Financial Performance - The net loss for the quarter ended September 30, 2024, was $10.5 million, or $0.08 per share, compared to a net loss of $10.0 million, or $0.08 per share, for the same period in 2023[8] - The net loss for the nine months ended September 30, 2024, was $34.3 million, or $0.25 per share, compared to a net loss of $29.1 million, or $0.23 per share, for the same period in 2023[8] Research and Development - Research and Development (R&D) expenses for the quarter were $8.6 million, a slight decrease from $8.8 million in the same period in 2023[9] - Clinical costs related to the COMPANION-002 trial increased by $5.2 million, contributing to the overall rise in R&D expenses for the nine months ended September 30, 2024[9] - The Phase 2/3 trial of CTX-009 in patients with biliary tract cancers is fully enrolled, with top-line data readout expected by the end of Q1 2025[1] - A Phase 2 trial of CTX-009 in combination with chemotherapy for DLL4-positive colorectal cancer is being designed, with initiation expected in mid-2025[1] - CTX-471 has shown a correlation between NCAM (CD56) expression and disease control, leading to plans for a Phase 2 trial in mid-2025[1] - The second dosing cohort of the Phase 1 study of CTX-8371 is fully enrolled, with enrollment into the third cohort expected to begin soon[6] Expenses - General and Administrative (G&A) expenses increased to $3.6 million for the quarter, up from $3.1 million in the same period in 2023, primarily due to higher stock compensation expenses[10] Cash and Securities - Cash and marketable securities as of September 30, 2024, totaled $135 million, down from $152 million as of December 31, 2023, providing a cash runway into the first quarter of 2027[11] Liabilities and Equity - Total liabilities increased to $10,753 million from $8,337 million, reflecting a growth of approximately 29.3% year-over-year[21] - Total stockholders' equity decreased to $138,398 million from $148,538 million, indicating a decline of about 6.8%[21] - Total liabilities and stockholders' equity amounted to $149,151 million, down from $156,875 million, representing a decrease of approximately 4.9%[21] - Long-term operating lease obligations are reported at $6,320 million[21]

Financial Performance - As of June 30, 2024, the company reported net losses of $13.1 million for the three months ended June 30, 2024, compared to $11.3 million for the same period in 2023, and $23.9 million for the six months ended June 30, 2024, compared to $19.1 million in 2023[58]. - The net loss for the three months ended June 30, 2024, was $13.1 million, compared to a net loss of $11.3 million for the same period in 2023, reflecting an increase of $1.8 million[69]. - Cash used in operating activities for the six months ended June 30, 2024, was $24.6 million, compared to $22.3 million for the same period in 2023[84]. Revenue and Expenses - Licensing revenue for the three months ended June 30, 2024, was $850 thousand, a significant increase from $0 for the same period in 2023, primarily due to a $1 million milestone payment from Elpiscience[70]. - For the six months ended June 30, 2024, licensing revenue was $850 thousand, with no licensing revenue reported for the same period in 2023[76]. - Research and development expenses increased by $1.0 million, or 9%, for the three months ended June 30, 2024, totaling $11.2 million compared to $10.2 million in the same period in 2023[71]. - Research and development expenses for the six months ended June 30, 2024, increased by $3.8 million, or 23%, totaling $20.7 million compared to $16.9 million in the same period in 2023[77]. - General and administrative expenses rose by $1.6 million, or 52%, for the three months ended June 30, 2024, reaching $4.7 million compared to $3.1 million in the same period in 2023[72]. - General and administrative expenses for the six months ended June 30, 2024, increased by $1.8 million, or 29%, totaling $8.0 million compared to $6.2 million in the same period in 2023[77]. Cash Position and Funding - As of June 30, 2024, the company had $146 million in cash, cash equivalents, and marketable securities, expected to fund operations into Q1 2027[59]. - The company has sufficient cash, cash equivalents, and marketable securities to fund operations and capital expenditures into Q1 2027, based on current plans[89]. - The company expects future funding requirements to increase substantially due to ongoing activities, including clinical trials and regulatory approvals[88]. - The company expects to require additional funding for the clinical development of three programs: CTX-009, CTX-471, and CTX-8371[89]. - The company plans to finance cash needs through equity and debt financings, collaborations, and licensing arrangements, which may dilute ownership interest[90]. Clinical Trials and Development - CTX-009 is currently in two ongoing U.S. clinical trials, with a Phase 2 trial for metastatic colorectal cancer showing a disease control rate of 71% and an overall response rate of 5%[48][49]. - A randomized Phase 2/3 trial for CTX-009 in combination with paclitaxel for biliary tract cancer has fully enrolled 150 patients, with top-line data expected in Q1 2025[49]. - The FDA granted Fast Track Designation to CTX-009 in combination with paclitaxel for the treatment of metastatic or locally advanced biliary tract cancer in April 2024[50]. - CTX-471, a monoclonal antibody, is currently in a Phase 1b clinical trial, with plans for a Phase 2 monotherapy study based on a newly identified biomarker[55][52]. - CTX-8371, a bispecific antibody targeting PD-1 and PD-L1, has completed its first cohort in a clinical trial with no dose-limiting toxicities observed[56]. - The company expects to continue incurring significant expenses for clinical development and regulatory approval for the next several years[58]. - If regulatory approval is received for CTX-009, CTX-471, or CTX-8371, significant commercialization expenses will be incurred related to manufacturing, sales, marketing, and distribution[89]. Legal and Compliance - There were no changes in internal control over financial reporting during the quarter ended June 30, 2024, that materially affected internal controls[93]. - As of the date of the report, the company is not involved in any material legal proceedings, although it may face various claims in the ordinary course of business[95].

EXHIBIT 99.1 Compass Therapeutics Reports 2024 Second Quarter Financial Results and Provides Corporate Update Completed enrollment of the 150 patients in the COMPANION-002 Study, a Phase 2/3 trial of CTX-009 (DLL4 and VEGF-A bispecific antibody) plus paclitaxel versus paclitaxel monotherapy in patients with previously treated, unresectable advanced metastatic or recurrent biliary tract cancers (BTC); top-line data expected in the first quarter of 2025. Approved an Investigator Sponsored Trial (IST) of CTX-0 ...

Company Overview - Compass Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on oncology, developing proprietary antibody-based therapeutics for multiple human diseases [2] - The company was founded in 2014 and is headquartered in Boston, Massachusetts [2] Scientific Focus - The scientific focus of Compass Therapeutics is on the relationship between angiogenesis, the immune system, and tumor growth [2] - The pipeline includes novel product candidates targeting critical biological pathways for effective antitumor responses, such as modulation of microvasculature and induction of immune responses [2] Product Development Strategy - Compass plans to advance its product candidates through clinical development as standalone therapies and in combination with proprietary pipeline antibodies [2] - The development is based on supportive clinical and nonclinical data [2] Upcoming Events - Compass Therapeutics will present at the Wedbush PacGrow Healthcare Conference in New York City on August 13, 2024, at 11 AM ET [1]

Core Insights - Compass Therapeutics has completed enrollment of 150 patients in the COMPANION-002 trial, a Phase 2/3 study evaluating CTX-009 in patients with unresectable advanced metastatic or recurrent biliary tract cancers [1][4] - The company has received approval for an Investigator Sponsored Trial (IST) to study CTX-009 in the first-line setting for biliary tract cancer, which will be conducted at The University of Texas MD Anderson Cancer Center [3] Group 1: COMPANION-002 Trial - The COMPANION-002 study is a multi-center, open-label, randomized trial comparing CTX-009 plus paclitaxel to paclitaxel alone in patients who have received one prior systemic chemotherapy regimen [4] - The primary endpoint of the trial is the overall response rate (ORR), with secondary endpoints including progression-free survival (PFS), overall survival (OS), clinical benefit rate (CBR), and duration of response (DOR) [4] - The trial is being conducted at 33 clinical sites across the United States [4] Group 2: CTX-009 Overview - CTX-009 is a bispecific antibody that blocks Delta-like ligand 4 (DLL4) and vascular endothelial growth factor A (VEGF-A) signaling pathways, which are essential for angiogenesis and tumor vascularization [5] - Preclinical and early clinical data suggest that CTX-009 provides robust anti-tumor activity across various solid tumors, including colorectal, gastric, cholangiocarcinoma, pancreatic, and non-small cell lung cancer [5] - Partial responses to CTX-009 as a monotherapy have been observed in heavily pre-treated cancer patients resistant to approved anti-VEGF therapies [5] Group 3: Company Background - Compass Therapeutics is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for multiple diseases, particularly in oncology [6] - The company's scientific focus includes the relationship between angiogenesis, the immune system, and tumor growth, with a pipeline targeting critical biological pathways for effective anti-tumor responses [6] - Founded in 2014 and headquartered in Boston, Massachusetts, Compass aims to advance its product candidates through clinical development as standalone therapies and in combination with other proprietary antibodies [6]

Compass Therapeutics, Inc. (CMPX) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system come ...

alengo/E+ via Getty Images Topline Summary Compass Therapeutics (NASDAQ:CMPX) is an oncology-focused developmental biotech working on novel immunotherapies to treat different forms of solid tumor, with the most notable shots on goal being in the gastrointestinal cancers space. They have experienced significant declines in valuation through 2023 and 2024, despite being deep in late-stage clinical study. So today I want to take a look at their projects, what they've shared to date, and the outlook for potenti ...

Investor Contact ir@compasstherapeutics.com Media Contact "Vered has been a valued member of our executive team," added Carl L. Gordon, Chairman of the Board. "We thank Vered for her significant contributions to Compass and wish her the very best in her future endeavors." About Compass Therapeutics Compass Therapeutics, Inc. is a clinical-stage oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics to treat multiple human diseases. Compass's scientific focus is on the ...

_____________________________ For the transition period from _________________ to _________________ Registrant's telephone number, including area code: (617) 500-8099 _____________________________ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ ...

Compass Therapeutics Reports 2024 First Quarter Financial Results and Provides Corporate Update Enrollment is progressing well in COMPANION-002, a Phase 2/3 randomized study of CTX-009 (DLL4 x VEGF-A bispecific antibody) in patients with advanced biliary tract cancer (BTC). Enrollment is expected to be completed by mid-year 2024 with top-line data expected in the first quarter of 2025. Advanced CTX-8371 (PD-1 x PD-L1 bispecific antibody) into a first-in-human clinical study and dosed the first patient in Ap ...