Ladies and gentlemen, thank you for joining us today for Compugen’s Second Quarter 2024 Results Conference Call. I would like to recap some key points discussed during the call.
Compugen has achieved FDA clearance for the R&D application to initiate a Phase I trial for COM503, a potential first-in-class high-affinity anti-IL-18 binding protein antibody licensed to Gilead. This milestone triggered a $30 million milestone payment from Gilead, strengthening the company’s balance sheet with an expected cash runway into 2027.
The company is on track to report data from the COM701, COM902, and pembrolizumab triple combination proof-of-concept study in patients with platinum-resistant ovarian cancer in the fourth quarter of this year. The data will be presented at a medical conference, showcasing the potential benefits of this combination therapy.
Compugen’s differentiated approach to harness cytokine biology in treating cancer has led to the development of novel targets like COM503. The company continues to use its AI-driven platform to identify new targets and develop innovative therapies for various diseases.
The upcoming data presentation in platinum-resistant ovarian cancer aims to demonstrate the clinical benefit of the COM701 combination, with a focus on safety, efficacy, and durability of responses. While the data may not be as mature as previous datasets, early observations show promising results in a challenging patient population.
Overall, Compugen remains focused on advancing its pipeline of immuno-oncology therapies and delivering value to shareholders and cancer patients. The company’s innovative research, strategic partnerships, and financial strength position it well for future success in the biopharmaceutical industry.
Thank you for your participation in today’s call. We look forward to sharing more updates and milestones in the coming months.