Compugen Revenue Tops Forecast at $2.2M, Shares Surge 18% Despite Loss
Compugen reported Q1 revenue of $2.2 million, surpassing estimates of $1.63 million, while posting a loss of $0.08 per share versus the expected $0.07. Shares jumped over 18% as the company highlighted $134.9 million in cash reserves supporting operations into 2029 and pipeline progress.
1. Financial Results
Compugen reported Q1 2026 revenue of $2.2 million, exceeding consensus of $1.63 million, despite a quarterly loss of $0.08 per share versus the $0.07 expected. Quarterly revenue declined 4% year-over-year from $2.3 million in Q1 2025.
2. Investor Response
Shares of Compugen surged more than 18% in premarket trading following the release, driven by better-than-expected top-line performance and confidence in the company’s development plans.
3. Clinical Pipeline Progress
Enrollment in the COM701 MAIA-ovarian trial continues across U.S., Israel and France sites, with an interim analysis slated for Q1 2027. Partner programs include AstraZeneca’s 11 ongoing Phase 3 studies of rilvegostomig and Gilead’s GS-0321 Phase 1 trial progressing as planned.
4. Cash Position and Expenses
R&D spending rose to $6.9 million from $5.8 million year-over-year due to higher trial and drug supply costs, while G&A expenses eased to $2.3 million. Total cash, equivalents and securities stood at $134.9 million, projected to fund operations through 2029.