Skip to main content
Premium Trial:

Request an Annual Quote

Compugen Posts Q2 Profit on Sale of Investment

NEW YORK (GenomeWeb News) – Compugen today posted a $2.4 million profit for the second quarter due entirely to the sale of $3.6 million worth of shares that it held in Evogene.

The Tel Aviv, Israel-based firm reported total revenues of $225,000 for the three-month period ended June 30, compared to revenues of $40,000 for the second quarter of 2008.

Its net income was $2.4 million, or $.08 per share, compared to a net loss of $3 million, or $.10 per share, for the second quarter of 2008. During the quarter, Compugen sold one million shares of its holdings in Evogene in a private transaction to a single, unidentified purchaser. The $3.6 million in net proceeds were recorded as "other income" for the period.

Compugen's R&D spending declined 38 percent to $1.5 million from $2.4 million, while its SG&A expenses fell around 43 percent to $622,000 from roughly $1.1 million.

Compugen finished the quarter with $6.5 million in cash, cash equivalents, short-term deposits, and marketable securities.

Filed under

The Scan

Interfering With Invasive Mussels

The Chicago Tribune reports that researchers are studying whether RNA interference- or CRISPR-based approaches can combat invasive freshwater mussels.

Participation Analysis

A new study finds that women tend to participate less at scientific meetings but that some changes can lead to increased involvement, the Guardian reports.

Right Whales' Decline

A research study plans to use genetic analysis to gain insight into population decline among North American right whales, according to CBC.

Science Papers Tie Rare Mutations to Short Stature, Immunodeficiency; Present Single-Cell Transcriptomics Map

In Science this week: pair of mutations in one gene uncovered in brothers with short stature and immunodeficiency, and more.