Skip to main content
Premium Trial:

Request an Annual Quote

Compugen Reports Drop in Q1 Revenues

NEW YORK, April 21 (GenomeWeb News) - Tel Aviv, Israel-based Compugen today reported revenues of $1.5 million for its fiscal first quarter ending March 31, and a net loss of $3 million.


The company attributed the loss in revenues primarily from implementing a repositioning of its business to focus on drug development.


The first quarter revenues of $1.5 million included $401,000 from research and development grants, compared to $2.6 million, including $455,000 in R&D grants, for the year-ago quarter.


Net loss was $3 million, including a non-cash charge of $238,000 for the amortization of deferred compensation, compared to a net loss of $2.3 million, including $94,000 of deferred compensation, for the same quarter in 2003.


The company reported research and development expenses of $2.9 million, compared to $3.2 million for the year-ago quarter.


The company had $58.1 million in cash, cash equivalents, and marketable securities on hand at the end of the quarter, compared to $60.5 million in cash, cash equivalents, and marketable securities on Dec. 31, 2003.


In a statement, the company said that it expects to spend from $15 to $17 million for the calendar year, and expects to have a year-end balance of approximately $45 million.

The Scan

Genetic Risk Factors for Hypertension Can Help Identify Those at Risk for Cardiovascular Disease

Genetically predicted high blood pressure risk is also associated with increased cardiovascular disease risk, a new JAMA Cardiology study says.

Circulating Tumor DNA Linked to Post-Treatment Relapse in Breast Cancer

Post-treatment detection of circulating tumor DNA may identify breast cancer patients who are more likely to relapse, a new JCO Precision Oncology study finds.

Genetics Influence Level of Depression Tied to Trauma Exposure, Study Finds

Researchers examine the interplay of trauma, genetics, and major depressive disorder in JAMA Psychiatry.

UCLA Team Reports Cost-Effective Liquid Biopsy Approach for Cancer Detection

The researchers report in Nature Communications that their liquid biopsy approach has high specificity in detecting all- and early-stage cancers.