$CGEN

COMPUGEN LTD

CIK:0001119774|SEC Filings

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net profit (loss)	$ 35,343	$ (14,231)	$ (18,754)
Adjustments required to reconcile net loss to net cash used in operating activities:
Share-based compensation	1,881	3,023	3,550
Depreciation	475	486	476
Decrease in severance pay, net	(96)	(81)	(50)
Loss (gain) from property and equipment sales and disposals	(1)	0	7
Exchange rate differences gain on cash balances	(135)	(68)	(129)
Decrease (increase) in interest receivables from short-term bank deposits and long-term restricted deposit	98	(855)	92
Amortization of discount and accrued interest on marketable securities	(485)	(1,575)	(280)
Decrease (increase) in trade receivables	0	61,000	(61,000)
Decrease (increase) in other accounts receivable and prepaid expenses	360	(213)	(112)
Decrease (increase) in long-term prepaid expenses	595	(655)	666
Decrease in operating lease right of use asset	479	550	568
Increase (decrease) in trade payables	517	(1,669)	1,734
Increase (decrease) in employees and related accruals	(24)	(51)	313
Increase (decrease) in accrued expenses	500	(2,690)	1,462
Decrease in deferred participation in R&D expenses	0	0	(325)
Increase (decrease) in deferred revenues	(7,764)	7,136	36,541
Decrease in operating lease liability	(109)	(503)	(645)
Net cash provided by (used in) operating activities	31,634	49,604	(35,886)
Cash flows from investing activities:
Proceeds from maturity of short-term bank deposits	76,064	60,717	79,242
Investment in short-term bank deposits	(60,575)	(96,219)	(32,100)
Proceeds from maturity of marketable securities	50,306	53,230	10,145
Investment in marketable securities	(35,479)	(63,533)	(21,605)
Investment in long term restricted deposit	(16)	(330)	0
Purchase of property and equipment	(306)	(118)	(172)
Proceeds from sale of property and equipment	1	1	0
Net cash provided by (used in) investing activities	29,995	(46,252)	35,510
Cash flows from financing activities:
Proceeds from issuance of ordinary shares, net	10,535	544	3,081
Proceeds from exercise of share-based awards	73	10	0
Payments of tax withholding for share-based compensation	(4)	0	0
Net cash provided by financing activities	10,604	554	3,081
Effect of exchange rate changes on cash	135	68	129
Increase in cash, cash equivalents and restricted cash	72,368	3,974	2,834
Cash, cash equivalents and restricted cash at the beginning of the year	18,229	14,255	11,421
Cash, cash equivalents and restricted cash at the end of the year	90,597	18,229	14,255
Supplemental disclosure of non-cash investing and financing activities:
Purchase of property and equipment	2	5	(5)
Right-of-use asset obtained in exchange for operating lease liability	157	2,064	71
Issuance expenses of ordinary shares	8	0	0
Tax paid during the year for Taxes of income
Tax paid during the year for Taxes of income	55	13,517	12
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	90,597	18,229	13,890
Restricted cash	0	0	365
Total cash, cash equivalents and restricted cash	$ 90,597	$ 18,229	$ 14,255

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 90,597	$ 18,229
Short-term bank deposits	45,759	61,397
Investment in marketable securities	9,284	23,629
Other accounts receivable and prepaid expenses	2,382	2,742
Total current assets	148,022	105,997
NON-CURRENT ASSETS:
Restricted long-term bank deposits	410	343
Long-term prepaid expenses	1,293	1,888
Severance pay fund	3,643	3,072
Operating lease right of use asset	2,521	2,843
Property and equipment, net	681	852
Total non-current assets	8,548	8,998
Total assets	156,570	114,995
CURRENT LIABILITIES:
Trade payables	2,353	1,838
Deferred revenues	10,970	9,632
Current maturity of operating lease liability	521	448
Accrued expenses	5,676	5,168
Employees and related accruals	3,050	3,074
Total current liabilities	22,570	20,160
NON-CURRENT LIABILITIES:
Deferred revenues	24,943	34,045
Operating lease liability	2,439	2,464
Accrued severance pay	3,887	3,412
Total non-current liabilities	31,269	39,921
COMMITMENTS AND CONTINGENT LIABILITIES
SHAREHOLDERS' EQUITY:
Ordinary shares of NIS 0.01 par value: 200,000,000 shares authorized at December 31, 2025 and 2024; 94,553,191 and 89,541,246 shares issued and outstanding at December 31, 2025 and 2024, respectively.	262	248
Additional paid-in capital	555,876	543,413
Accumulated other comprehensive income	8	11
Accumulated deficit	(453,415)	(488,758)
Total shareholders’ equity	102,731	54,914
Total liabilities and shareholders’ equity	$ 156,570	$ 114,995