Compugen shares surge 12.08% premarket after monetizing rilvegostomig royalties with AstraZeneca for $65M upfront and potential $25M milestone.

Compugen surged 12.08% in premarket trading following the announcement of a non-dilutive $65 million upfront payment and a potential $25 million milestone payment from AstraZeneca in exchange for a portion of its rilvegostomig future royalties. The transaction, effective Dec. 17, 2025, strengthens Compugen’s balance sheet, extends its cash runway into 2029, and preserves majority royalty rights to rilvegostomig, a Phase 3 bispecific immunotherapy candidate. The deal underscores investor confidence in Compugen’s pipeline and its strategic partnership with AstraZeneca, which is advancing rilvegostomig across 11 Phase 3 trials. Management emphasized the transaction’s role in funding ongoing immuno-oncology development while retaining long-term upside from the asset’s commercial success.