CompuGen Ltd. Files 20-F Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>CompuGen Ltd. has submitted its annual 20-F filing for the fiscal year 2023, detailing business operations, agreements, and employee stock plans.</b>

AI Summary

COMPUGEN LTD (CGEN) filed a Foreign Annual Report (20-F) with the SEC on March 5, 2024. CompuGen Ltd. filed its annual 20-F report on March 5, 2024, for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key agreements mentioned include the Research and Development Grant, Antibodies Discovery Collaboration Agreement, and May 2012 Agreement. The company's business address is 26 Harokmim Street, Building D, Holon, Israel. The report details various stock option and purchase plan activities for employees during the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking COMPUGEN LTD, this filing contains several important signals. This 20-F filing provides a comprehensive overview of CompuGen Ltd.'s financial and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess the company's performance and strategic direction. The report highlights key agreements and employee stock-related activities, offering insights into the company's collaborations and its approach to employee compensation and retention.

Risk Assessment

Risk Level: low — COMPUGEN LTD shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant new risks beyond those typically associated with a life sciences company. The data provided is historical and operational.

Analyst Insight

Review the detailed financial statements and business descriptions within the 20-F filing to understand CompuGen Ltd.'s performance and strategic initiatives for fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-05 — Filing Date (Date of submission)
• 2023-01-01 — Reporting Period Start (Fiscal year start)

Key Players & Entities

• COMPUGEN LTD (company) — Filer name
• 0001119774 (company) — Central Index Key
• 2836 (regulator) — Standard Industrial Classification
• 2023-12-31 (date) — Fiscal year end
• 2024-03-05 (date) — Filing date
• 26 HAROKMIM STREET (address) — Business address
• HOLON (location) — Business address city
• 011-972-3-765-8585 (phone) — Business phone

FAQ

Key Dates

• 2024-03-05: Filing of 20-F Report — Annual disclosure for fiscal year 2023
• 2023-12-31: Fiscal Year End — End of the reporting period

Glossary

20-F

An annual report required by the U.S. Securities and Exchange Commission (SEC) for foreign private issuers. (Provides a comprehensive overview of the company's business, financial condition, and management for the fiscal year.)

Key Financial Figures

• $1.00 — require a minimum closing bid price of $1.00 per share, which could result in our de
• $474.5 million — an accumulated deficit of approximately $474.5 million and had incurred net losses of approxim
• $18.8 million — ad incurred net losses of approximately $18.8 million in 2023, $33.7 million in 2022 and appr
• $33.7 million — of approximately $18.8 million in 2023, $33.7 million in 2022 and approximately $34.2 million
• $34.2 million — $33.7 million in 2022 and approximately $34.2 million in 2021, in large part due to the expen
• $90.7 m — 022, we received an aggregate amount of $90.7 million, including a $32.0 million equity
• $32.0 million — te amount of $90.7 million, including a $32.0 million equity investment from Bristol Myers Sq
• $51 million — the first quarter of 2024, we received $51 million as an upfront payment from Gilead (afte
• $9 million — s an upfront payment from Gilead (after $9 million tax withheld at source) and $10 million
• $10 million — $9 million tax withheld at source) and $10 million as a milestone payment from AstraZeneca
• $151.7 million — hich we have received a total amount of $151.7 million (after $9 million withholding taxes), o
• $32 million — $9 million withholding taxes), of which $32 million was the form of an equity investment. W
• $33.5 million — ty investment. We recognized revenue of $33.5 million in 2023, $7.5 million in 2022 and $6.0
• $7.5 million — nized revenue of $33.5 million in 2023, $7.5 million in 2022 and $6.0 million in 2021 from o
• $6.0 million — llion in 2023, $7.5 million in 2022 and $6.0 million in 2021 from our partnerships. There ca

Filing Documents

• zk2431047.htm (20-F) — 2397KB
• exhibit_2-1.htm (EX-2.1) — 35KB
• exhibit_4-11.htm (EX-4.11) — 627KB
• exhibit_8-1.htm (EX-8.1) — 2KB
• exhibit_12-1.htm (EX-12.1) — 7KB
• exhibit_12-2.htm (EX-12.2) — 7KB
• exhibit_13-1.htm (EX-13.1) — 4KB
• exhibit_15-1.htm (EX-15.1) — 3KB
• exhibit_97-1.htm (EX-97.1) — 30KB
• image00001.jpg (GRAPHIC) — 82KB
• image1.jpg (GRAPHIC) — 101KB
• image0.jpg (GRAPHIC) — 232KB
• 0001178913-24-000818.txt (&nbsp;) — 9678KB
• cgen-20231231_cal.xml (EX-101.CAL) — 51KB
• cgen-20231231_def.xml (EX-101.DEF) — 156KB
• cgen-20231231_lab.xml (EX-101.LAB) — 542KB
• cgen-20231231_pre.xml (EX-101.PRE) — 290KB
• cgen-20231231.xsd (EX-101.SCH) — 54KB
• zk2431047_htm.xml (XML) — 1284KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No TABLE OF CONTENTS CAUTIONARY STATEMENT REGARDING

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS PART I. ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1 ITEM 3. KEY INFORMATION 1 ITEM 4. INFORMATION ON THE COMPANY 49 ITEM 4A. UNRESOLVED STAFF COMMENTS 67 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 68 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 80 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 102 ITEM 8. FINANCIAL INFORMATION 103 ITEM 9. THE OFFER AND LISTING 104 ITEM 10. ADDITIONAL INFORMATION 104 ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 112 ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 113 PART II. ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 113 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 113 ITEM 15. CONTROLS AND PROCEDURES 113 ITEM 16. RESERVED 114 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 114 ITEM 16B CODE OF ETHICS 114 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 115 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 115 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 115 ITEM 16F. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT 115 ITEM 16G. CORPORATE GOVERNANCE 115 ITEM 16H. MINE SAFETY DISCLOSURE 116 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 116 ITEM 16J INSIDER TRADING POLICIES 116 ITEM 16K. CYBERSECURITY 116 PART III ITEM 17. FINANCIAL 117 ITEM 18. FINANCIAL 117 ITEM 19. EXHIBITS 118 (i) CERTAIN DEFINED TERMS All references in this Annual Report on Form 20-F to "Compugen," the "Company," "we," "us," "our," or similar references refer to Compugen Ltd. and our wholly owned subsidiary Compugen USA, Inc., except where the context otherwise requires or as otherw

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 20-F, or the Annual Report, includes "forward-looking 1934, as amended, or the Exchange Act, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking terminology such as "will," "may," "assume," "expect," "anticipate," "could," "project," "estimate," "possible," "potential," "believe," "suggest," and "intend," and similar expressions that are intended to identify forward-looking statements, although not all forward-looking cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause our actual results to differ materially from those projected in the forward-looking statements include, without limitation, the risk factors set forth under "Item 3. Key Information - D. Risk Factors," the information about us set forth under "Item 4. Information on the Company" and information related to our financial condition under "Item 5. Operating and Financial Review and Prospects." Any forward-looking statements represent our views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. We do not assume any obligation to update any forward-looking statements unless required by law. (iii) PART I. ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable. ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable. ITEM 3. KEY INFORMATION A. [RE

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