HOLON, Israel, Jan. 8, 2024
/PRNewswire/ -- Compugen Ltd. (Nasdaq: CGEN) (TASE: CGEN) a
clinical-stage cancer immunotherapy company and a pioneer in
computational target discovery, announced today that on
January 4, 2024, 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 "Minimum Bid Price Requirement").
As announced on November 3, 2023,
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 the
Minimum Bid Price Requirement. 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 December 19, 2023 to January 3, 2024 and that the Company has regained
compliance with the 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 bispecific antibody where the TIGIT
component is derived from Compugen's clinical stage anti-TIGIT
antibody, COM902, in Phase 3 development by AstraZeneca through a
license agreement for the development of bispecific and
multispecific 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, of which the most advanced program, in IND enabling
studies is COM503, which is licensed to Gilead.
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 in the tumor microenvironment
to inhibit cancer growth. 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
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SOURCE Compugen Ltd.
