(CGEN) Compugen Ltd. BCG Matrix Research |
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This Compugen Ltd. BCG Matrix helps you see how the company’s products or business units are positioned across Stars, Cash Cows, Question Marks, and Dogs. The page already shows a real preview of the actual analysis, so you can review the format and content before buying. Purchase the full version to get the complete ready-to-use report.
Stars
AZD2936 Phase I/II
AZD2936 is Compugen Ltd.'s most advanced disclosed asset and its clearest Stars in the BCG Matrix. It is in Phase I/II for advanced or metastatic non-small cell lung cancer, a market that remains one of oncology's largest, with about 2.5 million new lung cancer cases worldwide in 2022. That stage makes AZD2936 the nearest-term pipeline value driver.
COM701 Phase I
COM701 is Compugen Ltd.'s anti-PVRIG antibody in Phase I for solid tumors, and it is also being tested with Bristol-Myers Squibb’s Opdivo. This gives the program the clearest clinical readout among Compugen Ltd.'s early assets, which is why it sits in the Stars quadrant of the BCG Matrix. In early oncology, a combo with an approved checkpoint drug can matter more than size of the first dataset.
COM902 Phase I
COM902 is a Phase I anti-TIGIT antibody for monotherapy in advanced malignancies, so it sits in the Stars bucket because it still has clear growth optionality. TIGIT remains a top immuno-oncology target, with a large share of late-stage partnering and trial activity across the sector. That keeps COM902’s upside tied to a market where even small clinical wins can re-rate value fast.
Bapotulimab Phase I
Bapotulimab is Compugen Ltd.'s ILDR2-targeted Phase I asset for solid tumors, so it broadens the checkpoint pipeline beyond the company’s better-known axis programs. In BCG terms, it fits the Stars bucket: early-stage, high-upside, and still needing clinical proof before it can become a larger value driver.
- Phase I, solid tumors
- Targets ILDR2
- Adds target diversity
- Core growth bet
Myeloid IO platform
Compugen’s Myeloid IO platform fits the Stars bucket: it targets an early immuno-oncology field with real upside. Myeloid biology is still expanding, with myeloid-derived suppressor cells and tumor-associated macrophages often making up a large share of the tumor microenvironment, so the platform matters before any product sales.
That early-stage focus aligns with Compugen’s stated push into myeloid targets and can create option value if the science keeps working. In a market where many I/O assets fail late, a platform aimed at new mechanisms can still be strategically strong even with no near-term revenue.
- Early-stage, high-upside I/O focus
- Myeloid targets remain underexplored
- Strategic value can predate sales
Compugen’s High-Upside Phase I/II Stars Could Drive Re-Rating
Compugen Ltd.’s Stars are its highest-upside clinical bets: AZD2936, COM701, COM902, and bapotulimab. They are all in Phase I/II, with AZD2936 in advanced or metastatic non-small cell lung cancer, a market tied to about 2.5 million new lung cancer cases worldwide in 2022, so each asset still has material re-rating potential.
| Asset | Stage | BCG fit |
|---|---|---|
| AZD2936 | Phase I/II | Top Star |
| COM701 | Phase I | Star |
| COM902 | Phase I | Star |
| Bapotulimab | Phase I | Star |
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Cash Cows
Bayer Pharma AG collaboration
Bayer Pharma AG collaboration is one of Compugen Ltd.’s key alliances, tied to antibody-based therapeutics research, development, and commercialization. In BCG terms, it acts like a Cash Cow because it can keep bringing in recurring R&D funding and milestone cash with low capital burn. Compugen’s 2025 filings do not split out this revenue line, but the partnership remains one of its most stable support streams.
Bristol-Myers Squibb collaboration
Bristol-Myers Squibb’s Opdivo collaboration tests COM701 in advanced solid tumors, and that external backing from a top oncology player is a strong validation signal. Opdivo already has 50+ approved indications worldwide, so the tie-up gives Compugen Ltd. access to a drug with broad clinical reach. For a clinical-stage Company, that kind of partner support can cut development risk and help fund the program.
AstraZeneca licensing agreement
Compugen Ltd.'s AstraZeneca licensing agreement centers on bi-specific and multi-specific immuno-oncology antibodies, a more mature model than early discovery. Public disclosures said the deal included up to $200 million in milestones, plus royalties, giving Compugen non-dilutive cash creation. That kind of licensing can fund R&D without equity dilution, which fits a Cash Cows profile.
Johns Hopkins School of Medicine collaboration
Compugen Ltd.’s Johns Hopkins School of Medicine collaboration fits the Cash Cows box because it targets novel T cell and myeloid checkpoint biology while lowering discovery spend through academic shared research. Academic deals like this can widen scientific reach without heavy CapEx, so they help fund the pipeline as internal assets mature.
With Compugen Ltd.’s 2025 revenue still below scale and R&D spending remaining the main cash use, this kind of partnership can be a steady support layer rather than a drag on liquidity.
- Shared discovery lowers target-validation cost
- Expands reach into checkpoint science
- Supports pipeline while cash burn stays contained
Johns Hopkins University myeloid science
Johns Hopkins University myeloid science is a separate collaboration focused on exploratory biology, so it fits Compugen Ltd. as a Cash Cow-style support asset rather than a direct spend drag. It broadens access to deep myeloid expertise and can feed higher-value pipeline work without heavy internal build-out.
- Dedicated to myeloid science
- Expands exploratory biology access
- Supports partner-backed innovation
- Reduces pure internal spend burden
Compugen’s Alliances Fuel Cash Flow and Cut R&D Burn
Compugen Ltd.’s Cash Cows are its partner-backed alliances: Bayer Pharma AG, Bristol-Myers Squibb, AstraZeneca, and Johns Hopkins. In 2025, these deals helped offset R&D burn by bringing in milestone-linked, non-dilutive support while the Company kept revenue below scale.
| Asset | Cash Cow signal |
|---|---|
| 2025 alliances | Milestones, royalties |
| R&D impact | Lower cash burn |
| Strategic role | Support pipeline |
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Dogs
No approved products
Compugen Ltd. is still clinical-stage, so it has no approved products or marketed brands to support a Dogs bucket. In BCG terms, there is no mature cash cow to milk, and the pipeline remains tied to R&D spend, not product sales. That matters because the company still reported net losses, with 2023 revenue of $5.4 million versus $44.7 million in research and development expense.
No product sales
Compugen Ltd. has no disclosed product sales base in its latest reported results, so there is no measurable market share to support a BCG "Dog" classification. The Company’s revenue came from collaboration and milestone income, not product sales, so the unit is not a low-growth, high-share business. In its latest annual filings, Compugen reported $0 in product sales.
No marketed brands
Compugen Ltd.’s Dogs bucket is clear: 0 marketed brands. Its named assets are investigational only, and none is described as sold in any market, so the commercial portfolio is effectively empty.
That leaves no product revenue base to support the BCG “cash cow” profile; value depends on clinical progress, not sales. In practice, this is a pure R&D stage mix with 100% pipeline risk.
No mature cash generator
Compugen Ltd. has no mature cash generator in its Dogs bucket because it does not have an approved, revenue-producing drug franchise. Its business is still clinical-stage, so cash is tied up in trials, R&D, and pipeline development rather than steady product sales. So this segment remains a cash user, not a cash cow.
- No marketed drug revenue
- Clinical trials still burn cash
- R&D spend outweighs income
No high-share franchise
Compugen Ltd. has no dominant share in any therapeutic class; it is still a clinical-stage biotech competing for proof-of-concept, not a mature franchise. In its 2025 filings, Company Name still had no approved product revenue, so this is far from a dog-to-cash-cow profile.
- No high-share franchise
- Still in clinical validation
- No approved product revenue
Compugen’s “Dogs” Bucket Is Empty: No Product Sales, Just R&D Spend
Compugen Ltd. has no true Dogs asset because it reported no approved, product-based revenue in its latest 2025 filings. The portfolio is still clinical-stage, so the bucket is a cash user, not a cash cow, with 2023 revenue of $5.4 million versus $44.7 million in R&D.
| Metric | Value |
|---|---|
| Product sales | 0 |
| R&D expense | $44.7 million |
| Revenue | $5.4 million |
Question Marks
Early-stage myeloid targets
Compugen’s early-stage myeloid targets fit Question Mark territory: they sit in a fast-moving immuno-oncology field, but clinical proof is still thin. The company reported no approved revenue from these programs, while R&D remains the main cash use, with annual spending near the mid-$20 millions in recent filings. That mix means high upside, but also high failure risk.
Novel T cell checkpoint targets
Compugen Ltd.'s Johns Hopkins collaboration on novel T cell checkpoint targets fits a Question Mark: the science is promising, but the assets are still preclinical or early-stage and not clinically validated. These programs need more investment to prove response rates, safety, and whether they can win share against larger immuno-oncology players. In BCG terms, high potential, low proof, and capital hungry.
Novel immune checkpoint regulators
Compugen Ltd.’s novel immune checkpoint regulators sit in the Question Marks box: the Bayer collaboration gives them high oncology upside, but commercial share is still effectively 0 because there are no product sales yet. In 2025/2026, this is still a development-stage asset class, so value depends on clinical proof, not current revenue. One win can move them toward a Star; a miss keeps them a cash-burn bet.
Bi-specific and multi-specific IO antibodies
Compugen Ltd.’s bi-specific and multi-specific IO antibodies sit in a Question Mark spot: the AstraZeneca license gives real validation, but the field is still early and crowded. Bi-specific antibody trials in oncology have expanded fast, with more than 100 clinical-stage programs globally by 2025, so differentiation is still unproven. The upside is real, but market share is not yet secured.
- Early-stage, high-upside IO modality
- AstraZeneca deal supports platform credibility
- Competition is intense and still rising
- Commercial position remains unproven
Preclinical discovery pipeline
Compugen Ltd’s preclinical discovery pipeline is a classic Question Mark: it feeds new candidates into the engine, but none has yet cleared large-scale clinical proof. In FY2025, this unit still sat at 0 approved products, so its value hinges on whether the next 1-2 lead assets can convert from early science into human data.
This is the part of the portfolio with the highest upside and the highest failure rate. If one candidate shows clean proof-of-concept, it can move toward Star status; if trials miss, it drops toward Dog. The key check is whether Compugen can turn research spend into measurable clinical milestones, not just more ideas.
- High growth, unproven assets
- 0 approved products today
- Success depends on trial readouts
Compugen’s Early-Stage Bets Burn Cash, But Could Still Pay Off
Compugen Ltd.’s Question Marks are still early, cash-burning assets with no approved product revenue in FY2025. R&D stayed the main spend, near $26 million, while value depends on whether preclinical and early clinical IO programs turn into human proof. The upside is real, but share is still unproven.
| Metric | FY2025/2026 |
|---|---|
| Approved revenue | 0 |
| R&D spend | ~$26M |
| Stage | Preclinical to early clinical |
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