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CGEN

Compugen Ltd.

CGEN

Compugen Ltd. • NASDAQ
$1.56 ▼ -1.89% (-0.03)
Market Cap $145.92 M
52w High $2.66
52w Low $1.13
Dividend Yield 0%
P/E -5.2
Volume 132.78K
Outstanding Shares 93.54M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.891M ▲ $8.134M ▲ $-6.979M ▲ -369.064% ▲ $-0.075 ▲ $-6.939M ▲
Q2-2025 $1.257M ▼ $8.021M ▼ $-7.342M ▼ -584.089% ▼ $-0.079 ▼ $-7.359M ▲
Q1-2025 $2.284M ▲ $8.279M $-7.181M ▼ -314.405% ▲ $-0.078 ▼ $-8.395M ▼
Q4-2024 $1.471M ▼ $8.279M ▼ $-6.117M ▼ -415.84% ▼ $-0.068 ▼ $-7.483M ▼
Q3-2024 $17.132M $9.035M $1.276M 7.448% $0.014 $4.496M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $86.088M ▼ $97.845M ▼ $54.019M ▼ $43.826M ▼
Q2-2025 $93.877M ▼ $106.525M ▼ $56.269M ▼ $50.256M ▼
Q1-2025 $103.745M ▲ $115.443M ▲ $58.335M ▼ $57.108M ▲
Q4-2024 $103.255M ▼ $114.995M ▼ $60.081M ▼ $54.914M ▼
Q3-2024 $112.706M $123.516M $63.028M $60.488M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2023 $-9.852M ▼ $0 $0 $0 $30.096M ▲ $0
Q2-2023 $-9.276M ▲ $0 $0 $0 $-56.632M ▼ $0
Q1-2023 $-9.339M ▼ $0 ▲ $0 ▼ $0 ▲ $62.897M ▲ $0 ▲
Q4-2022 $-3.092M ▲ $-23.032M ▼ $40.388M ▲ $-18.412M ▼ $-1.056M ▼ $-23.383M ▼
Q3-2022 $-11.748M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Compugen is still very much in the “investment phase”: revenue is tiny and irregular, coming mainly from collaboration and milestone payments rather than product sales. The core business runs at a loss, but operating and net losses have been gradually shrinking over the past few years, showing better cost control and growing partner income. Profitability is not in sight yet and will depend heavily on the success and timing of clinical milestones, not on a broad, recurring revenue base.

Balance Sheet

Balance Sheet The balance sheet is light but relatively clean. The company holds a modest cash balance, no financial debt, and a small but positive equity base, which means no balance-sheet leverage risk but also not much asset backing. Equity has edged down over time as losses accumulate, suggesting that, absent large new partnerships or milestone payments, future funding could again rely on issuing more shares or new collaborations. Overall, this is a typical profile for a small clinical-stage biotech: asset-light, no debt, but sensitive to financing conditions and trial outcomes.

Cash Flow

Cash Flow Historically, Compugen used cash each year to fund R&D and operations, as expected for a clinical-stage biotech. More recently, operating and free cash flow turned positive, likely driven by milestone or upfront payments from partners rather than by steady operating income. This provides welcome breathing room and supports the stated cash runway, but it is not yet evidence of a self-funding business model. Future cash flows will continue to hinge on the pace of R&D spending and the arrival of additional partner payments or new deals.

Competitive Edge

Competitive Edge Compugen competes in a crowded and rapidly evolving immuno-oncology space but differentiates itself through its proprietary AI-driven Unigen platform and its focus on novel immune checkpoints. Its early discovery of targets like PVRIG and its intellectual property around the DNAM-1 axis give it a specialized niche rather than broad market dominance. Partnerships with major pharma companies, including AstraZeneca and Gilead, validate its science and extend its reach, but they also create dependence on partners’ priorities, timelines, and trial outcomes. Overall, Compugen’s edge lies in target discovery and smart partnering, not in commercial scale or marketing muscle—at least not yet.

Innovation and R&D

Innovation and R&D Innovation is the core of Compugen’s identity. The Unigen platform uses AI and large biological datasets to find new immune targets, and the company is pushing a differentiated strategy around blocking the DNAM-1 axis using assets like COM701 and COM902, plus potential triple-combination regimens. Partnered programs, including AstraZeneca’s bispecific antibody in late-stage trials and Gilead’s antibody program, showcase how Compugen’s discoveries can feed into larger pipelines and may generate future milestones and royalties. R&D spending is the main driver of current losses, but it is also the main value engine: success or failure of ongoing trials and new target discovery will largely determine the company’s long-term relevance.

Summary

Compugen looks like a classic high-risk, high-uncertainty clinical-stage biotech: small revenues, persistent but narrowing losses, no debt, and cash that currently appears sufficient but not permanent. The economic story is driven far more by scientific progress, partnerships, and clinical data than by traditional operating trends. Its AI-enabled discovery platform, focused immuno-oncology pipeline, and relationships with major pharma players provide meaningful upside potential if programs advance successfully. At the same time, concentration in a few key assets, heavy reliance on external partners, and the inherent uncertainty of oncology drug development mean the financial profile could change quickly in either direction as trial and partnership news unfolds.

NEWS

November 10, 2025 · 7:00 AM UTC

Compugen Reports Third Quarter 2025 Results

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November 4, 2025 · 7:00 AM UTC

Compugen to Participate in Stifel 2025 Healthcare Conference

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October 27, 2025 · 7:00 AM UTC

Compugen to Release Third Quarter 2025 Results on Monday, November 10, 2025

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October 13, 2025 · 7:00 AM UTC

Compugen to Present Pooled Analysis of COM701 in Three Phase 1 Trials in Patients with Platinum Resistant Ovarian Cancer at ESMO 2025

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October 6, 2025 · 7:00 AM UTC

Compugen to Present at SITC 2025

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