Compugen also relies on its earlier PPI Blockers discovery platform to conduct molecular analysis of antibody-antigen interactions.
In 2012, the company established a presence in California to develop oncology and immunologic monoclonal antibody therapeutic candidates.
The company also has an affiliate, Evogene, that develops products for agricultural biotechnology.
Bayer has a small but growing cancer franchise. Last year the company received approval in the U.S. for Stivarga, for which it has partnered with Onyx Pharmaceuticals (ONXX). The drug is an oral multikinase inhibitor to treat metastatic colorectal cancer.The approval builds on the Bayer/Onyx franchise in Nexavar, approved first in the U.S. in 2005. It is indicated for primary kidney cancer and advanced primary liver cancer. In May, Bayer gained FDA approval to use Xofigo for treatment-resistant prostate cancer and associated bone metastases. Algeta ASA is its partner on Xofigo. Compugen trades on Nasdaq under the ticker CGEN. Its stock closed up Monday 44.5% on the news at $7.89 per share. -- Written by Pamela Taulbee in New York
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV