Compugen Q1 Loss Narrows - Quick Facts

(RTTNews) - Compugen Ltd. (CGEN) said that its net loss for the first quarter of 2014 narrowed to $1.9 million or $0.04 per share, from last year's $3.4 million or $0.09 per share, resulting from an increase in revenues recognized for the quarter, partially off-set by the increased corporate activities primarily relating to research and development.

Revenues for the first quarter were $2.1 million, compared with $162,000 for the comparable period in 2013. Revenues for the latest-quarter consisted primarily of the portions of the non-refundable upfront payment received under the August 2013 collaboration and license agreement with Bayer Pharma AG, that were recognizable during the quarter in accordance with US GAAP revenue recognition accounting.