Compugen Ltd. reported its financial results for the first quarter ended March 31, 2025, with revenues of approximately $2.3 million, a slight decrease from $2.6 million in the comparable period of 2024. The company recorded a net loss of approximately $7.2 million, or $0.08 per basic and diluted share, consistent with the $7.3 million net loss in Q1 2024.
The reported revenues reflect the recognition of portions of both the upfront payment and the IND milestone payment from the license agreement with Gilead. Research and development expenses for the quarter were approximately $5.8 million, down from $6.4 million in Q1 2024.
As of March 31, 2025, Compugen maintained a cash position of approximately $103.7 million, including proceeds from ATM sales in January and February 2025. The company expects this cash to fund its operating plans into 2027, supporting the advancement of its clinical and early-stage pipeline, including the newly initiated COM701 maintenance therapy trial and the progressing GS-0321 Phase 1 trial.
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