Compugen Ltd. ($CGEN) presented its key findings during its R&D Day last week. The event was held in New York City. The company made various announcements including a therapeutic antibody program targeting TIGIT for complementing the Company's CGEN-15029 program. The program will use the new data recently generated for the CGEN-15029/PVRIG program. Compugen is likely to select the lead antibody for CGEN-15137/TIGIT by end of Q1 2017.
The company’s another new therapeutic program will focus on a protein target expressed in various cancers. This protein is also highly correlated with an M2 macrophages marker. The target inhibits T cell activation in cell-based studies. The NYC event featured Prof. Drew Pardoll, Chairman of Compugen's Scientific Advisory Board as he presented overview of various projects of the company.
Earlier this month, the company had announced its quarterly results. It reported is revenue for the quarter ended September 30 stood at $0.07 million while it reported net loss of $7.78 million. Its loss per share stood at $0.13.
Compugen stock showed negative trend, following the announcement of disappointing quarterly numbers. The stock lost 5% in the last one month while its three months loss stands at 11.76%. However, the company has solid prospects as shown by the announcements made during the R&D Day. The stock registered 5% gain during Friday trading session.