Compugen Ltd.

Ladies and gentlemen, thank you for joining us today. Welcome to CompliGen's first quarter 2026 results conference call. At this time, all participants are in listen-only mode. An audio webcast of this call is available in the Investors section of CompliGen's website at www.cgen.com. As a reminder, today's call is being recorded. I will now hand the call over to Lindsay Trickett, Head of Investor Relations and Corporate Communications, to begin. Lindsay, please go ahead.

Thank you, Operator. Good morning and good afternoon, everyone, and welcome to Compusion's first quarter 2026 Financial Results Conference call. With us today are Dr. Aaron Ophir, President and Chief Executive Officer, and David Silberman, Chief Financial Officer. Dr. Michelle Mahler, Chief Medical Officer, will join us for the Q&A portion of the call. Before we begin, I'd like to remind you that during this call, the company may make projections or forward-looking statements regarding future events, business outlook, development efforts and their potential outcome, the company's discovery platform, anticipated progress and plans, results and timelines for our programs, including disclosure of clinical data, financial and accounting-related matters, as well as statements regarding our cash position and cash runway. We wish to caution you that such statements reflect only the company's current beliefs, expectations, and assumptions, and that actual results, performance, or achievements of the company may differ materially. These statements are subject to known and unknown risks and uncertainties, and we refer you to our SEC filings for more details on these risks, including the company's most recent annual report on Form 20F. The company undertakes no obligation to update projections and forward-looking statements in the future. With that, I'll turn the call over to Dr. Aaron LaFleur, President and CEO.

Thank you, Lindsay, and good morning and good afternoon, everyone. Before I turn to our business update, I want to take a moment to formally welcome Lindsay, our new Head of Investor Relations and Corporate Communications to CompuGem. Lindsay joined us with strong experience in investor relations, and we are thrilled to have her leading our communication with the investment community. Welcome, Lindsay, and we are glad to have you on board. Now, let's start with our business updates. 2026 is heading up to be a significant year for CompuGen, and I am pleased to share our progress in the first quarter of 2026 as we continue executing on our strategic priorities. with our fully-owned clinical program, COM701, a potential first-in-class antibody-targeting fever RG, which is an immune checkpoint with unique biology, much differentiated from other test checkpoints, including PD-1 and PIGIT. We believe this unique biology underlies the clinical activity demonstrated for COM701 in less different indications, such as ovarian cancer. As a reminder, ESMO last year represented a pooled analysis of clinical data showing that COM7-1 in monotherapy and combinations was well tolerated and showed consistent, durable responses in patients with heavily pre-treated platinum-resistant ovarian cancer. Based on these results, we decided to progress the development of COM7-1 and tested in earlier settings of ovarian cancer as a maintenance therapy in patients with relapsed platinum-sensitive ovarian cancer that responded to their most recent Lyme chemotherapy. The rationale is to allow POM7-1 to induce its anti-tumor activity in early-reliant patients with lower tumor burden, less compromised immune system, and by that, increase the likelihood of these patients to benefit from COM-701 unique modes of action. For this purpose, we initiated the Marioviren adaptive plasma trial. In such study 1 of this trial, COM-701 is randomized as maintenance monotherapy versus placebo in patients with relapsed platinum-sensitive ovarian cancer. We're actively enrolling patients in clinical sites across the United States, Israel, and France. Having all sites open and enrolling, spanning leading academic centers in the U.S. and Israel, as well as sites from the ATAGI Unifor French corporate group, gives us confidence in our ability to complete enrollment on schedule for having the myovarian median TFS data at interim analysis by Q1 2027. This patient population comprised of those progressing postpartum individuals and or them. All who are not candidates for such treatments will present a significant unmet medical need with no current standard of care. We believe that clear prolongation of TSS in these patients could inform a registration pack for COM701 and make it a potential backbone for drug combinations in this population while also enabling a potential broader clinical development plan across earlier and later life of ovarian cancer treatments, as well as in other indications for clinical signals previously seen for COM701. In addition, we are happy to see our partner AstraZeneca's progress on their broad real-vegotomy program. We are being confident in real-vegotomy potential based on its differentiated biospecific antibody format, in addition to its clinical and combination strategies. Last month, AstraZeneca presented multiple abstracts featuring RINVE at the ACR Annual Meeting in San Diego, reinforcing our confidence in its differentiated design and growing potential. This includes proclinical data demonstrating potential opportunities for RINVE as an IO backbone for combinations, And also, name-breaking data from the DESTINY GASTRIC O3-Phase II trial, evaluating RILVE in combination with the blockbuster ADC and HER2, and chemotherapy, and cell-type treatments for HER2-positive gastric cancers. This data showed promising antitumor activity, and also demonstrated combinability of RILVE from a safety perspective. Overall, these ACR publications continue to reinforce our confidence in RILVE as AZ continues to advance it along 11 phase 3 trials across multiple indications, including the recently opened trial in gastric in combination with the COVID-18.2 ADC. With that, we are looking forward to the release of additional clinical data on RILVE along the year, including at the next APSO meeting at the end of the month. As a reminder, AstraZeneca has previously estimated a non-risk-adjusted peak annual revenue potential of more than $5 billion per wheelbarrow, and we are eligible for additional rather than $95 billion in future regulatory and commercial milestone payments, plus mid-single-digit tiered royalties and sales. Moving to GF0321, formerly known as CO503, a potential first-in-class anti-IL-18 binding protein antibody licensed to Gilead. GS0321 represents a novel antibody approach to harness cytokine virology for the treatment of cancer, potentially overcoming the limitations of direct cytokine administration. The ongoing Phase 1 godescalation trial continues to progress as we planned. As a reminder, we received to date $90 million from Gilead for these assets, only eligible to receive up to $758 million in additional milestone payments, plus up to double-digit field royalties. Now, to the early-stage pipeline and Unigine Discovery Engine. Beyond our clinical assets, we continue to invest in our early-stage immune oncology pipeline. Unigine, our AI-powered computational survey discovery platform, has already discovered the targets of COM7-1, COM-NO2, and GS-0321. we remain committed to identifying and advancing the next wave of innovative programs grounded in novel mechanisms of action designed to activate the immune system against cancer. Importantly, we have a solid financial position, with the cash runway expected into 2029, following the December 2025 transaction with AZ, through which we received $65 million in non-diluted capital by monetizing only a small portion of our future real royalties. Our financial stability allows us to fully focus on advancing our pipeline and reaching key value-creating milestones with both our internal and partner programs. And throughout all of this, we'll continue to benefit from a deeply talented and highly committed Team Earth competition. I am proud of what we have built and energized both opportunities ahead. With that, let me go over to David for the financial update before we open the floor for Q&A.