Compugen Ltd.
AI Valuation
AI-generated fair value estimate for this company.
Method: Net-asset-value approach for a partnered clinical-stage biotech: $122.3M net cash (quarter-end) plus an estimated $150M risk-adjusted NPV of royalty/milestone economics on partnered pipeline programs (Gilead and Bristol Myers Squibb collaborations on bispecific/immuno-oncology candidates including COM701-related programs), discounted at a 14% biotech-appropriate rate for clinical/regulatory risk; 94.72M shares outstanding.
Reasoning: Compugen has no sustainable standalone product revenue (its $74M TTM revenue and $35.2M TTM net income are driven by one-time collaboration milestones, not recurring cash flow), so a conventional FCF DCF is not meaningful; a cash-plus-risk-adjusted-pipeline NAV approach is the more appropriate method for a company whose value rests on partnered-program milestones/royalties and a multi-year cash runway (management states funding is sufficient into 2029).