Compugen Ltd. (USA) (NASDAQ: CGEN) Climbs after Drug Discovery

Compugen Ltd. (USA) (NASDAQ: CGEN) today announced the discovery and experimental validation of a new drug, CGEN-671, used for the treatment of multiple epithelial tumors. The potential application of CGEN-671 as a drug target was initially predicted by Compugen, through the use of its Monoclonal Antibody Targets Discovery Platform.

Currently, Compugen Ltd. (USA) is trading at $5.58, surged up by 36.76% on 1.67 million shares in the morning trading hours. CGEN made a new 52 week high at $5.86 today. So far in 2009, CGEN gained over 1195%.