On May 18, 2026 Compugen Ltd. (Nasdaq: CGEN) (TASE: CGEN) a clinical-stage cancer immunotherapy company and a pioneer in computational target discovery powered by AI/ML, reported financial results for the first quarter of 2026 and provided a corporate update.
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"Q1 2026 reflects continued execution across all of our programs in line with our strategic priorities," said Eran Ophir, Ph.D., President and CEO of Compugen. "With enrollment progressing across all COM701 MAIA-ovarian trial sites, we remain on track for having the median progression-free survival at the interim analysis by Q1 2027, a key potential inflection point for COM701 as a maintenance therapy in a patient population with significant unmet medical need and no current standard of care."
Dr. Ophir continued, "Our partner AstraZeneca continues to broadly advance rilvegostomig. Data presented by AstraZeneca at AACR (Free AACR Whitepaper) 2026 reinforces our confidence in its differentiated bispecific design and potential as an immuno-oncology backbone across multiple tumor types, as AstraZeneca progresses rilvegostomig across 11 Phase 3 trials. In addition, we continue to advance the Gilead-partnered GS-0321 Phase 1 trial."
Dr. Ophir concluded, "Our solid financial position with cash runway expected into 2029, based on our current plans, enables us to advance our differentiated immuno-oncology pipeline and leverage our AI/ML powered computational discovery platform Unigen, to discover novel ways to activate the immune system against cancer. I remain encouraged by the progress of our fully owned programs, strengthened by validating partnerships with AstraZeneca and Gilead, which together offer approximately $1 billion in potential milestones plus royalties."
First Quarter 2026 Financial Highlights
Cash: As of March 31, 2026, Compugen had approximately $134.9 million in cash, cash equivalents, short-term bank deposits, and investment in marketable securities.
Compugen expects that its cash and cash-related balances will be sufficient to fund its operating plans into 2029. This does not include any additional cash inflows. The Company has no debt.
Revenue: Compugen reported approximately $2.2 million in revenues for the first quarter ended March 31, 2026, compared to approximately $2.3 million in revenues for the comparable period in 2025. The revenues reported in the first quarters of 2026 and 2025 reflect recognition of portions of both the upfront payment and the IND milestone payment from the license agreement with Gilead.
R&D expenses for the first quarter of 2026 were approximately $6.9 million compared with approximately $5.8 million for the comparable period in 2025. The increase is mainly due to an increase in clinical expenses related to MAIA-ovarian trial as well as drug supply costs supporting our trials.
G&A expenses for the first quarter of 2026 were approximately $2.3 million compared to approximately $2.4 million for the comparable period in 2025.
Net loss for the first quarter of 2026 was approximately $7.7 million, or $0.08 per basic and diluted share, compared with a net loss of approximately $7.2 million, or $0.08 per basic and diluted share, in the comparable period in 2025.
Full financial tables are included below.
Conference Call and Webcast Information
The Company will hold a conference call today, May 18, 2026, at 8:30 AM ET to review its first quarter 2026 results. To access the conference call by telephone, please dial 1-866-744-5399 from the United States, or +972-3-918-0644 internationally. The call will also be available via live webcast through Compugen’s website, located at the following link. Following the live audio webcast, a replay will be available on the Company’s website.
(Press release, Compugen, MAY 18, 2026, View Source [SID1234665821])