Oct. 2 at 4:13 PM
$CGEN The reason for today's uptick:
In 2018, Compugen and AstraZeneca entered into an agreement by which Compugen provided an exclusive license to AstraZeneca to use Compugen's monospecific antibodies that bind to TIGIT, including COM902, for the development of bispecific and multispecific antibody products, excluding such bispecific and multispecific antibodies that also bind to PVRIG, PVRL2 and/or TIGIT. AstraZeneca is responsible for all research, development, and commercial activities. AstraZeneca has the right to create multiple products under this license. In addition to the
$10 million milestone payment described in this press release, Compugen has received a
$10 million upfront payment, and an additional
$15.5 million in milestone payments to date, all out of up to an aggregate milestone amount of
$200 million that the Company is eligible to receive in development, regulatory and commercial milestones for the first product, as well as tiered royalties on future product sales.
