Skip to main content
Premium Trial:

Request an Annual Quote

Compugen s Q1 Revenue Slides By Nearly Half Though Loss Narrows

NEW YORK, April 27 (GenomeWeb News) - Compugen today said that first-quarter revenue declined 58 percent as R&D spending decreased 22 percent and net losses shrank 19 percent.

 

Total receipts for the three months ended March 31 slipped to $200,000 from $481,000 in the year-ago period. Compugen said the decrease is "in line with [its] evolution to utilizing its scientific know-how and computational biology capabilities for the discovery of potential therapeutic and diagnostic products."

 

In a statement, Compugen said it has previously said that its "anticipated primary sources of future revenues" are milestone and revenue-sharing payments from licensing and other arrangements "covering the development and marketing of diagnostic and therapeutic products based on the [its] discoveries.

 

"Compugen anticipates that it will begin to receive such payments from its existing arrangements by the end of this year or early next year, and these revenues are anticipated to increase substantially in the following years as products based on Compugen-discovered molecules progress towards commercialization," the company said in the statement.

 

R&D spending for the quarter fell to $2.7 million from $3.5 million.

 

Net losses narrowed to $3 million, or $.11 per share, from $3.7 million, or $.13 per share, year over year.

 

Compugen said it had around $33.8 million in cash, equivalents, and marketable securities as of March 31.

The Scan

Researchers Develop Polygenic Risk Scores for Dozens of Disease-Related Exposures

With genetic data from two large population cohorts and summary statistics from prior genome-wide association studies, researchers came up with 27 exposure polygenic risk scores in the American Journal of Human Genetics.

US Survey Data Suggests Ancestry Testing Leads Way in Awareness, Use of Genetic Testing Awareness

Although roughly three-quarters of surveyed individuals in a Genetics in Medicine study reported awareness of genetic testing, use of such tests was lower and varied with income, ancestry, and disease history.

Coral Genome Leads to Alternative Amino Acid Pathway Found in Other Non-Model Animals

An alternative cysteine biosynthesis pathway unearthed in the Acropora loripes genome subsequently turned up in sequences from non-mammalian, -nematode, or -arthropod animals, researchers report in Science Advances.

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.