Strong Financial Position
Cash balance as of September 30, 2024, was approximately $113.2 million, compared to $51.1 million at the end of 2023, providing a cash runway expected to fund current plans into 2027.
Significant Revenue Increase
Q3 2024 revenues were $17.1 million, compared to no revenues in Q3 2023, driven by a $30 million milestone payment from Gilead.
Encouraging Clinical Data for COM701
COM701 showed a 17% objective response rate and a 46% disease control rate in platinum-resistant ovarian cancer patients, with a favorable safety profile and durable responses.
Promising Development of COM503
Received $30 million milestone payment from Gilead for achieving FDA IND clearance, with plans to initiate Phase I study in the current quarter.
Potential Revenue from AstraZeneca Partnership
AstraZeneca's broad development strategy with Rilvegostomig, which includes components derived from COM902, may provide significant future revenue, including milestone payments and royalties.