Compugen shares surge 11.41% premarket after monetizing rilvegostomig royalties with AstraZeneca for $65M upfront and potential $25M milestone.

Compugen surged 11.41% in premarket trading following a strategic non-dilutive transaction with AstraZeneca to monetize a portion of its rilvegostomig royalties. The deal includes a $65 million upfront payment and a potential $25 million milestone payment tied to Biologics License Application acceptance, extending Compugen’s cash runway to 2029. The company retains majority future royalties and remains eligible for tiered royalties and up to $195 million in regulatory/commercial milestones. This transaction strengthens Compugen’s financial position without diluting existing shareholders, while advancing its immuno-oncology pipeline. The move aligns with CEO Eran Ophir’s strategy to optimize capital structure and underscores investor confidence in rilvegostomig’s potential as a first-in-class dual-checkpoint bispecific therapy in 11 Phase 3 trials.