HOLON, Israel, June 13,
2023 /PRNewswire/ -- Compugen Ltd. (NASDAQ: CGEN)
(TASE: CGEN) a clinical-stage cancer immunotherapy company and a
pioneer in computational target discovery, announced
today that on June 12, 2023, it
received a notification letter (the "Notification Letter") from the
Listing Qualifications Department of The Nasdaq Stock Market LLC
("Nasdaq") notifying the Company that it had regained compliance
with the minimum bid price requirement set forth in the Nasdaq
Listing Rule 5550(a)(2) (the "Nasdaq Capital Market Minimum Bid
Price Requirement").
As announced on November 2, 2022,
the company was notified that its ordinary shares failed to
maintain a minimum bid price of $1.00
over the previous 30 consecutive business days as required by
Nasdaq Listing Rule 5450(a)(1) (the "Nasdaq Global Market Minimum
Bid Price Requirement"). As announced on May 3, 2023, Nasdaq approved the Company's
request to transfer the listing of its ordinary shares from the
Nasdaq Global Market to the Nasdaq Capital Market, at which time
Nasdaq granted the Company until October 30,
2023, to regain compliance with the Nasdaq Capital Market
Minimum Bid Price Requirement for continued listing. To regain
compliance with the Minimum Bid Price Requirement, the closing bid
of the Company's ordinary shares needed to be at least
$1.00 for a minimum of 10 consecutive
business days.
The Notification Letter confirmed that the Company evidenced a
closing bid price at or greater than the $1.00 per ordinary share minimum requirement for
the last 10 consecutive business days from May 26, 2023 to June 9,
2023 and that the Company has regained compliance with the
Nasdaq Capital Market Minimum Bid Price Requirement.
About Compugen
Compugen is a clinical-stage
therapeutic discovery and development company utilizing its broadly
applicable predictive computational discovery capabilities to
identify new drug targets and biological pathways for developing
cancer immunotherapies. Compugen has developed two proprietary
product candidates: COM701, a potential first-in-class anti-PVRIG
antibody and COM902, a potential best-in-class antibody
targeting TIGIT for the treatment of solid tumors. Compugen also
has a clinical stage partnered program, rilvegostomig (previously
AZD2936), a PD-1/TIGIT bi-specific derived from COM902, in Phase 2
development by AstraZeneca through a license agreement for the
development of bi-specific and multi-specific antibodies. In
addition, the Company's therapeutic pipeline of
early-stage immuno-oncology programs consists of programs
aiming to address various mechanisms of immune resistance. The most
advanced program, COM503 is in IND enabling studies. COM503 is
a potential first-in-class, high affinity antibody which blocks the
interaction between IL-18 binding protein and IL-18, thereby
freeing natural IL-18 to inhibit cancer growth in the tumor
microenvironment. Compugen is headquartered in Israel, with offices in San Francisco, CA. Compugen's shares
are listed on Nasdaq and the Tel Aviv Stock Exchange under the
ticker symbol CGEN.
Company contact:
Yvonne
Naughton, Ph.D.
Head of Investor Relations and Corporate Communications
Email: ir@cgen.com
Tel: +1 (628) 241-0071
View original
content:https://www.prnewswire.com/news-releases/compugen-regains-compliance-with-nasdaq-minimum-bid-price-requirement-301849354.html
SOURCE Compugen Ltd.
