In This Article:
Release Date: November 12, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Compugen Ltd (NASDAQ:CGEN) reported encouraging data from their studies on COM701, COM902, and pembrolizumab in patients with platinum-resistant ovarian cancer, showing durable responses and good tolerability.
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The company received a $30 million milestone payment from Gilead for achieving FDA IND clearance for COM503, indicating strong progress in their partnership.
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Compugen Ltd (NASDAQ:CGEN) has a strong cash position with approximately $113.2 million, expected to fund operations into 2027, providing financial stability.
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The company plans to initiate a new trial in Q2 2025, targeting relapsed platinum-sensitive ovarian cancer patients, which could open new regulatory and commercial opportunities.
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Compugen Ltd (NASDAQ:CGEN) is eligible for future milestone payments and royalties from AstraZeneca's development of bispecific antibodies, representing a significant potential revenue source.
Negative Points
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The overall response rate in the platinum-resistant ovarian cancer study was only 17%, which may be considered low despite the challenging patient population.
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The company faces competition in the ovarian cancer treatment landscape, particularly in maintenance therapy for relapsed platinum-sensitive patients.
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There are concerns about the toxicity and side effects of current treatments like Bevacizumab and PARP inhibitors, which Compugen Ltd (NASDAQ:CGEN) aims to address with their therapies.
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The development of biomarkers for patient selection remains challenging, with no current enrichment strategy for COM701 in the platinum-resistant setting.
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The company's future success is heavily reliant on the outcomes of ongoing and planned clinical trials, which carry inherent risks and uncertainties.
Q & A Highlights
Q: Could you remind me of the number of prior platinum lines required for the proposed phase two study? A: Michelle Maler, Chief Medical Officer: We will target patients who have had two prior lines of chemotherapy with platinum-containing regimens. Patients must have had maintenance with Bevacizumab or a Parp inhibitor and not be candidates for additional maintenance therapy with BEV or Parp. This primarily addresses third-line patients, but there may be exceptions in the second line.
Q: What is your understanding of the proportion of patients who get to third line, are still platinum-sensitive, and have exhausted prior BEV and/or PARP within the maintenance setting? A: Dr. Ola Dapu Yeu, Assistant Professor of Medicine: Most patients will progress through a platinum-sensitive phase. Many patients with stage four disease on diagnosis would have received Bevacizumab. In the first platinum-sensitive setting, most patients would have been exposed to either PARP or Bevacizumab.