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TheStreet Open House

Compugen's CEO Discusses Q2 2012 Results - Earnings Call Transcript

After my introductory remarks, Mary will report on the progress to-date and expectations we have with respect to our monoclonal antibody operations, followed by Anat, who will provide a status update with respect to the two product candidate arms of our pipeline program. The call will then be opened for any questions you might have. In the interest of time, in sense there is nothing unexpected in our financial results for the quarter other than the effect of both non-cash income and non-cash expenses, we will not address these results in our prepared remarks, but please feel free to raise any questions you may have regarding them in the Q&A session.

This is a very exciting time for us at Compugen, after committing more than a decade to the creation of a truly unique predictive biology discovery capability and then in the last two years focusing this capability on therapeutic monoclonal antibodies and therapeutic proteins for use in oncology and immunology. We are now clearly demonstrating in a number of ways to potential value of the capability we have created. First, our B7/CD28-like molecule program which was our initial focus discovery efforts was extremely successful with the identification of a significant percentage of new B7/CD28 family members compared to the total number previously reported worldwide, results which far exceeded even our own expectations.

This is a truly a remarkable achievement when you consider the high level of interest and likely orders of magnitude greater efforts undertaken during the past decade by others in both academia and industry utilizing various discovery methodologies in order to identify the previously known members. Secondly, likely based on the success of our B7/CD28-like discovery efforts, we have today a therapeutic pipeline program consisting of approximately 30 product candidates at various stages of validation and pre-clinical development in our areas of focus.

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