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Compugen down 11% premarket on return of rights to oncology candidate by Bayer

Published 07/26/2017, 09:04 AM
© Reuters.  Compugen down 11% premarket on return of rights to oncology candidate by Bayer
CGEN
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  • Thinly traded micro cap Compugen (NASDAQ:CGEN) slumps 11% premarket on increased volume in response to its announcement that collaboration partner Bayer (OTCPK:BAYRY) will return the rights to one of two immune checkpoint regulators, CGEN-15022, after a joint assessment determined that it lacked sufficient potential to justify further investment.
  • Bayer will continue to advance the other candidate, CGEN-15001T, toward clinical trials.
  • Previously: Compugen signs development deal with Bayer; shares soar (Aug. 5, 2013)
  • Now read: Intangible Assets Are The Leading Source Of Moats


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