Exhibit
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Number
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Description of Exhibit
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COMPUGEN LTD.
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Date: February 27, 2023
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By:
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/s/ Eran Ben Dor
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Eran Ben Dor
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General Counsel
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On track to dose the first patients in MSS CRC and PROC triple combination proof of concept studies in Q1 2023 and Q2 2023, respectively, with the combination of potential first-in-class anti-PVRIG, COM701, potential best-in-class
anti-TIGIT, COM902 and pembrolizumab
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• |
Initial findings from both triple combination studies expected by end of 2023
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• |
Approximately $83.7 million in cash, as of end of 2022, expected to fund operations at least through the end of 2024
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On track to dose first patients in Q1 2023
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Complete enrollment by the end of 2023
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Report initial findings by the end of 2023
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Report full data in H1 2024
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On track to dose first patient in Q2 2023
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Complete 50% enrollment by the end of 2023
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Report initial findings by the end of 2023
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Complete full enrollment in H1 2024
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Continue to monitor patients in studies with Bristol Myers Squibb
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Report findings including PROC longer term follow-up and data collected from biopsies in 2023
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Present pre-clinical data in 2023
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File an IND in 2024
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Proof of Concept Studies
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Treatment
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Tumor type
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Number
of patients
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Inclusion
criteria
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COM701+ COM902+ pembrolizumab
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Metastatic microsatellite stable colorectal cancer
(MSS CRC)
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Up to 20
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≤ 3L prior therapy
PD- (L)1 naive
Includes liver metastases
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COM701+ COM902+ pembrolizumab (*)
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Platinum resistant ovarian cancer
(PROC)
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Up to 40
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≤ 3 lines of prior therapy
ICI naïve
Includes all histologies
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*Following completion of enrollment of the first 20 PROC patients in the triplet arm, the intention is to evaluate the
addition of a doublet arm of up to 20 patients, without anti-TIGIT, COM902
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COMPUGEN LTD.
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
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(U.S. dollars in thousands, except for share and per share amounts)
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Three Months Ended
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Year Ended,
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|||||||||||||||
December 31,
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December 31,
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|||||||||||||||
2022
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2021
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2022
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2021
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|||||||||||||
Unaudited
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Unaudited
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|||||||||||||||
Revenues
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7,500
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-
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7,500
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6,000
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||||||||||||
Cost of revenues
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975
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-
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975
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680
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||||||||||||
Gross profit
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6,525
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-
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6,525
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5,320
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Operating expenses
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||||||||||||||||
Research and development expenses
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7,327
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5,843
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30,648
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28,694
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||||||||||||
Marketing and business development expenses
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191
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211
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932
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842
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||||||||||||
General and administrative expenses
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2,536
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2,726
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10,319
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10,858
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Total operating expenses
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10,054
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8,780
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41,899
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40,394
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Operating loss
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(3,529
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)
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(8,780
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)
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(35,374
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)
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(35,074
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)
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Financial and other income, net
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495
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135
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1,738
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871
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Loss before taxes on income
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(3,034
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)
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(8,645
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)
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(33,636
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)
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(34,203
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)
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Taxes on income
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58
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-
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58
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-
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Net loss
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(3,092
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)
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(8,645
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)
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(33,694
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)
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(34,203
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)
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Basic and diluted net loss per ordinary share
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(0.04
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)
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(0.10
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)
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(0.39
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)
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(0.41
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)
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||||||||
Weighted average number of ordinary shares used in computing basic and diluted net loss per share
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86,624,643
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85,358,848
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86,555,628
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84,203,971
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COMPUGEN LTD.
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CONDENSED CONSOLIDATED BALANCE SHEETS DATA
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(U.S. dollars, in thousands)
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December 31,
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December 31,
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|||||||
2022
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2021
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ASSETS
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Current assets
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Cash, cash equivalents, short-term bank deposits and restricted cash
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83,708
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117,762
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||||||
Other accounts receivable and prepaid expenses
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2,417
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5,460
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Total current assets
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86,125
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123,222
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Non-current assets
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Long-term prepaid expenses
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1,899
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1,911
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Severance pay fund
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2,794
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3,125
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Operating lease right to use asset
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1,826
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2,247
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Property and equipment, net
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1,532
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1,658
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Total non-current assets
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8,051
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8,941
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Total assets
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94,176
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132,163
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LIABILITIES AND SHAREHOLDERS EQUITY
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Current liabilities
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Other accounts payable, accrued expenses and trade payables
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10,981
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12,699
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Current maturity of operating lease liability
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613
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768
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Short-term deferred participation in R&D expenses
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325
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3,629
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Total current liabilities
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11,919
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17,096
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Non-current liabilities
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Long-term deferred participation in R&D expenses
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-
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2,715
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Long-term operating lease liability
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1,312
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1,982
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Accrued severance pay
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3,265
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3,677
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Total non-current liabilities
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4,577
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8,374
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Total shareholders' equity
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77,680
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106,693
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Total liabilities and shareholders' equity
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94,176
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132,163
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