Compugen spikes 180% on $848M deal with Gilead for anti-tumor drug

Cancer immunotherapy company, Compugen’s shares are up 180% or $1.30 per share to $195, after earlier news on Tuesday, that Gilead Sciences (GILD) announced an agreement with Compugen (CGEN) ), a clinical-stage cancer immunotherapy company and a pioneer in computational target discovery, headquartered in Holon, Israel, to exclusively license its potential first-in-class, pre-clinical antibody program against IL-18 binding protein, including the COM503 drug candidate… Also annouced earlier: Compugen announced it will be eligible to receive a milestone payment of $10M from AstraZeneca (AZN), when the first patient is dosed in AstraZeneca’s ARTEMIDE-Bil01 trial with rilvegostomig. Rilvegostomig is a PD-1/TIGIT bispecific antibody where the TIGIT component is derived from Compugen’s clinical-stage anti-TIGIT antibody, COM902.