Compugen Falls 17% on Employee Cuts Announcement
The Nasdaq-listed cancer immunotherapy company published its fourth quarter and full year results for 2018 Tuesday
Lilach Baumer | 08:26 27.02.2019
Nasdaq-listed cancer immunotherapy company Compugen Ltd. closed 17.02% down Tuesday after publishing its fourth quarter and full year results for 2018 and announcing its intention to cut 35% of employees (35 people), mostly in research and development.
For daily updates, subscribe to our newsletter by clicking here.Israel-based Compugen reported revenues of $17.8 million for 2018, compared to none in 2017—a result of partnerships with AstraZeneca PLC and Bayer AG. Net loss for the year was $22.6 million, or $0.41 per diluted share, compared to a net loss of $37.1 million, or $0.72 per diluted share, in 2017.