What You Absolutely Can’t Miss: Compugen Ltd. (NASDAQ: CGEN)
Compugen Ltd. (NASDAQ: CGEN) stock rose 2.08% and closed at 5.4. The stock opened the session at $5.18 and touched its highest price point at $5.54. Its recent trading capacity is 220,912 shares versus to its average trading volume of 184020 shares. The company’s stock’s lowest price point for the session stood at $5.15. CGEN traded as low as $ 2 in the past 52 weeks, and shares hit its peak level to $6.22.
Compugen Ltd. (CGEN) recently stated financial results for the third quarter ended September 30, 2019.
“Our first presentation of clinical data last week at SITC 2019 is an important milestone for Compugen,” stated Anat Cohen-Dayag, Ph.D., President and CEO of Compugen. “We are encouraged by the initial signals of anti-tumor activity seen with COM701, a first-in-class PVRIG inhibitor, in the monotherapy dose escalation arm of the study treating a very challenging patient population. We believe these results lay a promising foundation for our ongoing and future studies and that our biomarker-driven strategy which focuses on indications we prioritized as most relevant to the PVRIG pathway has the potential to maximize the clinical impact of COM701. We look forward to testing our clinical hypotheses as we advance COM701 to the next stages of our Phase 1 study.”
Financial Results
R&D expenses for the third quarter ended September 30, 2019, were $4.3M, contrast with $7.8M for the comparable period in 2018. The decrease in R&D expenses was primarily Because of the decrease in preclinical activities related to COM902, most of which were completed in 2018, and the cost reduction measures reported by the Company in the first quarter of 2019.
Net loss for the third quarter of 2019 was $6.5M, or $0.1 per basic and diluted share, contrast with a net loss of $3.1M, or $0.05 per basic and diluted share, in the comparable period of 2018.
As of September 30, 2019, cash, cash equivalents, short-term bank deposits and restricted cash totaled $47.6M, contrast with $45.7M as of December 31, 2018. The Company has no debt.
The short ratio in the company’s stock is documented at 17.38 and the short float is around of 4.79%. The average true range of the stock is observed at 0.37 and the relative strength index of the stock is recorded at 64.23. Analyst recommendation for this stock stands at 1.00. The volatility in the previous week has experienced by 11.30% and observed of 7.09% in the previous month.35.40% ownership is held by institutional investors while insiders hold ownership of 12.00%.