Z, I don't disagree. Everything seems to be taking to long. I don't really care who goes and presents at these investor conferences but I am still bothered by the lackluster group of investor houses that follow us and the dearth of funds that own us. Evidently they are not convinced.
I look at it from the point of view of dollars and cents. We can not go into next year with $50 million it is not enough therefore something will happen this year. Hopefully it is something good. If not the stock will stagnate and retreat. Short term stockprice means nothing but we have been under performing lately. There are no immediate catalysts that we are aware of that will change this.
I am very excited about the scientific support we get, but most here have been patient enough. It's time something happens.
Z, thanks for that. Nothing really new but just looks more professional with nice flow. Doesn't seem like something Ari would give then again I noticed that Anat also speaking at a different venue next week.IATI Biomed 2016. Wonder why they make an announcement for Ari but not Anat? Interesting folks speaking I thought at the Conference Anat speaking at.
The lead article in Globes is the indictment of our ex CFO Dikla's husband and sister on insider trading. The article is in Globes the Israeli financial paper.
Dikla was not indicted, if my calculations are right the amount of money made was about $5k US. So the effect on the stock price was minimal and hopefully this affair will go away. I had met Dikla and liked her very much. The article mentioned it was her ex husband they had just had a baby when this occurred so she has suffered enough both personally and professionally.
Since the article was in the public domain I felt I should mention it, to me the whole affair is now over.
I believe the issue is that Prof Pardoll is a member of the US Board of Directors not the Full Company's Board of Directors. There is a difference it used to be we had a chairwoman of the US Board named Frendsho or something like that. I don't know if she is still part of the team. You may remember she came on board when Dr. Hunter did to some fanfare by the company. Having Pardoll, Holtzman and Sigal is quite a step up from that.
PS to SBH, our issue may be one of semantics don't want to waste everyones time but I expect a deal on either our immunotheropy or ADC program this year. JMO.
SBH, let me add to your comments.
First what a bummer of a day, I thought the call was pretty good but seems like some disagree.
OK back to the subject, as you rightly indicate our cap is about the same, though in addition to what you high light there is a much more extensive portfolio a world class SAB and some hotshot support so what gives. It is your statement
"Certainly the odds favor significant commercial news by the end of 2017."
Are we now pushing this out to 2017? If that's the case there is no rush to buy the stock and I would say sell in May and run away. I always feel that you are closer to the action then me so I hope that is an error.
Let's do the math they have 80 mil subtract the 24 mil for balance of 16 you get 56 mil. In 2017 we expect 15029 to go into clinicals we would also expect that other programs like 15052 or the microphage crop will be needing greater expenditure after all we are not a one hit shop. Therefore I would expect we would need at least $40 mil for 2017 could be more. You can't run the ship with that amount, an infusion of cash will be needed.
Where are we going to get the funds?
A secondary? How about I just kill myself now?
Bayer? well if they take 15001 into clinicals we will get some sort of milestone payment, could be enough to meaningfully make a dent. Tough to say, I had thought we might get some funds through the progress of 15022 but that $400k first milestone did not give confidence.
Do some deal in 2016, I don't understand why we have not done one yet but believe something will happen in 2016. If not we will be looked at as another secondary happy discovery company and that does not raise the stock price.
So SBH my friend did you misspeak?
Buy a new computer, had no trouble.
I thought the person who expressed their point on press releases over did it. he made his point move on.
There will be no secondary at this stage, there will be a deal before it is necessary and it wont be for $20 mil.
Did you catch the questioner regarding Bayer, that at the Bayer meeting in off line discussion they hope to go IND this year or early next year. At least that is what I thought I heard.
I think you are jumping the gun a bit no doubt these were amazing results using car t technology but the study was small and the durability not determined also if I am not mistaken as of yet car t has shown no effect on solid tumors yet. We have a long way to go. Many drugs have shown great results in early stage testing only to find it did not hold. Cancer not cured just yet.
Regarding Neviah the first test was a beta test, the results indicated that the company should continue, we don't know enough about the test guidelines and expectations to know just how successful they were. Regarding evogene, they are partnered with almost all the major agri companies. Unfortunately it takes longer for genetic agri tests then it takes for human tests, so we are not seeing revenues yet.
Personally I think CGEN may be becoming more valuable each day as our programs move along.
Of course having said that I get as frustrated as anyone that we are not moving fast enough and we are not getting commercial conformation. Let's hope Mssrs Pardol and Sigal can fix that.
For those who aren't doing sheep's math that equates to a $50-100 price target. If 15029 is the real deal that's where we could be in 2 to 3 years. Let's see what our brain trust can do for us.
Sheep, thought you and Gooner had some interesting points on valuation. I am of the camp that we are a phase 2 study on 15029 away from getting a hefty valuation. We will see. To your point on valuations of private companies take a look at AbbVie's acquisition of Stemcentrix. Company's paying big prices these days, it would be nice if we were part of the action already. Ever hopeful but can get very discouraging. Lately our volume very light as we just move with indexes.
Steve, if I were a betting I would believe that this quarters discussion theme will be 15029 calendar. I hope the plan is to be in clinicals in first half of 17.
Don't know if this has any value but seems to me Bayer would like this partnership to succeed.
I just skimmed the Bayer transcript on seekingalpha from their latest quarterly release. If you go about half way through look for a question from Peter Verdult, I will paraphrase that he asks about Bayer's weakness in immunoncolgy
The answer was given by Deiter Weinand
'"Yes. So we have been focusing more on the small molecule side than immuno-oncology. And we did not participate in the first way of the immuno-oncology product development that we saw in the industry. But we have initiated business collaborations with Compugen and the German Cancer Research Center. We are focusing specifically in immuno-oncology with phyte [ph] antibody and prostate cancer in the Phase I in clinical trials.
With the Compugen collaboration, we are focusing on a couple of products as well, so I think that is the next wave that will come in immuno-oncology. Overall, in the oncology pipeline, we have ODM-201 in development in Phase III for non-metastatic castrate-resistant prostate cancer. You are aware of Copanlisib, we are in Phase II with anetumab, so I think we have a focused efforts in certain areas such as the radiotherapeutic platform with Xofigo, as well as with the thorium platform, and we are making our first trials into the second wave of the immuno-oncology portfolio.
Noticed that the article I referred to is now posted on cgen website under events.
Maybe another interesting point for some, we often talk about Pardoll and Drake the two members of our SAB from Johns Hopkins but I noticed that another one of our advisers has been in the news lately, Anthony Ribas. He was instrumental in a recent study Medscape Medical News Oncology
Downside to Melanoma Immunotherapy: 55% to 67% Nonresponders
April 20, 2016
It is work done on Keytruda, Mercks immuno program. Admittedly far above me. However I could understand Dr. Ribas' affiliations below. Several of the companies he owns shares in are still not public I think after Kite we are biggest.
The KEYNOTE-001 study was funded by Merck & Co. Dr Ribas reports ownership of stock in Acteris, Arcus, CytomX, Compugen, FLXBio, and Kite Pharma, and serving as a consultant for Merck & Co., Amgen, GlaxoSmithKline, Genentech, Novartis, Roche, and Pfizer, with honoraria paid to UCLA. Dr Thompson reports that his institution receives a grant from Merck.
John I hope you are reading this because if you go to Kite and look at their news you will see the following article on April 18.
Kite Pharma Commends Scientific Advisory Board Members on Awards Received from the American Association of Cancer Research (AACR)GlobeNewswire(Mon, Apr 18). One of the two folks commended is Anthony Ribas. So if you have a well oiled and healed public relations you can do these kinds of announcements. I just thought interesting not commenting on value.
Anyway, we certainly have some very well connected people looking out for us, I suspect this will lead to something fairly soon.
Goon, when your looking at deals for comparison you may want to take a peak at recent Gilead deal with Galapagos. Your point about human trials is correct and this one a phase two drug so of course Gild would pay up but this drug a bit of a checkered past with abbie giving back. Dollars are pretty big, could we get a third???, 20%??? 10%???
True, but up to now the days that followed the biotech indexes went down and we went up. So that we are not getting the buying we want selling isn't happening. Who knows what will happen today but so far that is the pattern. Until a deal or clinical information hard to really push this even if expectations improving materially.
I believe you are correct we have not seen the Myeloid slides before which would make me think that with in a few months Compugen will come out with an announced named program in this area. How far away we are from getting a program like this into the clinic will be a key question.
Rpthom21, tried to read your suggested article which went way beyond my abilities except to say that there is a long long way to go in the immunotheoropy space. Even those that have been approved often come with severe side effects and the industry leaders may very well shift as time goes on. But progress is being made very quickly, anticipate we will be part of that progress. Pardoll said it would be two to three years before other checkpoints would be recognized, so about a year has gone by since he said that and in 2017 we anticipate getting 15029 into the clinic, there is the two years.
Good luck to all,
I began doing something last week that I promised myself I would not do and that is purchasing more shares of stock. I decided to do this once I realized that Pardoll and Johns Hopkins would be involved in the moon shot effort, I continued to purchase when the announcement was made about Pardoll and Sigal. Anything can happen in the stock market or with a company but I believe the odds at this time are very much on my side for success.
Pardoll didn't just associate with us to pad his resume or as a favor, he knows us. He knows us as head of our SAB and more importantly through the research Johns Hopkins has done with us over the past year. With all the demands of his new responsibilities he wanted to be involved with us. I believe as others have stated it shows a lot.
Regarding Sigal, I want to thank RPTHOM21 for leading me to that interview. Bristols, string of pearls policy (which he led) is tailor made for us. It is all about large pharma partnering with small biotech's, he can guide us to get these deals done. Also he was involved in Bristol's purchase of Medarex which was the first of the immuno oncology companies. Medarex was sold for $2.5 billion while in phase 3 in an industry no one knew about. Now that immuno oncology is all the rage the prices should be considerably higher.
For me to be successful on this trade at this price I just need one deal, with these two guys on my team it will happen maybe next week or next six months or a bit longer but it will happen.
As I said there are no guarantees this is still a risky investment but when I look at the risk reward I think the odds are very much on my side. It amazes me that the professional investment class has not picked up on this yet, but I understand it, even as I write this I ask myself can cgen ever get a deal done. Well if on occasion I lose faith in the commercial abilities of our management I have to believe they made an excellent decision in getting these guys involved. Good luck to all.
This is huge for us, we know Pardoll but Sigal too!! is great. Please look at a recent discussion we had regarding a deal between Novartis and Surface technologies. It was discussed on this board, you will see Sigal's involvement. Early stage immunotheropy company just like us. On second thought they are not just like us because I believe we have more, much more. Its a long wait but it will work out.
I apologize but I am going to beat a dead horse here. On the Bloomberg news website the following article appeared
Curing Cancer Is Within Reach
MARCH 30, 2016 7:00 AM EST
' ""Michael R. Bloomberg & Joe Biden'"'
The article is similar to the one I posted but there was a paragraph in the article that caught my eye and just adds currency to the connection to Drew Pardoll as SBH pointed out. At some point the fact that Dr. Pardoll heads our SAB has to help. So below is a part of the article.
To that end, and in support of the cancer moonshot, we are thrilled that Johns Hopkins University will create the Bloomberg-Kimmel Institute for Cancer Immunotherapy, thanks to private grants of $125 million. This new institute will build on the school’s groundbreaking work in immunotherapy, one of the most promising avenues of research today.
Here’s why: Cancer involves the uncontrolled growth of our cells. Cancer cells co-opt the processes of normal cells, using them to grow, spread and cloak themselves from detection by the immune system. Immunotherapy seeks to redirect patients’ highly individual immune systems to better detect and destroy cancer cells.
Led by Dr. Drew Pardoll and funded in partnership with the philanthropist Sidney Kimmel, the institute will support the same scientists who performed some of the first clinical trials of immunotherapy agents known as checkpoint blockade inhibitors. These agents interfere with molecules that shield tumor cells from the body’s immune system.
Sorry if many feel I am just repeating but at some point something has got to happen.
part 2 of article
Hopkins president Ronald Daniels said the institute will allow Hopkins scientists to "dream big." Yet he also acknowledged that the war on cancer has been rife with disappointments and that scientists have a long way to go in unraveling all the mysteries surrounding immune therapy, including why it succeeds in only a minority of patients.
“There’s proof of concept here," Daniels said. "We have these truly extraordinary results in a group of patients that are so-called responders. But there are still question marks about the patients who are not responding.”
Scientists have studied immunotherapy for decades but had trouble making it work; the immune system seemed unable to see the cancer as foreign or inexplicably refrained from attacking malignancies.
In recent years, though, discoveries have led to a new class of drugs called checkpoint inhibitors, which have mobilized the immune system to see and go after cancer. Former president Jimmy Carter, who was diagnosed last year with melanoma that had spread to his brain, announced earlier this month that the double whammy of an immune therapy drug plus radiation was so successful that he was stopping treatment.
In the US there is a concerted effort to cure cancer, in today's Washington Post and I am sure other places as well there is large effort just announced with funding going to Johns Hopkins, on the surface I would think this is a good thing but the stock either not reacting that way or not at all or the whole thing means nothing. But it is worth a glance because of our tie in with Johns Hopkins and some of their top researchers. Below
Research into immunotherapy, which cancer experts are calling the most promising approach in decades, will get a big boost Tuesday when Michael Bloomberg and other philanthropists announce $125 million in donations to Johns Hopkins University for a new institute focused solely on the therapy and accelerated breakthroughs for patients.
Michael Bloomberg, the businessman, philanthropist and former New York mayor, will donate $50 million, as will Sidney Kimmel, a philanthropist and founder of Jones Apparel Group. The institute, to be housed at the Sidney Kimmel Comprehensive Cancer Center, will draw on experts in cancer, immunology, genetics, microbiology and biomedical engineering to pursue advances, Hopkins officials said.
Immune therapy aims to harness a patient's own immune system to seek out and attack cancer. And while there’s “no magic bullet” to defeat the disease, Bloomberg said in an interview that the therapy “seems to have enormous potential. ... This really may have the possibility for a unique Eureka moment.”
[He won his own battle against cancer. Biden just picked him to lead a war]
He expects the contributions will provide momentum to the Obama administration's cancer "moonshot" initiative, which Vice President Biden is heading. "If some people are willing to put in their own money, it will make it more credible," Bloomberg said. President Obama announced the administration effort in January and proposed spending $1 billion on it, but Congress hasn’t approved the bulk of the money.
Hopkins president Ronald Daniels