identification of over 100 potential new therapeutic products based on new indications for existing drugs. After applying various criteria, including an intensive intellectual property review process, nine new therapeutic candidates with indications that differ substantially from the indications already approved or known for the underlying chemical entities were selected for in vitro and in vivo studies. To date, three of these novel therapeutic candidates have successfully completed in vitro screening and have been advanced to in vivo studies.
The tremendous commercial and medical value in finding new indications for existing drugs has been well recognized by the industry for many years. One very important advantage of this approach is that it may be possible to advance from demonstration of efficacy in vivo directly to Phase II clinical trials, since in many cases safety will have already been established. For this reason, a number of companies have been very active in this area.
Compugen's new discovery engine analyzes an enormous amount of information and raw data from many different experimental and drug and disease specific sources, including gene expression from tens of thousands of human chip experiments, known or predicted protein networks, gene regulation data, known or predicted associations between genes and pathologies and other experimental results. This new engine allows the integrated analysis of this plethora of information utilizing one comprehensive computational biology platform, thus allowing the linking of experimental results and other data and knowledge from a great many disease areas.
Product discovery efforts by others in this area have focused on "drug repositioning", that is, attempts to find a possible new indication for a specific drug. This usually involves some form of high throughput experimentation whereby the drug of interest is screened in a variety of different disease and/or tissue conditions. In comparison, the Compugen in silico discovery platform described above is designed to lead to the identification of those drugs predicted to have new indications from amongst all available drugs either in commercial use or undergoing clinical trials.
When desired, the Compugen approach could be directed to find new uses for specific drugs. However, when focusing the discovery efforts on one specific drug as in traditional drug repositioning, it is of course extremely unlikely that this drug of interest will provide the best - or even an acceptable - new medical and commercial opportunity - compared with the likelihood of such an outcome when considering new indications for any existing drug. In addition, if a new potential indication is identified for the drug of interest in drug repositioning, there is no reason to expect that this specific drug will be the best available drug for that new indication.
Compugen's new discovery engine is based in large part on a recently developed computational biology platform, called MED, which allows the integration and subsequent querying of data of multiple types and sources. Now that this platform is available, the plan is to continue to update it with new data as it becomes available, and then to continue to repeat new indications discovery runs with the enhanced engine. In addition, this very powerful and unique platform is currently being utilized in certain other engine development programs at Compugen.
"As with our other programs and discovery engines - for example our recently announced engine for discovering therapeutic candidates for modulating GPCR's - this new therapeutics discovery engine replaces a largely experimental discovery process with a process consisting of in silico prediction followed by experimental validation," said Yossi Cohen, M.D., Compugen's Vice President of Research and Development. "By doing this, we have once again shown the ability to develop platforms which make important diagnostic and therapeutic discoveries - in this case existing drugs that are likely to have novel indications - through a systematic and hypothesis driven process, which I expect to get better and better with time," Dr. Cohen concluded.
http://biz.yahoo.com/bw/070731/20070731005641.html?.v=1
Compugen Reports First Quarter 2007 Financial Results
via COMTEX
May 1, 2007
TEL AVIV, Israel, May 01, 2007 (BUSINESS WIRE) --
Compugen Ltd. (NASDAQ:CGEN) today reported financial results for the first quarter ended March 31, 2007.
"The achievements of the past few months have clearly begun to demonstrate our unique and broadly applicable discovery capabilities and the value now existing from our long-term science-based and infrastructure-building efforts," said Alex Kotzer, President and Chief Executive Officer of Compugen. "Since the beginning of the year, we have announced a co-development agreement with Medarex for antibody therapeutics, collaborations with Teva covering toxicity biomarkers and with Mayo Clinic covering biomarkers for high risk cardiovascular disease, the discovery of approximately 200,000 medium- and large-scale genetic variations and eight novel ligands for GPCRs, and the expansion of our immunoassay diagnostic agreement with Biosite," Mr. Kotzer continued. "This unparalleled level of productivity and diversity in drug and diagnostic discovery is possible only because of our discovery engine approach based on the capabilities and understandings that have been developed over the past decade at Compugen," Mr. Kotzer concluded.
As previously projected, there were no revenues for the first quarter of 2007 (compared to $200,000 for the first quarter of 2006). The net loss for the quarter was $3.1 million (including a non-cash expense of $821,000 related to stock based compensation), or $0.11 per share, compared with a net loss of $3.1 million (including a non-cash expenses of $547,000 related to stock based compensation), or $0.11 per share, for the corresponding quarter of 2006.
Research and development expenses of $2.5 million for the first quarter of 2007, compared to $2.7 million for the first quarter of 2006, remain the Company's largest expense. These amounts are before the deduction of governmental and other grants, which totaled $297,000 for the first quarter ended March 31, 2007, compared with $417,000 for the corresponding quarter in 2006.
As of March 31, 2007, Compugen had $23.5 million in cash, cash equivalents, deposits and marketable securities, a decrease of $2.9 million from December 31, 2006.
Conference Call and Web Cast Information
Compugen will hold a conference call to discuss its first quarter results on May 1, 2007 at 10:00 a.m. EST. To access the conference call, please dial 1-888-281-1167 from the US or +972-3-918-0610 internationally. The call will also be available via live webcast through Compugen's website, located at www.cgen.com.
A replay of the conference call will be available approximately two hours after the completion of the live conference call. To access the replay, please dial 1-888-782-4291 from the US or +972-3-925-5901. The replay will be available until 12 noon EST on May 3, 2007.
Compugen Announces Collaboration for the Discovery of Novel Biomarkers for Unstable Atherosclerotic Plaques
Monday April 30, 7:00 am ET
No Reliable Markers Currently Available for Leading Cause of Death in CAD and Stroke
TEL AVIV, Israel--(BUSINESS WIRE)--Compugen Ltd. (NASDAQ:CGEN - News) announced today a collaboration with Mayo Clinic targeted at discovering and validating novel biomarkers for diagnosing the presence of unstable atherosclerotic plaques in coronary artery disease and cerebrovascular disease.
Coronary artery disease (CAD) is the leading cause of death in the developed world and resulted in estimated direct and indirect costs of over $430 billion in the United States in 2007. Vulnerable plaque is regarded as the most common cause of complications from CAD and can lead to increased incidence of heart attack and stroke. Currently, there are no diagnostic tests to identify patients with unstable atherosclerotic plaques, and therefore, the availability of biomarkers for this purpose would represent a significant medical breakthrough.
Compugen expects to utilize its unique discovery engine approach to predict and validate biomarkers related to active atherosclerotic disease. Compugen's integrated analysis will incorporate data derived from biological materials provided by Mayo Clinic, as well as Compugen's proprietary expression and clinical data. Compugen will have exclusive commercialization rights for products resulting from this collaboration. Mayo Clinic is entitled to compensation under the agreement.
"Reliably identifying the presence of vulnerable plaques is well recognized as a key unmet diagnostic need. Therefore, utilizing the unique predictive biology capabilities that have been developed over the past decade at Compugen with relevant data from a world renowned medical center is an extremely exciting opportunity," said Anat Cohen-Dayag, Ph.D., Vice President, Diagnostic Biomarkers and Drug Targets. "Furthermore, this is another example of how Compugen's broadly applicable discovery engine approach is now being focused 'field by field' for rapid breakthroughs in diverse therapeutic and diagnostic areas, such as our recently announced programs and discoveries with respect to ligands for GPCRs, therapeutic protein candidates, large scale genetic variations, drug toxicity markers and antibody therapeutics," Dr. Cohen-Dayag concluded.
http://biz.yahoo.com/bw/070430/20070430005569.html?.v=1
Thanks, Idit, for the update. CGEN is a company who seems to act as though we were still living in the 1999-2000 bubble era.
>They are burning as much as $14M per year so they will be out of cash by the end of 2008 so I don't think that there is any point in buying the stock before that.<
A cash ball from outer space could land in their parking lot but, barring that, your advice is eminently reasonable, IMO. Regards, Dew
Notes from Compugene's presentation:
What can I say? so much promise, so little outcome...
Alex Kotzer (CEO for nearly 2 years) and Nurit benjamini (CFO) both sounded intelligent and reliable. I think they understood that selling their software or doing screening jobs for others are not enough. When I asked if they can show a prove to their long term efforts, Dr. Kotzer said that he can not but that there is a possibility that some of their customers used their software and data base and actually developed a drug but they will never know. The current business model is to try to move to clinical trials as soon as possible either with one of their own molecules or with a partnered one. The partner will define the target and will pay for milestones and royalties in case of a drug.
The company has laboratories with some 10-15 people doing in vitro and in vivo studies of proteins discovered by their computerized models. They also do some projects of discovering molecules for partners (Biosite, TEVA and MEDX). These are the kind of deals they are seeking in the future and I say, the more the merrier.
They are burning as much as $14M per year so they will be out of cash by the end of 2008 so I don't think that there is any point in buying the stock before that.
>I will be attending their presentation on Sunday, April 22nd. Any questions to be asked there anybody?<
Thanks, Idit, for your offer. I haven’t followed CGEN closely enough to have any specific questions for you. However, I look forward to your report on the meeting should you wish to share it. Regards, Dew
CGEN's board is not very much alive and Until recently i wasn't sure about the company either.
I will be attending their presentation on Sunday, April 22nd.
Any questions to be asked there anybody?
genisi
Biotech News: Investor Alert for Compugen Ltd.
via COMTEX
April 5, 2007
Apr 05, 2007 (M2 PRESSWIRE via COMTEX News Network) --
Proteins and genes are Compugen's favorite things. The company has been developing technologies to improve the discovery processes of genomics and proteomics. LEADS, its bioinformatics platform, helps accelerate the analysis of genomic and protein data. Now Compugen is incorporating its technology and various research methods to expedite its own drug discovery efforts. The company has a pipeline of early-stage therapeutic protein candidates discovered by the company. It also has licensed several others to customers and collaborators such as Abbott Labs, Pfizer, and Novartis.
Shares were down 6% expanding test pact with Biosite.
BellwetherReport.com is a leading online research firm for international investors looking to get an edge over their portfolio. Investors seeking the most up to date information on Compugen Ltd. are invited to sign up for a free complimentary subscription to www.bellwetherreport.com. No credit card needed!
Israeli drug developer Compugen Ltd. said Wednesday it signed a second agreement with medical test maker Biosite Inc. to develop and market products that help test for and diagnose diseases.
Financial terms were not disclosed.
San Diego-based Biosite will now have access to a greater number of potential diagnostic biomarkers as well as Compugen's inventory of immunoassay biomarkers. An immunoassay is a biochemical test that measures the level of a substance in blood or urine by looking at how an antibody reacts to a certain molecule.
Detecting biomarkers specific to a disease -- such as breast cancer -- can help doctors identify, diagnose and treat individuals suffering from illness as well as people who may be at risk but do not yet show symptoms.
The deal also covers new diagnostic areas, including cardiovascular and oncology.
As in the previous agreement, Compugen will receive milestone payments and royalties from the sale of any products developed from the partnership. Compugen also retains the exclusive right to drug applications of the targets and associated antibodies.
Compugen shares rose 14 cents, or 5.4 percent, to $2.74 in afternoon trading on the Nasdaq Stock Market, while Biosite shares edged up 7 cents to $53.89.
More information on Compugen Ltd. available in the members section of www.BellwetherReport.com.
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Compugen Announces Second Diagnostic Agreement With Biosite Incorporated
Wednesday March 7, 7:00 am ET
New Agreement Increases Number of Potential Products and Adds Additional Diagnostic Areas
TEL AVIV, Israel--(BUSINESS WIRE)--Compugen Ltd. (NASDAQ:CGEN - News) announced today a second agreement with Biosite Incorporated for the development and commercialization of immunoassay diagnostic products.
Under the new agreement, in addition to expanding the number of potential diagnostic biomarkers available for selection by Biosite, Biosite obtains access to Compugen's increasing inventory of immunoassay biomarkers. Furthermore, the collaboration is expanded to cover cardiovascular, oncology and additional diagnostic areas.
As with the initial agreement, Compugen will receive milestone payments and royalties from the sale of any products emerging from the collaboration. Compugen retains the exclusive right to therapeutic applications of both the targets and associated antibodies.
The collaboration combines Biosite's expertise in both rapid, high-affinity antibody development and successful commercialization of proprietary testing platforms for single and multiple biomarker assays with Compugen's unique discovery capabilities based on its comprehensive predictive analysis of the human proteome and related discovery engines.
"Targeting our goal of becoming the world leader in the discovery and licensing of product candidates to the drug and diagnostic industry, we must not only enter into new collaborations, but also build on and strengthen our existing ones," said Alex Kotzer, President and Chief Executive Officer of Compugen. "Therefore, we are very pleased with this significant expansion of our immunoassay diagnostic collaboration with Biosite, a leading provider of rapid diagnostic products and antibody development technologies."
http://biz.yahoo.com/bw/070307/20070307005508.html?.v=1
Compugen Announces Discovery of Eight Novel G-Protein Coupled Receptor (GPCR) Peptide Ligands
Tuesday February 20, 7:00 am ET
Results From Initial Use of New Discovery Engine to Be Presented at Two Leading International Conferences
TEL AVIV, Israel--(BUSINESS WIRE)--Compugen Ltd. (NASDAQ:CGEN - News) announced today that it has developed a GPCR ligand discovery engine and that use of the engine to date has resulted in Compugen's discovery of eight novel peptides that activate GPCRs. The new peptide ligands will be presented at Screening Europe (February 20-21, 2007, Barcelona, Spain) and at CHI's Molecular Medicine Tri-Conference (February 27-March 2, San Francisco, CA).
GPCRs are membrane protein receptors that are involved in signal transduction of numerous physiological processes. GPCRs are by far the largest family of known drug targets, and at least 40% of drugs currently available are thought to act on GPCRs. Furthermore, newly discovered GPCR peptide ligands have in the past shown a high probability of being successfully developed into new drugs.
The new discovery engine utilized by Compugen in making these discoveries incorporates a proprietary model of the "peptidome", an in silico prediction of probable human peptides. Peptides are formed through the cleavage of precursor proteins, and Compugen's proprietary peptidome -- already consisting of thousands of novel human peptide sequences -- is based on predicting cleavage sites in precursor proteins.
The discovery engine uses proprietary machine-learning algorithms to analyze the predictive peptidome and to date has identified hundreds of peptides likely to activate GPCRs. Thirty three of these peptides, all novel, have been synthesized and screened in a functional assay against a panel of 152 GPCRs. Eight peptides were shown to activate six different GPCRs in a concentration-dependent manner, including some for which there are no known endogenous ligands. The receptors for which novel ligands have been discovered include the MAS1 and MAS-related GPCRs, MRGX1 and MRGX2, as well as FPRL1 and two of the Relaxin family receptors, RXFP1 and RXFP2.
"This is another example of how the capabilities that have been developed over the past decade at Compugen now allow us to address important unmet needs in drug discovery with unique predictive platforms. In this case, our initial use of a newly developed engine incorporating our predicted peptidome has resulted in the identification of eight novel GPCR peptide ligands. In addition, we believe that the hundreds of candidates that we haven't yet tested hold potential for many similar discoveries," said Yossi Cohen, M.D., Vice President of Research and Development, Compugen Ltd. "Out of the eight ligands already discovered, we have selected two for further development at Compugen. Others are undergoing an evaluation process both for in-house development and for out-licensing opportunities."
http://biz.yahoo.com/bw/070220/20070220005660.html?.v=1
Compugen to Present Experimental Data for its Novel Splice Variant of c-Met Receptor
Thursday February 8, 7:00 am ET
Data to be presented at GTCBio's Cancer Drugs Research & Development Conference
TEL AVIV, Israel--(BUSINESS WIRE)--Compugen Ltd. (Nasdaq:CGEN - News) announced today that it will present experimental results for its previously disclosed CGEN-241 therapeutic candidate, a splice variant of c-Met receptor, at GTCBio's Cancer Drugs Research & Development Conference (February 8-9, 2007, Philadelphia, PA).
CGEN-241 is a truncated form of the c-Met receptor predicted by Compugen's discovery engine to be encoded by a splice variant and to be secreted from the cell. It comprises part of the extracellular domain and ends in a stretch of unique amino acids. In the assessment of the biological activity of CGEN-241 as an antagonist of the HGF-Met pathway in various assays and model systems, the molecule demonstrated strong inhibition of multiple cellular functions related to this pathway, including cell proliferation, motility and invasion. These findings indicate that CGEN-241 is a potent antagonist of the HGF/Met pathway, with anti-tumorigenic and anti-metastatic activities, suggesting a therapeutic potential.
The protein product of the c-Met oncogene is the tyrosine kinase receptor for hepatocyte growth factor (HGF), and Compugen has discovered soluble variants of this receptor. The HGF-Met pathway is involved in a wide range of biological functions, including cell proliferation and survival, cell migration and invasion, as well as angiogenesis. Inappropriate activation of this signaling pathway has been implicated in tumor development and progression of solid tumors and hematologic malignancies. In view of the critical role that this pathway plays in cancer, various inhibitory strategies have been employed by companies to therapeutically target the pathway and several candidates are currently in development.
http://biz.yahoo.com/bw/070208/20070208005380.html?.v=1
Compugen will need more cash by mid-2009
06.2.07 | 15:07 By Omri Cohen
Biotechnology company Compugen (Nasdaq: CGEN) racked up more losses in the last quarter of 2006.
In fact, its loss widened by 15% to $3.8 million in the last quarter, compared with $3.4 million in the same period of 2005.
However, it managed to make $10,000 in sales, compared with zero in the parallel quarter.
Compugen ended 2006 with $26.4 million cash.
The company said it expects to post expenditure of $12-14 million in 2007, and net cash burn of $9-11 million. By the end of the year it should have $16 million left.
Assuming that Compugen doesn't find a new source of income this year or in 2008, the company will have to raise more money by mid-2009.
http://www.haaretz.com/hasen/spages/822613.html
Dubi
Compugen Ltd. Reports Fourth Quarter and Year-End 2006 Financial Results
Tuesday February 6, 7:00 am ET
TEL AVIV, Israel--(BUSINESS WIRE)--Compugen Ltd. (NASDAQ: CGEN - News) today reported financial results for the fourth quarter and year-end December 31, 2006.
"Compugen has now clearly begun to demonstrate the wide scope of commercial opportunities resulting from our very successful decade-long focus on creating a unique life science research capability," stated Alex Kotzer, Compugen's President and CEO. "As we begin 2007, we have already utilized this capability to develop platforms for systematic and predictable discovery in a number of very different areas. These include immunoassay and nucleic acid based biomarkers for diagnostic products, therapeutic candidates, large-scale genetic differences for disease predisposition and drug response, biomarkers for the early identification of drug toxicity, and targets for the joint development of antibody therapeutics," Mr. Kotzer added. "We enthusiastically look forward to 2007 with the expectation of broadening and deepening this unparalleled capability with the availability of new discovery engines addressing additional important unmet needs, new and expanded collaborations, and a substantial increase in the number of therapeutic and diagnostic product candidates moving forward under revenue sharing arrangements," Mr. Kotzer concluded.
As previously projected, revenues for the fourth quarter and for the year 2006 were not significant ($10,000 for the fourth quarter of 2006, compared to no revenues for the fourth quarter of 2005, and revenues of $215,000 for the year 2006, compared to $646,000 for 2005).
The net loss for the quarter was $3.8 million (including non-cash expense of $523,000 related to stock based compensation), or $0.14 per share, compared with a net loss of $3.4 million (including a non-cash expense of $78,000 related to stock based compensation), or $0.12 per share, for the corresponding quarter of 2005. The net loss for the year 2006 was $13.0 million (including non-cash expense of $2.1 million related to stock based compensation), or $0.47 per share, compared with a net loss of $14.0 million (including non-cash expense of $391,000 related to stock based compensation), or $0.50 per share, for 2005.
Research and development expenses of $3.3 million for the fourth quarter of 2006, compared to $3.2 million for the fourth quarter of 2005, remain the Company's largest expense. Total research and development expenses for 2006 were $11.6 million compared to $12.7 million for 2005. These amounts are before the deduction of governmental and other grants, which totaled $409,000 for the fourth quarter ended December 31, 2006, compared with $800,000 for the corresponding quarter in 2005, and $1.8 million for 2006 compared to $2.3 million for 2005. Accordingly, research and development expenses net of governmental grants were $9.8 million for 2006 as compared to $10.5 million for 2005.
The attached balance sheet ended December 31, 2006 reflects a change in the accounting treatment for investment in Evogene Ltd., an affiliate of Compugen, as compared to that used in the balance sheets reported for the first three quarters of 2006. This revised accounting treatment had no effect on the Company's reported cash flows or results of operations for any periods and resulted in a reduction in total shareholders' equity of $1,278,000.
Compugen also announced that Eli Zangvil, M.D., who joined the Company in November 2006 as Vice President of Business Development, has assumed the responsibilities previously held by Mr. Erez Chimovits as Executive Vice President of Commercial Operations. In addition, Anat Cohen-Dayag, Ph.D., Vice President of Diagnostic Markers and Therapeutic Targets, and Yossi Cohen, M.D., Vice President of Research and Development, have assumed the responsibilities previously held by Noam Shani, Ph.D., as Vice President of Therapeutics.
2007 Projected Cash Uses and Balances
As of December 31, 2006, Compugen had $26.4 million in cash, cash equivalents, deposits, and marketable securities. The Company's expectation is that its total cash expenditures during 2007 will be in the range of $12-$14 million with a net cash usage for the year of $9-$11million, and therefore, assuming no new sources of cash during 2007, the Company would end 2007 with cash and cash equivalent reserves of approximately $16 million.
Assuming no new sources of cash during either 2007 or 2008 and anticipated net cash uses, the Company anticipates that it would require additional cash resources by mid-2009, and that such additional required cash could be in the range of an estimated twenty million dollars until positive cash flow could be achieved. Market and other conditions will determine whether any necessary funds would be sought through equity-related offerings, collaborative or strategic arrangements, or some combination of these or other types of transactions.
Conference Call and Webcast Information
Compugen will hold a conference call to discuss its fourth quarter and year-end results on February 6, 2007 at 10:00 a.m. EST. To access the conference call, please dial 1-888-281-1167 from the US or +972-3-918-0610 internationally. The call will also be available via live webcast through Compugen's website, located at www.cgen.com.
http://biz.yahoo.com/bw/070206/20070206005665.html?.v=1
Another lesson in investor behavior can learned from the stock of Compugen (Nasdaq: CGEN; TASE: CGEN). It reached $3.2 in mid-November, and has since fallen 20% to $2.5. Over the last week it began a revival, which culminated in yesterday’s colossal jump after the company announced that it had signed an agreement with Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA). I will now try and explain what it’s all about.
The two companies have agreed to collaborate on a project for the discovery of biomarkers for the detection of drug toxicity in preclinical stages of the drug development process. Their research will focus initially on biomarkers for the early detection of potential nephrotoxicity (the poisonous effect of certain substances, both toxic chemicals and medications on the kidneys). “The companies may later expand the collaboration to include biomarkers for the detection of hepatotoxicity (toxic damage to the liver) and/or cardiotoxicity (damage to heart muscles caused by chemotherapy or an incorrectly administered drug),” said the announcement.
Under the agreement, Compugen has granted Teva a license to use the discovered markers for research and development activities while retaining commercialization rights for licensing to other companies. Essentially, Teva will use Compugen’s platforms to test toxicity levels in biological materials that it uses. Looking at it from the perspective of Main Street, this is without doubt, a great achievement for Compugen and all that remains to be seen now is how much revenue will this agreement will entail, and when the collaboration will begin to deliver results. That’s how things looks on Main Street.
Over on Wall Street, the announcement sent Compugen up more than 20% before the start of the session. I imagine that most of the buyers purchased the stock not because they were enthralled by the platforms that the company has developed but rather, because Teva was involved and moreover it looks to me like most of the buyers were Israelis, or connected to Israel.
How do I know Teva is to blame? It’s quite simple. Two weeks earlier, Compugen announced that it had signed a collaboration agreement with Medarex Inc. (Nasdaq: MEDX). Under the agreement, the two companies will jointly develop monoclonal antibody-based therapeutics for oncology and autoimmune diseases. Medarex is an extremely large company and a leader in the development of therapeutics for the treatment of cancer, and autoimmune diseases.
That announcement was no less significant than the announcement of the agreement with Teva, yet what happened to the stock two weeks ago? Nothing. Those who bought Compugen stock yesterday did not consider the Medarex deal important enough to make a rush for the stock two weeks back. This would imply that nearly all of yesterday’s buyers follow Teva and they were probably Israelis too. This can only lead to one conclusion, and that is that Teva is a name that still commands a lot of respect on the market, and that in itself is a good thing, and a response to all those who, for some reason, decided that Teva was on a downward spiral.
As for Compugen and the attitude of Wall Street to the company and its stock, like Alvarion, it too was once a hit, touching the $20 mark at the beginning. It was floated in August 2000, just as the market was beginning to collapse and the bubble was bursting. It became a hit, as part of the state of mind that set off the big genome dream on Wall Street. Over time it became apparent that the dream is just as it was, but that its realization on Main Street would take a lot longer than Wall Street promised.
Investors subsequently realized that anyone who wanted to make a profit in this sector had two options open to them. They could either sit in the genomic stocks and wait a long time, or pull out and return once Main Street signaled that there was also a solid business foundation for companies like these. Most investors did indeed pull out and so the prices of genomics stocks nosedived to a level that was more appropriate from the business aspect.
Yet Compugen still represents a fantastic dream that will probably become a success business wise sooner than was thought back in 2000. Wall Street’s attitude towards this company is clearly borne out by the fact that it has no analyst coverage. In 2000 it was covered by the top three investment houses at the time, Lehman Brothers, Piper Jaffray and Robertson Stevens. Seven years on, Robertson Stevens no longer exists, and the analysts who covered Compugen back then probably don’t even remember who it is. That’s how it is on Wall Street.
I have no doubt that Compugen has great potential but the trouble is that it still hasn’t sold anything, it is running low on cash, and shrewd investors will continue to keep well away as long this remains the case. This is a fact of life and nothing can be done about it. So I therefore hope that Medarex and Teva will start to forward payments to Compugen, otherwise we’ll soon see a serious dilution of its stock, after it finds itself having to make a further offering. In the meantime, judging by the stock’s behavior yesterday, I find it hard to believe that these gains will last for long.
Published by Globes [online], Israel business news - www.globes.co.il - on January 31, 2007
http://www.globes.co.il/serveen/globes/docview.asp?did=1000178506&fid=1052
Bullishalerts.com: Daily Watch List
via COMTEX
January 30, 2007
Philadelphia, PA, Jan 30, 2007 (M2 PRESSWIRE via COMTEX News Network) --
Bullish Alerts is currently monitoring the following Stocks: Compugen Ltd. (NASDAQ: CGENFor a comprehensive report please visit www.bullishalerts.com/APIO011.htm
Compugen Ltd. (NASDAQ: CGEN) Closed Mondays trading session at (2.85) per share down 0.6% on 212,962 volume while 331 trades were placed. On Jan. 30th Compugen Ltd. announced that it has signed an agreement with Teva Pharmaceutical Industries (NASDAQ: TEVA) to collaborate on a project for the discovery of biomarkers for the detection of drug toxicity in preclinical stages of the drug development process. According to the agreement, the initial focus of the collaboration will be on biomarkers for the early detection of potential nephrotoxicity. The parties may jointly choose to expand the scope of the collaboration to include biomarkers for the detection of hepatotoxicity and/or cardiotoxicity in response to drug treatment. Under the terms of the agreement, Compugen has granted Teva a license to use the discovered markers for research and development activities while retaining commercialization rights for licensing to other companies, as well as rights for internal use.
Compugen's mission is to be the world leader in the discovery and licensing of product candidates to the drug and diagnostic industry. The Company's powerful discovery engines enable the predictive discovery of numerous potential therapeutics and diagnostic biomarkers. This capability results from the Company's decade-long pioneering efforts in the deeper understanding of important biological phenomena at the molecular level through the incorporation of ideas and methods from mathematics, computer science and physics into biology, chemistry and medicine. To date, Compugen's product discovery efforts and its initial discovery engines have focused mainly within the areas of cancer, immune-related and cardiovascular diseases. The Company's primary commercialization pathway for its therapeutic and diagnostic product candidates is to enter into milestone and revenue sharing out-licensing and joint development agreements with leading companies.
Compugen to Collaborate with Teva for Discovery of Novel Biomarkers for Drug Toxicity
Tuesday January 30, 7:00 am ET
Initial efforts targeted at predicting and validating biomarkers for early detection of drug-induced nephrotoxicity
TEL AVIV, Israel--(BUSINESS WIRE)--Compugen Ltd. (NASDAQ: CGEN - News) announced today it has signed an agreement with Teva Pharmaceutical Industries (NASDAQ: TEVA - News) to collaborate on a project for the discovery of biomarkers for the detection of drug toxicity in preclinical stages of the drug development process. According to the agreement, the initial focus of the collaboration will be on biomarkers for the early detection of potential nephrotoxicity. The parties may jointly choose to expand the scope of the collaboration to include biomarkers for the detection of hepatotoxicity and/or cardiotoxicity in response to drug treatment. Under the terms of the agreement, Compugen has granted Teva a license to use the discovered markers for research and development activities while retaining commercialization rights for licensing to other companies, as well as rights for internal use.
Under the collaboration, Compugen expects to utilize its proprietary computational tools, discovery engines and nucleic acid testing technologies for the purpose of predicting and validating toxicity biomarkers. Compugen's integrated analysis will incorporate data derived from biological samples collected by Teva in a preclinical study designed specifically for this project, as well as Compugen's proprietary expression and clinical data.
Nucleic acid technologies detect RNA molecules that are expressed under various pathological conditions, and Compugen's computational discovery platforms are designed to directly identify such RNA molecules. Nucleic acid based toxicity biomarkers discovered through this process may assist in the early detection of toxic drug effects and may therefore enable such drug candidates not to progress into more expensive drug development stages.
Anat Cohen-Dayag, Ph.D., Vice President of Diagnostic Biomarkers, Compugen Ltd., said, "This is another example of how the capabilities that have been developed over the past decade at Compugen now allow us to address important unmet needs in drug discovery and clinical use with unique predictive platforms. In this case, we intend to utilize our discovery engines, originally developed for immunoassay diagnostic collaborations, to predict toxicity biomarkers that could be useful during preclinical evaluation, thus enabling the identification of toxicity at an early stage, before substantial investments in drug development have been made. We are very pleased to be collaborating with Teva on this very important - and largely unmet - need in drug discovery and development."
http://biz.yahoo.com/bw/070130/20070130005602.html?.v=1
Compugen to Present Experimental Data of its MCP-1 Antagonist Candidate at GTCBio's Cytokines and Inflammation Conference
Monday January 29, 7:00 am ET
TEL AVIV, Israel--(BUSINESS WIRE)--Compugen Ltd. (NASDAQ: CGEN - News) announced today that it will present experimental results for its previously disclosed CGEN-54, an MCP-1 antagonist therapeutic candidate, at GTCBio's 5th Cytokines and Inflammation Conference (January 29-30, 2007, Breckenridge, Colorado).
Compugen's CGEN-54 is a truncated variant of MCP-1 that is encoded by a novel splice variant, and the results to be presented at the Conference demonstrate the molecule's ability to inhibit the MCP-1/CCR2 pathway both in-vitro and in-vivo. In cell culture, CGEN-54 strongly inhibited MCP-1-induced monocytes migration, whereas in-vivo, CGEN-54 was effective in reducing macrophage infiltration in a mouse model of peritoneal inflammation.
CGEN-54 was one of three therapeutic candidates for which Compugen announced in late 2006 the discovery and demonstration of functional activity. This molecule, and splice variants of c-Met receptor and ANP hormone, had initially been predicted in silico utilizing the Company's first therapeutics discovery engine, based on Compugen's long-term leadership in the field of alternative splicing.
MCP-1 (Monocyte Chemoattractant Protein 1, also named CCL2) belongs to the CC chemokines family and is induced in response to various inflammatory stimuli. Binding of MCP-1 to its cognate receptor, CCR2, leads to recruitment of specialized immune cells into the site of inflammation, resulting in tissue destruction. The inhibition of the MCP-1/CCR2 pathway represents a promising target to effectively modulate disease progression in chronic inflammatory diseases, such as multiple sclerosis.
About Compugen
Compugen's mission is to be the world leader in the discovery and licensing of product candidates to the drug and diagnostic industry. The Company's powerful discovery engines enable the predictive discovery of numerous potential therapeutics and diagnostic biomarkers. This capability results from the Company's decade-long pioneering efforts in the deeper understanding of important biological phenomena at the molecular level through the incorporation of ideas and methods from mathematics, computer science and physics into biology, chemistry and medicine. To date, Compugen's diagnostic and therapeutic product discovery efforts and its initial discovery engines have focused mainly within the areas of cancer, immune-related and cardiovascular diseases. (should anything be added due to Medarex) The Company's primary commercialization pathway for its therapeutic and diagnostic product candidates is to enter into milestone and revenue sharing out-licensing and joint development agreements with leading companies. Compugen has established an agricultural biotechnology affiliate - Evogene, and a small-molecule drug discovery affiliate - Keddem Bioscience. For additional information, please visit Compugen's corporate Website at www.cgen.com.
http://biz.yahoo.com/bw/070129/20070129005562.html?.v=1
Compugen to collaborate with US co Medarex
The companies will jointly discover and develop drugs through the use of their complementary platforms.
Gali Weinreb 23 Jan 07 18:56
Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN) has signed an agreement with Medarex Inc. (Nasdaq:MEDX) to jointly discover and develop drugs through the use of their complementary platforms. Compugen knows how to discover and model receptors on cells, while Medarex knows how to produce antibodies adapted to these receptors that will become the basis for drugs.
The companies will jointly develop novel monoclonal antibody-based therapeutics for oncology and autoimmune diseases. They plan to share discovery, development and commercialization responsibilities on antibody-based therapeutics resulting from this collaboration, and share revenues generated from the sale of such therapeutic products.
Although it is difficult at this stage to quantify the expected revenue for Compugen from the agreement, it is clear that this is a strategic agreement for the company. Medarex, which has a market cap of $1.7 billion, is the leading developer of antibody-based therapeutics in the world. The company has 36 candidate molecules for drugs at various stages of clinical trials, including six undergoing Phase III trials. Medarex is jointly developing some of these drugs with other companies, including industry leaders Amgen Inc. (Nasdaq:AMGN), Bristol-Myers-Squibb Inc. (NYSE: BMY), Eli Lilly & Co. (NYSE:LLY), and Novartis AG (NYSE: NVS; LSE: NOV; SWX: NOVZ). Other drugs under development are wholly owned by Medarex. The company posted $56 million revenue in 2005 from these activities, and its revenue is expected to rise sharply if and when one of its drugs is approved for marketing.
Compugen president CEO Alex Kotzer said, “Under the agreement, Medarex will bring us ideas for targets that it wants to develop for drugs. We will find the target receptors and model them so that Medarex can develop molecules for therapeutics. Our development teams will soon hold their first joint meeting to decide where to begin.”
Medarex chairman and interim president and CEO Irwin Lerner said, “We are pleased with this opportunity to pair our UltiMAb Human Antibody Development System technology with new disease targets that may be generated by Compugen's target discovery capabilities and to potentially develop novel therapeutics to fight serious and life-threatening conditions."
This is Compugen’s first agreement for drug development. The company has three strategic agreements for diagnostic products development with Johnson & Johnson (NYSE:JNJ) subsidiary Ortho-Clinical Diagnostics, Inc. (OCD), Diagnostic Products Corporation (recently acquired by Siemens AG (NYSE: SI; XETRA: SIE)), and Biosite Inc. (Nasdaq:BSTE). Compugen is also developing by itself a number of molecules that it discovered with its platform. The most advanced molecules include treatments for metastasized cancer, anti-immune diseases, and cardiovascular diseases.
Published by Globes [online], Israel business news - www.globes.co.il - on January 23, 2007
Medarex and Compugen Announce Therapeutic Antibody Co-Development Agreement
Tuesday January 23, 6:00 am ET
PRINCETON, N.J. and TEL AVIV, Israel, Jan. 23 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX - News) and Compugen Ltd. (Nasdaq: CGEN - News) have entered into a collaborative agreement to develop novel monoclonal antibody-based therapeutics for oncology and autoimmune diseases. Under the terms of the agreement, Medarex and Compugen plan to share discovery, development and commercialization responsibilities on antibody-based therapeutics resulting from this collaboration, and share revenues generated from the sale of such therapeutic products.
Under the collaboration, Compugen expects to utilize its proprietary antibody-target discovery engine to identify novel drug targets. Medarex plans to develop fully human antibodies against these targets using its UltiMAb Human Antibody Development System®. The collaboration also provides that Compugen may independently pursue diagnostic applications involving certain antibodies and targets.
"We are pleased with this opportunity to pair our UltiMAb technology with new disease targets that may be generated by Compugen's target discovery capabilities and to potentially develop novel therapeutics to fight serious and life-threatening conditions," said Irwin Lerner, Chairman of the Board of Directors and Interim President and CEO of Medarex. "This new partnership also provides us with the potential opportunity to broaden the number of product candidates to treat cancer and autoimmune diseases currently in our pipeline."
"We are very excited about this broad collaboration with Medarex, a recognized world leader in developing antibody based therapies," said Alex Kotzer, CEO and President of Compugen. "This is a strategic move forward for Compugen with respect to collaborating in development and commercialization, as well as research and discovery. In addition, this is our first collaborative agreement in the field of therapeutics, following a number of recent agreements in various areas of diagnostics. We believe Medarex is the ideal partner to work with on our discoveries in the field of antibody targets as we continue to focus our discovery engine approach to new and exciting diagnostic and therapeutic areas."
About Medarex
Medarex is a biopharmaceutical company focused on the discovery, development, and potential commercialization of fully human antibody-based therapeutics to treat life-threatening and debilitating diseases, including cancer, inflammation, autoimmune disorders and infectious diseases. Medarex applies its UltiMAb® technology and product development and clinical manufacturing experience to generate, support and potentially commercialize a broad range of fully human antibody product candidates for itself and its partners. Thirty-six of these therapeutic product candidates derived from Medarex technology are in human clinical testing or have had INDs submitted for such trials, with six of the most advanced product candidates currently in Phase III clinical trials. Medarex is committed to building value by developing a diverse pipeline of antibody products to address the world's unmet healthcare needs. For more information about Medarex, visit its website at www.medarex.com.
http://biz.yahoo.com/prnews/070123/aqtu014.html?.v=2
OT: In a general way CTT ( which does other sectors as well as biotech, but seems somewhat in same patent rollup stance) seems to offer better value unless you can quantify value of all proprietary models they(CGEN) anticipates collecting with acurracy.
Compugen Reports First Quarter 2006 Financial Results
Thursday April 27, 8:33 am ET
TEL AVIV, Israel--(BUSINESS WIRE)--April 27, 2006--Compugen Ltd. (Nasdaq:CGEN - News) today reported financial results for the first quarter ended March 31, 2006.
Alex Kotzer, President and CEO, stated, "During the past quarter we concluded our initial biological assessment for more than seventy potential therapeutic proteins and peptides. Twelve of these Compugen discovered candidates with demonstrated functional biological activities have now been selected and prioritized for further assessment. The selected candidates, all from different gene families, are mainly related to the oncology and immunology therapeutic areas. In addition, as of the end of the quarter, our partners for immunoassay diagnostics had selected as product development candidates more than ten Compugen discovered cancer and cardiovascular disease related biomarkers. These accomplishments, along with some exciting progress in our research and discovery unit, were the highlights of a very successful first quarter."
In line with Compugen's evolution to utilizing its scientific know-how and computational biology capabilities for the discovery of potential therapeutic and diagnostic products, revenues from sales of previously developed life science tools and services decreased to $200,000 for the most recent quarter, compared to $481,000 for the first quarter of 2005. The net loss for the quarter was $3.1 million (including non-cash expense of $547,000 related to stock based compensation), or $0.11 per share, compared with a net loss of $3.7 million (including non-cash income of $10,000 related to stock based compensation), or $0.13 per share, for the corresponding quarter of 2005.
Research and development expense of $2.7 million for the most recent quarter compared to $3.5 million for the first quarter of 2005, remains the Company's largest expense. These amounts are before the deduction of governmental and other grants, which totaled $417,000 for the first quarter ended March 31, 2006, compared with $384,000 for the corresponding quarter in 2005.
Update on Financial Status
As of March 31, 2006, Compugen had $33.8 million in cash, cash equivalents, and marketable securities, (including approximately $0.7 million that was received on behalf of, and will be transferred to, research consortium partners), a decrease of $3.0 million from December 31, 2005. The company has projected that net cash usage for the remainder of calendar 2006 will be approximately $9 million, which would result in an estimated $25 million in cash, cash equivalents, and marketable securities as of the beginning of 2007.
The Company has previously stated that its anticipated primary sources of future revenues are milestone and revenue sharing payments from licensing and other arrangements covering the development and marketing of diagnostic and therapeutic products based on the Company's discoveries. Compugen anticipates that it will begin to receive such payments from its existing arrangements by the end of this year or early next year, and these revenues are anticipated to increase substantially in the following years as products based on Compugen discovered molecules progress towards commercialization.
Update on Operations
Diagnostic Biomarkers - During the past quarter, Compugen continued to advance its collaborations with three leading diagnostic companies which have to date chosen more than ten biomarker candidates for development of potential immunoassay diagnostic products. These molecules had been first predicted through the use of Compugen immunoassay biomarker discovery engines. Recently the Company developed modified versions of these engines for utilization in the field of nucleic acid diagnostics and has now begun to discuss with potential licensees its initial nucleic acid biomarker discoveries. During the remainder of 2006, the Company will continue its immunoassay and nucleic acid discovery efforts for both current and new medical indications, with the expectation of additional candidates being selected by Compugen's current partners and new development and commercialization agreements being signed.
Therapeutics - During the past quarter, the Company completed initial biological studies for more than seventy novel potential therapeutic proteins and peptides. Following this assessment stage, which included the production of the molecules and studies of binding, specificity and functional biological activities, twelve potential therapeutic molecules - mainly for various forms of cancer and autoimmune diseases - have been selected and prioritized for further biological assessment. The Company expects that by year end 2006, it will have generated additional supporting data including disease-related assessments based on in-vivo animal models for a number of these molecules and will have initiated discussions with potential licensees and development partners.
Research and Discovery - Compugen's research and discovery efforts are targeted at using its unique predictive biology capabilities for the creation of diagnostic and therapeutic product discovery engines based on proprietary biological knowledge. Whereas most of the Company's current therapeutic and diagnostic candidates are being derived from Compugen's leadership in the deeper understanding of alternative splicing and related phenomena, the Company is now building on this base to develop discovery engines incorporating other powerful and broadly applicable biological phenomena. A major focus during the past quarter was the phenomena of large scale genetic variation, and these efforts are now generating novel discoveries. Other current projects involve protein intra-molecular interactions, integrated analysis of biological and medical data, and peptide functional characteristics prediction. The Company intends to continue its efforts towards the development of discovery engines and future product candidates based on these new scientific understandings both in certain areas on its own and via collaborations in other areas.
Conference Call and Web Cast Information
Compugen will hold a conference call to discuss its first quarter results on April 27, 2006 at 10:00 am EST. To access the conference call, please dial 1-866-860-9642 from the US or +972 3-918-0610 internationally. A replay of the conference call will also be available approximately two hours after the completion of the live conference call. To access the replay, please dial 1-866-276-1485 from the US or +972 3-925-5901. The replay will be available until 12 noon EST on April 29, 2006.
The call will also be available via live Web cast through Compugen's Website, located at www.cgen.com.
http://biz.yahoo.com/bw/060427/20060427005539.html?.v=1
Dubi
Compugen-led consortium receives €3.1m grant from EU
The consortium will build a computerized model of the MAP-kinase pathway, a signaling pathway related to cancer.
Gali Weinreb 7 Mar 06 18:50
Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN) today announced that it will lead a consortium of companies and research institutes to develop a platform to simulate the MAP-kinase pathway, a signaling pathway related to cancer. The consortium has obtained a €3.1 million grant from the European Commission, including €770,000 ($930,000) for Compugen.
Other members of the consortium are Aureus Pharma of France, Consejo Superior de Investigaciones Cientificas of Spain, the Institut De Recerca Hospital Universitari Vall De Hebron from Spain, Istituto Nazionale Tumori of Milan-Italy, the Max Planck Institute for Infection Biology from Germany, the University of Glasgow, the Weizmann Institute of Science, and Arttic Israel, a consultancy and management company.
The Simulation Modeling of the MAP-kinase Pathway (SIMAP) consortium will develop a computerized model for the biochemical pathways of the MAP-kinase pathway. A number of treatments and diagnostic methods using the MAP-kinase pathway are already on the market, but it is assumed that building a computerized model of the pathway will improve understanding of it. The model is expected to help develop new drugs, improve pre-clinical and clinical trials by adapting treatments to patients’ parameters, and reduce side-effects of existing drugs.
Published by Globes [online], Israel business news - www.globes.co.il - on March 7, 2006
Dubi
Compugen Leads Consortium to Model Cancer Related Kinase Pathway
Tuesday March 7, 7:13 am ET
European Commission to Fund SIMAP Consortium
TEL AVIV, Israel--(BUSINESS WIRE)--March 7, 2006--Compugen Ltd. (Nasdaq:CGEN - News) announced today that it is leading a consortium for the development of a platform to simulate the MAP-kinase pathway, a signaling pathway related to cancer which is already targeted by a number of cancer therapies and diagnostic tests.
The Simulation Modeling of the MAP-kinase Pathway (SIMAP) consortium is funded by the European Commission which has allocated 3.1 million Euro for the project over a three year period. In addition to Compugen, the consortium includes Aureus Pharma of France, Consejo Superior de Investigaciones Cientificas of Spain, the Institut De Recerca Hospital Universitari Vall De Hebron from Spain, Istituto Nazionale Tumori of Milan-Italy, the Max Planck Institute for Infection Biology from Germany, the University of Glasgow from the UK, the Weizmann Institute of Science from Israel, and Arttic Israel, a consultancy and management company.
The MAP-kinase pathway is a major pathway that relays signals from the plasma membrane into the nucleus. A deep understanding of this pathway is important for the development of rational anti-cancer therapies. The SIMAP consortium intends to develop a comprehensive and robust simulation model of the pathway, which will incorporate data from the literature, as well as experimental and clinical work. The model is expected to create qualitative predictions, followed by experimental verification. It is expected to integrate and analyze data from various types of resources ranging from single molecule information, to pathway modeling, to clinical data and patients' response.
This approach is expected to enable hypothesis-driven research aimed at the establishment of systems level computational platforms available for various pharmaceutical applications. The concepts and methods intended to be developed could help in the design of new therapeutic drugs, decrease the attrition rate of new drugs and make it possible to select patients for treatment on the basis of individual parameters. Model-driven predictions regarding the impact of drug combinations could allow dramatic improvement in the design of pre-clinical and clinical trials, enhance patient response and limit adverse effects of drugs.
"We are proud to advance our research in the field of systems biology with such distinguished partners," said Zipi Fligelman Shaqed, Team Leader, Numerical Modeling of Biosystems at Compugen. "We believe that such multi-scale modeling has never been done before and is a significant step forward," added Yossi Cohen, M.D., Compugen's Vice President Research and Discovery. "Combining mathematical modeling of biochemical behavior with new data mining techniques and clinical data could create a multidisciplinary platform prototype. This platform can be suitable for modeling of other disease related pathways leading to the rational development of drugs for many conditions," concluded Dr. Cohen.
About Compugen
Compugen is a biotechnology discovery company focused on therapeutic and diagnostic products. The Company's powerful predictive models and discovery engines enable the discovery of numerous potential therapeutics and diagnostic biomarkers. This capability results from the Company's pioneering and on-going incorporation of ideas and methods from mathematics, computer science and physics into biology, chemistry and medicine. To date, Compugen's discovery efforts have focused mainly on cancer, cardiovascular and immune-related diseases. Product development is pursued both in-house and through collaborative arrangements. The Company's primary business goal is to out-license therapeutic and diagnostic product candidates for commercialization by leading companies under milestone and revenue sharing agreements. Compugen has established an agricultural biotechnology affiliate - Evogene, and a small-molecule drug discovery affiliate - Keddem Bioscience. For additional information, please visit Compugen's corporate Website at www.cgen.com.
http://biz.yahoo.com/bw/060307/20060307005550.html?.v=1
Dubi
Compugen Announces In-Silico Protein Discovery from 'Junk DNA'
Tuesday February 14, 8:01 am ET
Findings Published in Proceedings of the National Academy of Sciences
Methodology has Enabled Discovery of Novel Therapeutic Protein Candidates
TEL AVIV, Israel--(BUSINESS WIRE)--Feb. 14, 2006--Compugen Ltd. (Nasdaq:CGEN - News) announced today the development of an innovative in-silico predictive approach allowing the discovery of novel human transcripts and proteins from portions of so-called "junk DNA". This methodology has already enabled the discovery by Compugen of several previously unknown therapeutic protein candidates and has been published in Proceedings of the National Academy of Sciences (USA) (Shemesh et al. PNAS, January 31 2006).
The DNA sequences utilized by the new methodology are essentially ancient, mutated copies of current genes, termed processed pseudogenes. Utilizing public pseudogene databases, Compugen's predictive methodology has been shown to both verify the sequences' annotation on the genome and then use the pseudogene sequences as "blue prints" for new gene variants and, therefore, novel transcripts and proteins. The methodology has clearly demonstrated the ability to predict new variants for genes for which little or no evidence is available, as well as detect rare forms of gene products that might not have been otherwise detected.
Processed pseudogenes are naturally occurring genomic sequences that from an evolutionary standpoint were created through reverse transcription of mRNAs and then reinserted at a new genomic location. These new genomic sequences are generally considered "junk DNA". However, through analysis of thousands of such human pseudogenes with its in-silico predictive methodology, Compugen's scientists were able to predict the existence of hundreds of novel transcript variants, a selected subset of which were then experimentally validated in the Company's laboratories. Several of these novel transcripts and resulting predicted proteins have been selected by Compugen as therapeutic candidates and are now undergoing further evaluation.
"The breakthrough nature of this discovery is that we can actually use these 'dead copies of genes' as a genomic embedded cDNA library," stated Ronen Shemesh, Ph. D., Manager, Experimental Research at Compugen and the lead author of the paper. "This new knowledge builds upon previous breakthroughs by Compugen in the understanding of significant biological phenomena such as alternative splicing, naturally occurring antisense and RNA editing, and provides further evidence of the power and potential of Compugen's predictive research approach," added Yossi Cohen, M.D., Compugen's Vice President Research and Discovery. "In addition to the scientific importance of these findings, from a practical standpoint, they are providing Compugen with novel putative therapeutic and diagnostic transcripts and proteins that otherwise would be difficult, if not impossible to discover," Dr. Cohen concluded.
About Compugen
Compugen is a biotechnology discovery company focused on therapeutic and diagnostic products. The Company's powerful predictive models and discovery engines enable the discovery of numerous potential therapeutics and diagnostic biomarkers. This capability results from the Company's pioneering and on-going incorporation of ideas and methods from mathematics, computer science and physics into biology, chemistry and medicine. To date, Compugen's discovery efforts have focused mainly on cancer, cardiovascular and immune-related diseases. Product development is pursued both in-house and through collaborative arrangements. The Company's primary business goal is to out-license therapeutic and diagnostic product candidates for commercialization by leading companies under milestone and revenue sharing agreements. Compugen has established an agricultural biotechnology affiliate - Evogene, and a small-molecule drug discovery affiliate - Keddem Bioscience. For additional information, please visit Compugen's corporate Website at www.cgen.com.
http://biz.yahoo.com/bw/060214/20060214005707.html?.v=1
Dubi
Compugen Ltd. Reports Fourth Quarter and Year-End 2005 Financial Results
Thursday February 9, 7:00 am ET
TEL AVIV, Israel--(BUSINESS WIRE)--Feb. 9, 2006--Compugen Ltd. (Nasdaq:CGEN - News) today reported financial results for the fourth quarter and year-end December 31, 2005.
"During 2005 we completed our evolution from a company providing life science software products and services on a fee basis, to a company that discovers and licenses potential therapeutic and diagnostic products to leading partners under milestone and revenue sharing agreements," stated Alex Kotzer, Compugen's President and CEO. "A primary objective for 2006 will be to substantially increase the number of product candidates moving forward under such agreements in both current and additional areas of focus. In view of our unique multidisciplinary research team, our deeper understandings of important biological phenomena at the molecular level, and our powerful discovery engines, we are confident of our ability to achieve our goals," Mr. Kotzer concluded.
Revenues for the year 2005 were $646,000, compared to $2.6 million for 2004. The net loss for 2005 was $14.0 million (including a non-cash charge of $391,000 for amortization of deferred compensation), or $0.50 per share, compared with a net loss of $13.7 million (including a non-cash charge of $755,000 for amortization of deferred compensation), or $0.50 per share, for 2004.
For the fourth quarter ended December 31, 2005, the Company had no revenues compared to $159,000 for the same quarter in 2004. The net loss for the fourth quarter of 2005 was $3.4 million (including a non-cash charge of $78,000 for amortization of deferred compensation), or $0.12 per share, compared with a net loss of $3.7 million (including a non-cash charge of $155,000 for amortization of deferred compensation), or $0.14 per share, for the corresponding quarter in 2004.
Previously, the Company presented governmental and other grants as part of Revenues and Grants, based on the single step income statement presentation approach. These amounts have been reclassified for all periods presented and are now shown as a deduction from research and development expenses. Governmental and other grants totaled $2.3 million for 2005 compared to $1.4 million for 2004. Governmental and other grants for the fourth quarter ended December 31, 2005 were $800,000, compared with $393,000 for the corresponding quarter in 2004.
2006 Key Objectives
Diagnostic Unit: To date, Compugen's diagnostic activities have focused primarily on biomarker candidates for immunoassay diagnostics of various cancers and cardiovascular diseases. The Company has entered into milestone and royalty bearing agreements with three leading diagnostic companies covering the development and commercialization of potentially more than a dozen immunoassay products in these areas, based on Compugen's discoveries. During 2006, in addition to seeking further partners in the field of immunoassay diagnostics, an important new focus for this unit will be biomarker discoveries for nucleic acid diagnostics.
Therapeutics Unit: The primary activities for this unit involve the on-going experimental validation of dozens of potential therapeutic proteins predicted by the Company's initial discovery engines and selected for further evaluation. Out of these, during the next few months, the Company intends to select for further development the therapeutic candidates that show the best results, based on their proven biological activities. This selection should also dictate the therapeutic indications that Compugen will initially focus on and for which the Company will identify additional candidates using its new discovery engines. The Company expects that during 2006 it will largely complete these validation efforts and will begin to seek partners for the further development and commercialization of successfully validated molecules.
Research and Discovery Unit: Compugen's key competitive advantages are its unique multidisciplinary research team, its deeper understandings of important biological phenomena at the molecular level, and its scientific and technological infrastructure for life science discovery. These result from the Company's pioneering and on-going incorporation of ideas and methods from mathematics, computer science and physics into biology, chemistry and medicine. During 2006, the Company intends to continue to invest substantial resources in further developing this world-class capability, including the development of new discovery engines and technologies for the discovery of novel therapeutic and diagnostic candidates.
2006 Projected Cash Uses and Balances
Compugen's most important financial consideration is to ensure the availability of the financial resources necessary for the Company to continue to develop until it attains positive cash flow from operations. Therefore, the key short-term financial measurements for Compugen relate to cash balances.
As of December 31, 2005, Compugen had $36.8 million in cash, cash equivalents, and marketable securities, including approximately $834,000 that was received on behalf of, and will be transferred to, research consortium partners. The Company's expectation is that its net cash usage for 2006 will be in the range of $11-13 million, and therefore expects to end 2006 with approximately $24 million.
Conference Call and Web Cast Information
Compugen will hold a conference call to discuss its fourth quarter and year-end results on February 9, 2006 at 10:00 a.m. EST. To access the conference call, please dial 1-866-860-9642 from the US or +972-3-918-0610 internationally. The call will also be available via live web cast through Compugen's Website, located at www.cgen.com.
http://biz.yahoo.com/bw/060209/20060209005407.html?.v=1
Dubi
Compugen reorganizes, plans 25% cut to workforce
CEO Alex Kotzer: This very painful step will improve our ability to support and achieve development and commercial objectives.
Globes correspondent 4 Dec 05 17:11
Compugen (Nasdaq: CGEN; TASE: CGEN) today announced organizational changes to support its development and commercialization plans for 2006 and 2007. The company is being reorganized into three operating units: a therapeutics business unit, a diagnostic biomarkers business unit, and a research and discovery unit.
The key driver for these organizational changes has been Compugen's desire to focus all resources and activities on short and mid-term development and commercialization goals. The net result of these efforts is a planned reduction in the company's total headcount by approximately 25%, and an expected decrease in expenditures of $2-3 million per year in 2006 and 2007, compared to 2005.
The therapeutics business unit's primary short term focus is the on-going in-vitro and in-vivo validation of a large number of potential therapeutic proteins predicted by the company's initial discovery engines, and selected for further evaluation on the basis of market potential, proprietary position, and therapeutic advantages. This business unit will be led by Dr. Noam Shani, previously VP biology R&D.
All of the company's activities in the field of diagnostic biomarkers have been consolidated into a diagnostic biomarker business unit that will be led by Dr. Anat Cohen-Dayag, previously director of diagnostics within the biology R&D division.
The research and discovery unit was established to both provide new discoveries for evaluation by the therapeutic and diagnostic business units, as well as to be responsible for the creation of additional discovery engines and other platforms and technologies to continue to secure the Company's leadership in predictive biology and its future growth. This new unit will be headed by Dr. Yossi Cohen, previously director of science and technology.
Compugen president and CEO Alex Kotzer said, "It is now both possible and appropriate for the company to target the unique discovery capability that has been created to specific product areas and, while continuing to invest substantially in the further enhancement of our core research, to also focus these activities in broad, but clearly defined, application areas. Unfortunately, this results in a number of very talented and loyal contributors to our past efforts and accomplishments leaving the company, which is a very painful step for us to take. However, it is clear that these actions significantly improve Compugen's ability to support and achieve its development and commercial objectives".
Compugen is a drug and diagnostic discovery company incorporating ideas and methods from mathematics, computer science, and physics into biology, chemistry, and medicine. The company has an early stage in-house pipeline consisting of selected therapeutic protein candidates discovered by the company. Additional diagnostic discoveries have been out-licensed for development under milestone and royalty bearing agreements. Compugen has established a small-molecule drug discovery affiliate - Keddem Bioscience, and an agricultural biotechnology affiliate - Evogene.
Published by Globes [online], Israel business news - www.globes.co.il - on Sunday, December 04, 2005
Dubi
Wow, fascinating coincidence Dew,
I have just submitted a buy order for CGEN
500@1221 at TASE.(not executed yet)
My take is that a bounce might take place,
All in all, I have no faith in the company,
and unless bought out in order to serve an R&D
center for one of the Big pharmas who are
scouting in increased numbers lately, the
company will come to an end.
Regards,
Dubi
Compugen Announces Organizational Changes and Restructuring
Sunday December 4, 3:00 am ET
Three Units Formed to Support Recently Announced Development and Commercialization Plans
Approximate 25% Reduction of Staff
TEL AVIV, Israel--(BUSINESS WIRE)--Dec. 4, 2005--Compugen Ltd. (NASDAQ:CGEN - News) announced today organizational changes to support its recently disclosed development and commercialization plans for 2006 and 2007. The Company is being reorganized into three operating units: business units for Therapeutics and Diagnostic Biomarkers, and a Research and Discovery Unit.
The Therapeutics Business Unit's primary short term focus is the on-going in-vitro and in-vivo validation of a large number of potential therapeutic proteins predicted by the Company's initial discovery engines, and selected for further evaluation on the basis of market potential, proprietary position, and therapeutic advantages. This business unit will be led by Dr. Noam Shani, previously Vice President, Biology Research and Development.
All of the Company's activities in the field of diagnostic biomarkers, currently the Company's most advanced business area, have been consolidated into a Diagnostic Biomarker Business Unit that will be led by Dr. Anat Cohen-Dayag, previously Director of Diagnostics within the Biology R&D division. During the past year Compugen has demonstrated its ability to discover biomarker candidates, primarily for various cancers and cardiovascular diseases, that are of interest for further development and commercialization by leading companies in the field of immunoassay diagnostics. To date, the Company has entered into milestone and royalty bearing agreements with three leading diagnostic companies covering more than a dozen potential products.
Compugen's key competitive advantage is its scientific and technological infrastructure for life science discovery, and the Company will continue to invest substantial resources in further developing this world-class capability. In the revised organizational structure, a Research and Discovery Unit has been established to both provide new discoveries for evaluation by the therapeutic and diagnostic business units, as well as to be responsible for the creation of additional discovery engines and other platforms and technologies to continue to secure the Company's leadership in predictive biology and its future growth. This new unit will be headed by Dr. Yossi Cohen, previously Director of Science and Technology.
The key driver for these organizational changes has been the desire to focus all of the Company's resources and activities on its short and mid-term development and commercialization goals as disclosed last month. Consistent with this, the objectives and resources required for each segment of the Company were analyzed and updated, resulting in the elimination of some activities that were determined not to directly support the achievement of these corporate goals. The net result of these efforts is a planned reduction in the Company's total headcount by approximately 25%, and an expected decrease in expenditures of $2-3 million per year in 2006 and 2007, compared to 2005.
Alex Kotzer, President and Chief Executive Officer stated, "It is now both possible and appropriate for the Company to target the unique discovery capability that has been created to specific product areas and, while continuing to invest substantially in the further enhancement of our core research, to also focus these activities in broad, but clearly defined, application areas. Unfortunately, this results in a number of very talented and loyal contributors to our past efforts and accomplishments leaving the Company, which is a very painful step for us to take. However, it is clear that these actions significantly improve Compugen's ability to support and achieve its development and commercial objectives," Mr. Kotzer concluded.
About the Unit Leaders:
Noam Shani, Ph.D. - Vice President, Therapeutics
Dr. Shani joined Compugen in 2004 as Vice President, Biology R&D. Prior to joining Compugen he was Vice President, R&D of Medgenics Ltd. Dr. Shani holds a B.Sc. in Biology from Ben-Gurion University, an M.Sc. and Ph.D. in Biology, both from the Weizmann Institute of Science, and completed a postdoctoral fellowship at Johns Hopkins University's School of Medicine.
Anat Cohen-Dayag, Ph.D. -Vice President, Diagnostic Biomarkers
Dr. Cohen-Dayag joined Compugen in 2002 where her most recent position was Director of Diagnostics. Prior to joining Compugen, she was Head of R&D and member of the Executive Management at Mindsense Biosystems Ltd. Dr. Cohen-Dayag holds a B.Sc. in Biology from Ben-Gurion University, and an M.Sc. in Chemical Immunology and a Ph.D. in Cellular Biology, both from the Weizmann Institute of Science.
Yossi Cohen, M.D. - Vice President, Research and Discovery
Dr. Cohen joined Compugen in 2001, where his most recent position was Director of Science and Technology. Dr. Cohen's diverse prior experience includes serving as a physician in the Israeli Defense Forces and holding various software development positions in the Israeli hi-tech industry. Dr. Cohen has a B.Sc. in Electrical and Electronics Engineering from Tel-Aviv University, and an M.Sc. in Neurobiology and an M.D., both from the Hebrew University.
About Compugen
Compugen is a drug and diagnostic discovery company incorporating ideas and methods from mathematics, computer science, and physics into biology, chemistry, and medicine. The Company's powerful predictive models and discovery engines are both advancing the understanding of important biological phenomena and enabling the discovery of numerous potential therapeutic products and diagnostic markers. The Company has an early stage in-house pipeline consisting of selected therapeutic protein candidates discovered by the Company. Additional diagnostic discoveries have been out-licensed for development under milestone and royalty bearing agreements. Compugen has established a small-molecule drug discovery affiliate - Keddem Bioscience, and an agricultural biotechnology affiliate - Evogene. For additional information, please visit Compugen's corporate Website at www.cgen.com.
http://biz.yahoo.com/bw/051204/20051204005030.html?.v=1
Dubi
New management, old habits: Compugen loses $3.6 million in third quarter
03.11.2005 | 09:26
Amir Eisenberg
Tel Aviv-based Compugen (Nasdaq: CGEN) yesterday reported a third-quarter loss of $3.6 million, or 13 cents per share - identical figures to the corresponding quarter of 2004 and somewhat worse than its second quarter loss of $3.3 million or 12 cents per share. The new mgmt hasn't managed to stop the bleed.
Over seven years the company has lost $80 million, of which $10.6 million was lost this year.
Compugen's market cap is $83 million, having lost 14% of its value this year.
As of September 30, the company had $38 million in cash, cash equivalents and marketable securities, down $3 million from June 30.
Alex Kotzer, who came over to Compugen from Serono, took over the reins as CEO and president on September 1. Yesterday he had the mixed pleasure of presenting the company reports for the first time. With Compugen suffering a quarter of heavy losses, Kotzer was the only good news in the report.
Compugen is a drug and diagnostic discovery company that incorporates concepts and methods from mathematics, computer science and physics for use in biology, chemistry and medicine.
Third quarter revenues came to $761,000, compared to $971,000 in the same period of 2004. About $666,000 of that came from government and other grants up from $326,000 in Q3 2004. A hard-core optimist could take comfort in the fact that the $95,000 in non-grant income for the third quarter was an improvement over the previous reporting period, when this sum was only about $70,000.
In the second quarter, Compugen announced collaboration agreements with Diagnostic Products Corporation and with Johnson & Johnson company Ortho-Clinical Diagnostics. The agreements were viewed as potentially lucrative for Compugen, but it now appears that investors will have to continue to wait before seeing returns.
http://www.themarker.com/eng/article.jhtml?ElementId=%2Fibo%2Frepositories%2Fstories%2Fm1_2000%2Far2...
Dubi
Compugen Reports Third Quarter 2005 Financial Results
Wednesday November 2, 7:00 am ET
Alex Kotzer Assumes President and CEO Position
TEL AVIV, Israel--(BUSINESS WIRE)--Nov. 2, 2005--Compugen Ltd. (NASDAQ: CGEN - News) today reported financial results for the third quarter ended September 30, 2005. As previously announced, effective September 1, 2005, Alex Kotzer assumed the position of President and Chief Executive Officer.
"I am delighted to join Compugen at this point in time as the company focuses on developing and commercializing its many potential biomarkers and therapeutic proteins. These potential products are resulting from our pioneering research efforts in predictable methods of discovery," stated Mr. Kotzer.
Martin Gerstel, Compugen's Chairman added, "Alex brings to Compugen many years of relevant experience and a proven track record in managing biotech operations in his previous positions at Serono and InterPharm. His background makes him ideal to lead Compugen as we move forward with the development and commercialization of our diagnostic and therapeutic product candidates as well as to continue to advance our predictive research capabilities and the unique discovery engines based on these capabilities."
Revenues and governmental and other grants for the third quarter of 2005 were $761,000 (including $666,000 from governmental and other grants), compared to $971,000 (including $326,000 from governmental and other grants) for the third quarter of 2004. The net loss for the quarter was $3.6 million (including a non-cash expense of $332,000 for amortization of deferred compensation), or $0.13 per share, compared with a net loss of $3.6 million (including a non-cash expense of $231,000 for amortization of deferred compensation), or $0.13 per share, for the corresponding quarter of 2004.
Revenues and governmental and other grants for the nine months ended September 30, 2005 were $2.1 million (including $1.5 million from governmental and other grants), compared to $3.5 million for the same period in 2004 (including $1 million from governmental and other grants). The net loss for the first nine months of 2005 was $10.6 million (including a non-cash expense of $313,000 for amortization of deferred compensation), or $0.38 per share, compared with a net loss of $10.0 million (including a non-cash expense of $600,000 for amortization of deferred compensation), or $0.36 per share, for the same period in 2004.
As of September 30, 2005, Compugen had $38 million in cash, cash equivalents, and marketable securities, a decrease of $3 million from June 30, 2005.
Conference Call and Web Cast Information
Compugen will hold a conference call to discuss its third quarter results on November 2nd, 2005 at 10:00 AM EST. To access the conference call, please dial 1-866-860-9642 from the US or +972-3-918-0610 internationally. A replay of the conference call will also be available approximately two hours after the completion of the live conference call. To access the replay, please dial 1-866-276-1485 from the US or +972-3-925-5901. The replay will be available until 12 noon EST on November 4th, 2005.
The call will also be available via live Web cast through Compugen's Website, located at www.cgen.com.
http://biz.yahoo.com/bw/051102/25460.html?.v=1
Dubi
Compugen Earnings Conference Call (Q3 2005)
Scheduled to start Wed, Nov 2, 2005, 10:00 am Eastern
http://biz.yahoo.com/cc/6/61826.html
Dubi
Compugen to Present at the BioInvestor Forum
Monday October 17, 9:00 am ET
TEL AVIV, Israel--(BUSINESS WIRE)--Oct. 17, 2005--Compugen Ltd. (Nasdaq:CGEN - News) announced today that Alon Amit, Ph.D., Vice President Science and Technology, Compugen USA Inc., is scheduled to present at the upcoming BIO InvestorForum at 11:20 AM (Pacific Time) on Thursday, October 20, 2005 at the Palace Hotel in San Francisco.
A live Webcast of the presentation will be available at http://www.corporate-ir.net/ireye/confLobby.zhtml?ticker=CGEN&item_id =1148678 (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) on Thursday, October 20, 2005 at 11:20 AM PT / 01:20 PM ET, and a replay will be available for 90 days following the presentation.
About Compugen
Compugen is a drug and diagnostic discovery company incorporating ideas and methods from mathematics, computer science, and physics into biology, chemistry, and medicine. The Company's powerful predictive models and discovery engines are both advancing the understanding of important biological phenomena and enabling the discovery of numerous potential therapeutic products and diagnostic markers. The Company has an early stage in-house pipeline consisting of selected therapeutic protein candidates discovered by the Company; additional discoveries have been out-licensed for development. Among Compugen's customers and partners are leading pharmaceutical and diagnostic companies, such as Abbott Laboratories, Diagnostic Products Corporation, Novartis, and Ortho-Clinical Diagnostics, a Johnson & Johnson company. Compugen has established a small-molecule drug discovery affiliate -- Keddem Bioscience, and an agricultural biotechnology affiliate -- Evogene. For additional information, please visit Compugen's corporate Website at www.cgen.com.
http://biz.yahoo.com/bw/051017/175598.html?.v=1
Dubi
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http://finance.yahoo.com/q/ks?s=CGEN
Compugen Ltd., an early stage drug and diagnostic discovery company, offers therapeutic and diagnostic biomarker product candidates for cancer, cardiovascular, and immune-related diseases in North America and Israel. It develops products using computer-based discovery platforms, as well as through analyzing DNA or RNA sequences, gene expression data, protein network data, data related to drugs in development, and drugs already being commercialized. The company?s validated discovery platforms include Splice Variant based Therapeutic Proteins, Nucleic-Acid Disease Markers, Protein Disease Markers, Monoclonal Antibody Targets, Nucleic-Acid Preclinical Toxicity Markers, Non-SNP Drug Response Markers, GPCR Therapeutic Peptide Ligands, New Indications, Disease-Associated Conformation Blockers, and Viral Peptides Discovery. Its therapeutic product candidates include CGEN-241, a splice variant of the MET receptor; CGEN-855, a peptide agonist of the FPRL1 GPCR receptor; CGEN-856 and CGEN-857, the MAS GPCR peptide agonists; CGEN-25007, an antagonist of the gp96 protein; CGEN-25008, a peptide antagonist of the Clusterin protein; CGEN-25009-4, an agonist peptide of the LGR7 receptor; CGEN-54, a splice variant of the MCP-1; CGEN-34, a splice variant of the peptide ANP; and CGEN-50001, a small molecule drug. The company?s diagnostic products include CGEN-144, a variant of the Troponin I biomarker; CGEN-438, a blood based biomarker for lung cancer; CGEN-6, a secreted splice variant protein; and CGEN-327, a biomarker for ovarian cancer. It also develops plant traits to the agbio industry through the use of a platform combining computational genomics, molecular biology, and breeding methods. Compugen has collaboration and license agreements with Roche; Siemens Healthcare Diagnostics, Inc.; Ortho-Clinical Diagnostics; Biosite; Teva Pharmacuetical Industries; Merck & Co.; Medarex, Inc.; and Bayer Schering Pharma AG. The company was founded in 1993 and is based in Tel Aviv, Israel.
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