HOLON, Israel, Dec. 20, 2019 /PRNewswire/ -- Compugen Ltd. (Nasdaq: CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, today announced that it has been selected for addition to the NASDAQ Biotechnology Index® (NASDAQ: ^NBI). Compugen's addition to the NBI will become effective prior to market open on Monday, December 23, 2019.
The NASDAQ Biotechnology Index was launched in 1993 and is designed to track the performance of a set of securities listed on the NASDAQ Stock Market® (NASDAQ) that are classified as either Biotechnology or Pharmaceuticals according to the Industry Classification Benchmark. Companies in the NBI must meet eligibility criteria, such as an average daily trading volume and minimum market capitalization. The NBI is re-ranked each year and is calculated under a modulated capitalization-weighted methodology. Additionally, the NBI serves as the basis for the Blackrock iShares Nasdaq Biotechnology ETF (Nasdaq: IBB), the largest ETF that tracks this index directly. For more information about the NASDAQ Biotechnology Index, including eligibility criteria, please visit https://indexes.nasdaqomx.com/Index/Overview/NBI.
To view the NBI and its historical data, please visit https://www.nasdaq.com/market-activity/index/nbi.
Compugen is a clinical-stage therapeutic discovery and development company utilizing its broadly applicable, predictive computational discovery platforms to identify novel drug targets and develop first-in-class therapeutics in the field of cancer immunotherapy. The Company's therapeutic pipeline consists of immuno-oncology programs against novel drug targets it has discovered computationally, including T cell immune checkpoints and additional early-stage immune-oncology programs focused largely on myeloid targets. Compugen's business model is to selectively enter into collaborations for its novel targets and related drug product candidates at various stages of research and development. The Company is headquartered in Israel, with facilities in South San Francisco, CA. Compugen's shares are listed on Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN. For additional information, please visit Compugen's corporate website at www.cgen.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of terminology such as "will," "may," "expects," "anticipates," "believes," "potential," "plan," "goal," "estimate," "likely," "should," "confident," and "intends," and describe opinions about possible future events including the addition of Compugen to the NASDAQ Biotechnology Index® (NASDAQ: ^NBI). These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Compugen to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Among these risks: Compugen's business model is substantially dependent on entering into collaboration agreements with third parties and Compugen may not be successful in generating adequate revenues or commercializing aspects of its business model. Moreover, the development and commercialization of therapeutic candidates involve many inherent risks, including failure to progress to clinical trials or, if they progress to or enter clinical trials, failure to advance through clinical development or receive regulatory approval. These and other factors, including the ability to finance the Company, are more fully discussed in the "Risk Factors" section of Compugen's most recent Annual Report on Form 20-F as filed with the Securities and Exchange Commission (SEC) as well as other documents that may be subsequently filed by Compugen from time to time with the SEC. In addition, any forward-looking statements represent Compugen's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Compugen does not assume any obligation to update any forward-looking statements unless required by law.
Director, Investor Relations and Corporate Communications
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Investor Relations contact:
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SOURCE Compugen Ltd.