Investors Update: Compugen Ltd. (NASDAQ:CGEN)

Compugen Ltd. (NASDAQ:CGEN) spotted trading -19.72% off 52-week high price. On the other end, the stock has been noted 73.00% away from the low price over the last 52-weeks. The stock changed 1.47% to recent value of $3.46. The stock transacted 44106 shares during most recent day however it has an average volume of 167.03K shares. The company has 60.36M of outstanding shares and 57.48M shares were floated in the market.  

Compugen Ltd. (NASDAQ:CGEN) announced financial results for the first quarter ended March 31, 2019.

Financial Results

Revenues for the first quarter of 2019 were $0, compared with $10 million in the comparable period of 2018. The revenues for the first quarter of 2018 reflect the upfront payment of $10 million from the license agreement with MedImmune/AstraZeneca.

R&D expenses for the first quarter ended March 31, 2019 were $6.3 million, compared with $7.1 million for the comparable period in 2018. The decrease in R&D expenses is attributed to the cost reduction measures announced by the Company during the first quarter of 2019. Further reduction in expenses will be reflected over the course of 2019.

Net loss for the first quarter of 2019 was $8.4 million, or $0.14 per basic and diluted share, compared with a net income of $0.1 million, or $0.0 per basic and diluted share, in the comparable period of 2018.

As of March 31, 2019, cash, cash related accounts, short-term and long-term bank deposits totaled $38.2 million, compared with $45.7 million at December 31, 2018. During the three months ended March 31, 2019, the Company sold approximately 961,000 ordinary shares under its “at-the-market” (ATM) facility pursuant to a sales agreement entered into with Cantor Fitzgerald & Co. in May 2018 for aggregate proceeds of $3.4 million, net of commissions to Cantor and expenses related to the offering. The Company has no debt.

 Its earnings per share (EPS) expected to touch remained 43.50% for this year. CGEN has a gross margin of 94.20%. 

 According to the most recent quarter its current ratio was 4.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -0.79% from the mean of 20 days, -6.09% from mean of 50 days SMA and performed 1.11% from mean of 200 days price. Company’s performance for the week was -3.35%, 5.17% for month and YTD performance remained 59.45%.

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