Skip to main content
Premium Trial:

Request an Annual Quote

Compugen Posts Revenues in Q3; Will Need to Raise $10M to Stay Solvent Through 2010

NEW YORK (GenomeWeb News) — Compugen yesterday said it posted revenues for the third quarter of 2007 compared with none from the year-ago period, while R&D spending slid 8 percent and net loss grew by 8 percent.
The company reported $90,000 in revenue for the three months ended Sept. 30 compared with no revenue year over year.           
Compugen CEO Alex Kotzer said the revenue came from a milestone payment from an existing immunoassay diagnostic agreement.
Compugen said gross R&D spending in the quarter dipped to $2.3 million from $2.5 million year over year.
Net loss increased to $2.7 million from $2.5 million over the same quarter last year and included a $620,000 stock compensation payout, the company said.
As of Sept. 30, Compugen had $14.2 million in cash, equivalents, short-term deposits, and marketable securities.
Compugen Chairman Martin Gerstel said he expects the company will need around $10 million more to continue through the middle of 2010. However, by that time “we anticipate that the company will be in a very different strategic and financial position,” he said.

The Scan

Mosquitos Genetically Modified to Prevent Malaria Spread

A gene drive approach could be used to render mosquitos unable to spread malaria, researchers report in Science Advances.

Gut Microbiomes Allow Bears to Grow to Similar Sizes Despite Differing Diets

Researchers in Scientific Reports find that the makeup of brown bears' gut microbiomes allows them to reach similar sizes even when feasting on different foods.

Finding Safe Harbor in the Human Genome

In Genome Biology, researchers present a new approach to identify genomic safe harbors where transgenes can be expressed without affecting host cell function.

New Data Point to Nuanced Relationship Between Major Depression, Bipolar Disorder

Lund University researchers in JAMA Psychiatry uncover overlapping genetic liabilities for major depression and bipolar disorder.