olivLaw · US equity research
Compugen Ltd. CGEN
Biological Products, (No Diagnostic Substances) · SIC 2836 · Vertical: Biological Products, (No Diagnostic Substances) (SIC 2836)
Compugen Ltd. is a clinical-stage therapeutic discovery company using its AI/ML Unigen platform to identify new drug targets in cancer immunotherapy. In 2025 it reported a net profit, mainly due to an upfront payment from AstraZeneca, and its pipeline centers on COM701, an anti-PVRIG antibody in a Phase 1 ovarian cancer study with an interim analysis expected in the first quarter of 2027. With the immune checkpoint inhibitors market estimated at 58.53 billion USD in 2025, the company's direction is relevant to investors and researchers.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Compugen Ltd. (CGEN) stock was 2.03 USD (+1.00% on the day), with market capitalisation 191.9 m USD, P/E 5.3 on diluted EPS of 0.38 USD over the last 12 months, beta 1.42, 52-week range 1.47–3.10 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 45.1
- neutral
- Bollinger (20, 2)
- 1.88 – 2.16
- in the upper half of the band · %B 0.54 · band width 13.8%
- SMA 50 / 200
- 2.28 / 2.29
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.07 / -0.09
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −12.1% | −1.1% | −11.0 pp | — |
| 3 months | −11.0% | −0.5% | −10.5 pp | — |
| 6 months | −26.4% | +4.4% | −30.8 pp | — |
| Year to date | +32.7% | +12.3% | +20.4 pp | — |
| 1 year | +26.1% | +13.5% | +12.5 pp | +5.3% |
| 3 years | +174.3% | +76.4% | +97.9 pp | −6.6% |
| 5 years | −69.8% | +63.7% | −133.5 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 1-quarter history (min 4.0, median 4.0, max 4.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17.8 m | unavailable | 2.0 m | 6.0 m | 7.5 m | 33.5 m | 27.9 m | 72.8 m |
| Revenue YoY | unavailable | unavailable | unavailable | +200.0% | +25.0% | +346.1% | −16.7% | +161.1% |
| Net income | -22.6 m | -27.3 m | -29.7 m | -34.2 m | -33.7 m | -18.8 m | -14.2 m | 35.3 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -0.41 | -0.43 | -0.37 | -0.41 | -0.39 | -0.21 | -0.16 | 0.38 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -127.0% | unavailable | -1,484.9% | -570.1% | -449.3% | -56.1% | -51.1% | 48.6% |
| Free cash flow | -13.4 m | -28.0 m | -28.5 m | -23.0 m | -34.6 m | -36.1 m | 49.5 m | 31.3 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 90.6 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 102.7 m USD
- Total assets
- 156.6 m USD
- Debt / equity
- unavailable
- Current ratio
- 6.56x
- ROE
- 44.8%
- ROA
- 26.0%
- FCF margin
- 43.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.0 m | 6.0 m | 7.5 m | 33.5 m | 27.9 m | 72.8 m | SEC (XBRL)· 02 Mar 2026verified |
| Cost of revenue | 60.0 k | 680.0 k | 975.0 k | 2.0 m | 7.9 m | 9.3 m | SEC (XBRL)· 02 Mar 2026verified |
| Gross profit | 1.9 m | 5.3 m | 6.5 m | 31.5 m | 19.9 m | 63.5 m | SEC (XBRL)· 02 Mar 2026verified |
| Research & development | 22.8 m | 28.7 m | 30.6 m | 34.5 m | 24.8 m | 22.8 m | SEC (XBRL)· 02 Mar 2026verified |
| Operating income | -31.5 m | -35.1 m | -35.4 m | -13.0 m | -14.9 m | 31.3 m | SEC (XBRL)· 02 Mar 2026verified |
| Interest expense | 42.0 k | 25.0 k | 27.0 k | 31.0 k | 34.0 k | 28.0 k | SEC (XBRL)· 02 Mar 2026verified |
| Pre-tax income | -29.7 m | -34.2 m | -33.6 m | -9.8 m | -9.7 m | 35.4 m | SEC (XBRL)· 02 Mar 2026verified |
| Income tax | 0 | 0 | 58.0 k | 9.0 m | 4.5 m | 54.0 k | SEC (XBRL)· 02 Mar 2026verified |
| Net income | -29.7 m | -34.2 m | -33.7 m | -18.8 m | -14.2 m | 35.3 m | SEC (XBRL)· 02 Mar 2026verified |
| Diluted EPS | -0.37 | -0.41 | -0.39 | -0.21 | -0.16 | 0.38 | SEC (XBRL)· 02 Mar 2026verified |
| Weighted average diluted shares | 79.6 m | 84.2 m | 86.6 m | 87.6 m | 89.5 m | 93.8 m | SEC (XBRL)· 02 Mar 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 7.1 m | 7.8 m | 11.1 m | 13.9 m | 18.2 m | 90.6 m | SEC (XBRL)· 02 Mar 2026verified |
| Receivables | 2.0 m | — | — | — | — | — | SEC (XBRL)· 25 Feb 2021verified |
| Current assets | 129.1 m | 123.2 m | 86.1 m | 114.6 m | 106.0 m | 148.0 m | SEC (XBRL)· 02 Mar 2026verified |
| Property, plant & equipment, net | 1.7 m | 1.7 m | 1.5 m | 1.2 m | 852.0 k | 681.0 k | SEC (XBRL)· 02 Mar 2026verified |
| Total assets | 138.3 m | 132.2 m | 94.2 m | 121.3 m | 115.0 m | 156.6 m | SEC (XBRL)· 02 Mar 2026verified |
| Accounts payable | 1.4 m | 4.6 m | 1.8 m | 3.5 m | 1.8 m | 2.4 m | SEC (XBRL)· 02 Mar 2026verified |
| Current liabilities | 10.5 m | 17.1 m | 11.9 m | 26.3 m | 20.2 m | 22.6 m | SEC (XBRL)· 02 Mar 2026verified |
| Equity | 119.8 m † | 106.7 m † | 77.7 m † | 65.6 m † | 54.9 m † | 102.7 m † | SEC (XBRL)· 02 Mar 2026verified |
| Shares outstanding at year end | 83.7 m | 86.4 m | 86.6 m | 89.2 m | 89.5 m | 94.6 m | SEC (XBRL)· 02 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -28.3 m | -22.7 m | -34.1 m | -35.9 m | 49.6 m | 31.6 m | SEC (XBRL)· 02 Mar 2026verified |
| Capex | 166.0 k | 292.0 k | 477.0 k | 172.0 k | 118.0 k | 306.0 k | SEC (XBRL)· 02 Mar 2026verified |
| Free cash flow | -28.5 m ≈ | -23.0 m ≈ | -34.6 m ≈ | -36.1 m ≈ | 49.5 m ≈ | 31.3 m ≈ | SEC (XBRL)· 02 Mar 2026derived |
| Investing cash flow | -82.2 m | 6.6 m | 37.1 m | 35.5 m | -46.3 m | 30.0 m | SEC (XBRL)· 02 Mar 2026verified |
| Financing cash flow | 108.5 m | 16.8 m | 353.0 k | 3.1 m | 554.0 k | 10.6 m | SEC (XBRL)· 02 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 50.0% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 191.9 m USD
Key indicators
Coverage and freshness
Score by group
50% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 6.35 – 12.57 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E6.35 – 12.57 (Mid 9.36)7 companies used · median multiple 24.6x · quartiles 16.7x – 33.1xAGEN, ALVO, AMGN, EXEL, HALO, NBIX, PLX
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 50.0% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 48.6% | 97 (vs peers) | 13% |
| FCF conversion · Quality | 88.6% | 84 (on a fixed band) | 13% |
| Revenue CAGR 3Y · Growth | 113.3% | 100 (on a fixed band) | 17% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1,118.8x | 100 (on a fixed band) | 13% |
| Current ratio · Balance sheet | 6.6x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 5.3x | 88 (vs peers) | 21% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 16.3% | 100 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 2/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality90/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation93/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
COMPUGEN LTD (CGEN). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 72.8 m USD in 2025; YoY growth 161.1%; net margin 48.6%; ROE 44.8%.
The estimated value range is 6.35–12.57 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 9.36 USD, the price of 2.03 USD leaves a potential of 361.3% (value / price − 1) and a margin of safety of 78.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 50.0% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 48.6%
- FCF conversion: 88.6%
- Revenue CAGR 3Y: 113.3%
- Interest coverage: 1,118.8x
- Current ratio: 6.6x
- P/E (TTM): 5.3x
- FCF yield: 16.3%
- The price is below the estimated value range
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Biological Products, (No Diagnostic Substances) (SIC 2836) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AMGNAmgen Inc. | 258.8 bn | 27.7 | 78.4% | 24.1% | +10.0% | +39% / +77% |
| GILDGilead Sciences, Inc. | 216.4 bn | — | -22.3% | -12.5% | +2.4% | +39% / +128% |
| MRNAModerna, Inc. | 103.2 bn | — | -39.0% | -141.4% | −39.9% | +895% / +233% |
| RVMDRevolution Medicines, Inc. | 43.2 bn | — | -93.6% | -946.8% | unavailable | +157% / +756% |
| BIIBBiogen Inc. | 37.6 bn | 108.8 | 1.9% | 3.4% | +2.2% | +40% / +9% |
| EXELExelixis, Inc. | 17.8 bn | 21.7 | 44.3% | 35.5% | +7.0% | +65% / +234% |
| NBIXNeurocrine Biosciences, Inc. | 16.8 bn | 24.6 | 20.4% | 19.0% | +21.4% | +9% / +42% |
| HALOHalozyme Therapeutics, Inc. | 14.8 bn | 38.4 | 173.7% | 24.9% | +37.6% | +83% / +238% |
| KYMRKymera Therapeutics, Inc. | 11.6 bn | — | -27.3% | -341.8% | −16.7% | +101% / +556% |
| BEAMBeam Therapeutics Inc. | 2.9 bn | — | -11.3% | -73.9% | +120.0% | +10% / −1% |
| BCRXBiocryst Pharmaceuticals, Inc. | 2.1 bn | — | — | -37.4% | +94.1% | +15% / +40% |
| MAZEMaze Therapeutics, Inc. | 1.9 bn | — | -37.3% | -5,343.6% | unavailable | −12% / unavailable |
| ALVOAlvotech | 1.5 bn | 46.7 | — | 4.8% | +19.7% | −8% / −51% |
| CGEMCullinan Therapeutics, Inc. | 803.8 m | — | -50.3% | — | −100.0% | +10% / +53% |
| CADLCandel Therapeutics, Inc. | 692.5 m | — | -81.8% | — | 0.0% | +90% / +907% |
| FDMT4D Molecular Therapeutics, Inc. | 611.3 m | — | -43.3% | -194.7% | +230,194.6% | +5% / −3% |
| ATYRaTYR PHARMA INC | 606.2 m | — | -98.4% | -32,003.7% | −19.1% | +691% / +375% |
| ALLOAllogene Therapeutics, Inc. | 411.1 m | — | -42.4% | -3,566.7% | −100.0% | −18% / −49% |
| AUTLAutolus Therapeutics plc | 367.3 m | — | -133.0% | -238.7% | +644.9% | −2% / −68% |
| FENCFennec Pharmaceuticals Inc. | 362.9 m | — | -18.6% | -5.5% | −6.1% | +26% / +20% |
| AGENAgenus Inc | 313.8 m | 2.6 | — | 69.3% | +10.4% | +53% / −55% |
| OCGNOcugen, Inc. | 296.7 m | — | — | -1,367.6% | +8.8% | −29% / +126% |
| ALECAlector, Inc. | 254.6 m | — | -385.1% | -850.1% | −79.1% | +71% / −58% |
| PLXProtalix BioTherapeutics, Inc. | 216.7 m | 11.7 | 31.2% | 23.5% | −1.2% | +51% / +78% |
| CGENCompugen Ltd | 191.9 m | 5.3 | 44.8% | 48.6% | +161.1% | +26% / +174% |
1- and 3-year price returns: for CGEN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.30 Total return -36% · Per year -36% | 2.30 Total return 13% · Per year 13% | 3.44 Total return 70% · Per year 70% |
| 3 years | 1.55 Total return -24% · Per year -9% | 3.04 Total return 50% · Per year 14% | 4.96 Total return 144% · Per year 35% |
| 5 years | 1.84 Total return -10% · Per year -2% | 4.02 Total return 98% · Per year 15% | 7.14 Total return 252% · Per year 29% |
- Exit P/E± 0.76
- Net margin± 0.53
- Annual revenue growth± 0.40
- Annual dilution± 0.04
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 02 Mar 2026; since then the company filed 6-K (10 Sept 2026), 6-K (03 Aug 2026), 6-K (18 May 2026).
In brief
Compugen Ltd. is a clinical-stage therapeutic discovery company using its AI/ML Unigen platform to identify new drug targets in cancer immunotherapy. In 2025 it reported a net profit, mainly due to an upfront payment from AstraZeneca, and its pipeline centers on COM701, an anti-PVRIG antibody in a Phase 1 ovarian cancer study with an interim analysis expected in the first quarter of 2027 1. With the immune checkpoint inhibitors market estimated at 58.53 billion USD in 2025 1, the company's direction is relevant to investors and researchers.
SWOT
Strengths
- The Unigen platform integrates advanced computation with immuno-oncology research and has enabled identification of several novel targets 1.
- The company has partnerships with large pharmaceutical companies that bring funding and milestone-linked payments 1.
- The pipeline includes candidates in clinical studies, including a licensed program advancing in later phases 1.
Weaknesses
- The company has recorded losses in prior years and carries a significant accumulated deficit, while the 2025 profit was a single occurrence 1.
- Revenues depend on a small number of collaboration agreements, and 2025 receipts were dominated by a one-time payment 1.
- Dependence on third parties for clinical trials and manufacturing raises the risk of delays and additional costs 1.
Opportunities
- The immune checkpoint inhibitors market is expanding quickly, which could open new licensing agreements for targets discovered through the platform 1.
- If the MAIA-ovarian interim analysis is favorable, COM701 could become a stronger basis for new partnerships 1.
- The potential to find biomarkers for patient selection could improve the probability of success of clinical studies 1.
Threats
- Setbacks in the TIGIT field have reduced the estimated value of COM902, and further failures could weigh on confidence in the category 1.
- Competition in immunotherapy is intense, and other developers could reach the market first with similar products 1.
- Dilution exists if future funding is raised through share issuances, and terms could be unfavorable 1.
Risks
- Dependence on clinical successhigh
Efficacy and safety of the candidates have not been demonstrated, and failure in trials could halt major programs 1.
- Need for additional fundinghigh
The company expects it will need more funds, and without them it could have to reduce or stop operations 1.
- Dependence on partnersmedium
Termination or changes to existing agreements could materially affect revenues and the financial position 1.
- Events in other trials on the same targetmedium
Adverse effects or lack of efficacy in other companies' studies may affect Compugen's programs, including patient enrollment 1.
- Regional and currency riskslow
Conditions in Israel and the Middle East, along with dollar to Israeli shekel exchange rate movements, can affect operations and results 1.
Investment thesis
What would need to be true (bull case)
- If the Unigen platform yields targets that lead to new partnerships, the company could turn its computational advances into recurring revenue 1.
- A favorable interim analysis in the MAIA-ovarian study could support COM701's value and attract new partners 1.
- The growing immune checkpoint inhibitors market could create demand for the company's technology 1.
What would break the thesis
- The company does not yet have a proven commercial business model, and revenues could remain irregular and dependent on a few agreements 1.
- Setbacks in the TIGIT field could limit the value of programs tied to that target in the near term 1.
- If future funding is raised through new shares, current shareholders could face significant dilution 1.
What to watch
- Interim analysis result of the MAIA-ovarian study for COM701Q1 2027
- Progress of AstraZeneca's rilvegostomig studies2027
- New collaboration or licensing agreements for targets from the Unigen platform2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 02 Mar 2026; since then the company filed 6-K (10 Sept 2026), 6-K (03 Aug 2026), 6-K (18 May 2026).
The business
Compugen defines its business model as selectively entering collaborations for novel targets and drug candidates at various stages of research and development under revenue-sharing arrangements 1. The Unigen platform, based on artificial intelligence and machine learning, is its key differentiator and has allowed targets to advance from computer prediction to clinical studies 1. The company stated that the only clinical trial it currently sponsors and conducts is a blinded randomized ovarian cancer study of COM701 1.
The company's revenues depend on partnerships, and in 2025 they came mainly from the 65 million USD upfront payment received from AstraZeneca 1. It has two collaboration agreements in effect, with AstraZeneca and with Gilead Sciences, Inc. 1. Historical losses and dependence on a small number of programs mean future results remain uncertain 1.
The company said its existing funds are expected to be sufficient for operations into 2029, based on current plans and without considering any additional receipts 1. If plans change or the cash burn rate increases, that period could be shorter 1.
Segments
COM701 (anti-PVRIG)
COM701 is the lead internal program, a humanized antibody binding PVRIG with high affinity, being tested in the MAIA-ovarian study in relapsed platinum sensitive ovarian cancer, with an interim analysis expected in the first quarter of 2027 1.
Rilvegostomig (AstraZeneca)
Rilvegostomig is a PD-1/TIGIT bispecific antibody derived from the COM902 program, developed by AstraZeneca under an exclusive license and being evaluated in multiple Phase 3, Phase 2 and Phase 1 trials 1.
Market context
According to an estimate cited in the report, the global immune checkpoint inhibitors market could reach approximately 229.60 billion USD by 2034, with a compound annual growth rate of 16.40% from 2025 to 2034 1. This growth matters for an immunotherapy developer, but the company's value depends on the clinical results of its programs.
The cancer immunotherapy market is expanding rapidly, and the mechanisms by which tumors evade the immune system are the company's core targets 1. Competition is intense, and failures by other companies targeting the same pathway can affect Compugen's programs 1.
Trends
- Growth of the immune checkpoint inhibitors markettailwind
The cited estimates indicate strong market expansion, which could create partnering opportunities for new candidates if clinical data support their potential 1.
- Recent setbacks in the TIGIT fieldheadwind
The December 2025 announcement that a Phase 3 study was discontinued for futility led the company to stop planning new COM902 trials, as its near-term potential is limited 1.
- Artificial intelligence in drug discoverymixed
The Unigen platform relies on machine learning, an expanding field, but the company acknowledges the approach is not yet clinically proven 1.
- Access to partnerships and fundingmixed
Revenues depend on signing new collaborations, and additional funding may be needed, with possible dilution for existing shareholders if shares are issued 1.
Competitive position
The company operates in a highly competitive and rapidly changing industry, where others could discover or commercialize competing products earlier or more successfully 1. Its stated advantage is integrating computational capabilities with immuno-oncology expertise 1.
Competitive risk is amplified because serious adverse events or lack of efficacy seen at other companies pursuing the same target may affect Compugen's programs 1.
- AstraZenecaAZN
Partner and developer of rilvegostomig, a potential competitor through its own PD-1 and TIGIT programs 1.
- Arcus BiosciencesRCUS
Company that announced discontinuation of a Phase 3 anti-TIGIT combination study, a risk signal for the whole category 1.
- Bristol Myers SquibbBMY
Developer of an anti-TIGIT antibody and former partner whose 2022 termination affected access to PD-1 inhibitors 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)10 Sept 2026
- Current report (foreign issuer)03 Aug 2026
- Current report (foreign issuer)03 Aug 2026
- Current report (foreign issuer)18 May 2026
- Annual report (foreign issuer)02 Mar 2026
- Current report (foreign issuer)02 Mar 2026
- Current report (foreign issuer)12 Feb 2026
- Current report (foreign issuer)17 Dec 2025
- Current report (foreign issuer)10 Nov 2025
- Current report (foreign issuer)14 Oct 2025
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Compugen Ltd. · 02 Mar 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.