Compugen Ltd. (NASDAQ:CGEN) has announced its Q3 2020 financial results for the period ended September 30, 2020.
Compugen provides updates on PVRIG, Opdivo® and TIGIT combination study
Anat Cohen-Dayag, Compugen’s CEO and President, said that during the quarter the company reached a huge milestone. The company initiated its biomarker-driven Phase 1/2 triple combination COM701 trial, its anti-PVRIG antibody with Bristol Myers Squibb’s Opdivo® and their investigational TIGIT antibody. Cohen-Dayag said that this marks the evaluation of the company’s DNAM hypothesis in clinical testing. Although other companies are evaluating TIGIT and PD-1 inhibitor combinations, the CEO said that they are optimistic that PVRIG inhibition will be a vital component in the DNAM axis.
He also added that the simultaneous blockade of TIGIT, PVRIG and PD-1 is necessary for addressing non-responsive cancer patient populations where there are dominant three pathways. Notably, Compugen is the only company currently having a clinical asset targeting PVRIG. Since the company is a leader in the space, it is in a better position to address the question.
Most importantly, Compugen is executing its other clinical studies well and continues to enrol patients in the COM701 monotherapy expansion group. During the third quarter, the company doses the first patient in the combination study evaluating TIGIT, PVRIG and PD-1. Data collection in the dual dose-escalation study of the COM701 combination with Opdivo is ongoing. Results from the studies will be out in 1H 2021.
Compugen evaluating COM902
In the TIGIT space, the company is continuing with the clinical progress of COM902, TIGIT inhibitor with patient enrolment in the dose-escalation study on track, and data will be available in 2021. Compugen continues to foster research in the understanding of the unique DNAM axis biology to support the company’s strong scientific foundation that has been vital to its success. Cohen-Dayag stated that they are looking forward to the planned data readout in 2021, which will offer more insight into the PVRIG’s role within the DNAM axis pathway.
The company ended the quarter with $133 million in cash and cash equivalents.