Compugen Expects Its Cash And Cash-related Balances Of $101.3M Together With A $30M Milestone Payment On COM503 IND Clearance Expected In 2024, Is Expected To Provide Cash Runway Into 2027
Portfolio Pulse from Benzinga Newsdesk
Compugen expects its cash and cash-related balances of $101.3M, along with a $30M milestone payment on COM503 IND clearance expected in 2024, to provide a cash runway into 2027.
May 20, 2024 | 11:05 am
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Compugen's financial outlook is bolstered by its current cash reserves of $101.3M and an expected $30M milestone payment in 2024, providing a cash runway into 2027.
The news indicates a strong financial position for Compugen, with sufficient cash reserves and an anticipated milestone payment that extends its cash runway into 2027. This positive financial outlook is likely to boost investor confidence and support the stock price in the short term.
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