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Compass Therapeutics to Participate in the Guggenheim Securities SMID Cap Biotech Conference
Globenewswireยท 2025-01-29 13:00
Core Insights - Compass Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing proprietary antibody-based therapeutics for oncology and other diseases [1][3] - The company will present at the Guggenheim Securities SMID Cap Biotech Conference in New York City on February 5-6, 2025 [1][2] Company Overview - Founded in 2014 and headquartered in Boston, Massachusetts, Compass Therapeutics specializes in the relationship between angiogenesis, the immune system, and tumor growth [3] - The company's pipeline includes novel product candidates targeting critical biological pathways for effective anti-tumor responses, including angiogenesis modulation and immune response induction [3] - Compass plans to advance its product candidates through clinical development as standalone therapies and in combination with proprietary pipeline antibodies [3]
Compass Therapeutics(CMPX) - 2024 Q4 - Annual Results
2025-02-27 13:00
Financial Position - Estimated cash, cash equivalents, and marketable securities were approximately $127 million as of December 31, 2024[6] - The financial data is unaudited and preliminary, subject to completion of financial closing procedures[6] Product Development - The company announced the advancement of a new drug candidate[5]
Compass Therapeutics Provides Corporate Update and Announces Advancement of a New Drug Candidate
Globenewswireยท 2025-01-08 13:00
Core Insights - Compass Therapeutics, Inc. is approaching a significant milestone with the upcoming top-line data readout for its Phase 2/3 study of tovecimig in patients with advanced biliary tract cancer (BTC) expected at the end of Q1 2025 [2][6] - The company has introduced a new drug candidate, CTX-10726, a PD-1 x VEGF-A bispecific antibody, with an IND submission anticipated by the end of 2025 and initial clinical data expected in 2026 [2][6][12] - Compass is progressing with two new Phase 2 biomarker studies, one for tovecimig and another for CTX-471, both expected to start in mid-2025 [2][6] Development Pipeline Updates - Tovecimig (CTX-009) is a DLL4 x VEGF-A bispecific antibody with a top-line data readout scheduled for the end of Q1 2025 in patients with BTC [3][6] - CTX-471 is a CD137 agonist antibody, with a Phase 2 trial initiation expected in mid-2025 targeting tumors expressing NCAM/CD56 [4][6] - CTX-8371 is a PD-1 x PD-L1 bispecific antibody, with the third dosing cohort of its Phase 1 study fully enrolled and preliminary data expected in the second half of 2025 [5][6][12] Financial Position - As of December 31, 2024, Compass Therapeutics reported an estimated $127 million in cash and marketable securities, which is projected to sustain operations into Q1 2027 [9][6]
Down -23.46% in 4 Weeks, Here's Why You Should You Buy the Dip in Compass Therapeutics, Inc. (CMPX)
ZACKSยท 2024-11-21 15:35
Core Viewpoint - Compars Therapeutics, Inc. (CMPX) has experienced a significant decline of 23.5% in its stock price over the past four weeks, but it is now in oversold territory, suggesting a potential for a turnaround as analysts expect better earnings than previously predicted [1]. Group 1: Stock Performance and Technical Indicators - CMPX's stock is currently showing signs of being oversold, with a Relative Strength Index (RSI) reading of 28.08, indicating that the heavy selling pressure may be exhausting itself [5]. - The RSI is a momentum oscillator that helps identify whether a stock is oversold, typically when the reading falls below 30 [2]. - The stock's price movements suggest it could soon revert to its previous equilibrium of supply and demand [5]. Group 2: Earnings Estimates and Analyst Sentiment - There has been a strong consensus among sell-side analysts to raise earnings estimates for CMPX, resulting in a 15.4% increase in the consensus EPS estimate over the last 30 days [7]. - An upward trend in earnings estimate revisions is generally associated with price appreciation in the near term [7]. - CMPX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate trends and EPS surprises, indicating a strong potential for a turnaround [8].
What Makes Compass Therapeutics, Inc. (CMPX) a New Buy Stock
ZACKSยท 2024-11-15 18:00
Core Viewpoint - Compass Therapeutics, Inc. (CMPX) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks rating system is based on the Zacks Consensus Estimate, which reflects EPS estimates from sell-side analysts for the current and following years [2]. - The recent upgrade for Compass Therapeutics reflects an improvement in the company's earnings outlook, potentially leading to increased buying pressure and stock price appreciation [4][6]. - For the fiscal year ending December 2024, Compass Therapeutics is expected to earn -$0.38 per share, representing a -15.2% change from the previous year [9]. Impact of Institutional Investors - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements, largely due to institutional investors adjusting their valuations based on these estimates [5]. - Institutional investors' actions, driven by earnings estimates, can lead to significant price movements in stocks [5]. Zacks Rank System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [8]. - The upgrade of Compass Therapeutics to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [11].
Compass Therapeutics(CMPX) - 2024 Q3 - Quarterly Report
2024-11-12 13:01
Financial Performance - As of September 30, 2024, Compass Therapeutics reported net losses of $10.5 million for Q3 2024, compared to $10.0 million for Q3 2023, and $34.3 million for the nine months ended September 30, 2024, compared to $29.1 million for the same period in 2023[73]. - The company has an accumulated deficit of $350 million as of September 30, 2024, and expects to continue incurring significant expenses for clinical development over the next few years[73]. - For the three months ended September 30, 2024, total operating expenses increased by $0.3 million, or 2.6%, to $12.239 million compared to $11.926 million for the same period in 2023[85]. - Research and development expenses decreased by $0.2 million, or 2%, to $8.612 million for the three months ended September 30, 2024, compared to $8.831 million for the same period in 2023[86]. - General and administrative expenses increased by $0.5 million, or 17%, to $3.627 million for the three months ended September 30, 2024, primarily due to increased stock compensation costs[87]. - Licensing revenue for the nine months ended September 30, 2024, was $850 thousand, a significant increase from $0 for the same period in 2023, driven by a $1 million milestone payment from Elpiscience[89]. - Research and development expenses increased by $3.6 million, or 14%, to $29.304 million for the nine months ended September 30, 2024, compared to $25.694 million for the same period in 2023[90]. - General and administrative expenses increased by $2.3 million, or 25%, to $11.597 million for the nine months ended September 30, 2024, compared to $9.276 million for the same period in 2023[92]. - Cash used in operating activities for the nine months ended September 30, 2024, was $35.693 million, compared to $28.264 million for the same period in 2023[98]. - Cash provided by financing activities for the nine months ended September 30, 2024, was $17.432 million, significantly higher than $3.093 million for the same period in 2023[102]. - As of September 30, 2024, the company had cash and marketable securities of $135 million, which is expected to fund operations into the first quarter of 2027[94][105]. Clinical Trials and Product Development - CTX-009 is currently in a Phase 2/3 trial in combination with paclitaxel for biliary tract cancer, with 150 patients enrolled and top-line data expected by the end of Q1 2025[62]. - The Phase 2 monotherapy trial of CTX-009 in metastatic colorectal cancer was discontinued after failing to meet response criteria, with an overall response rate of 5% and a disease control rate of 71%[60][61]. - CTX-471, a monoclonal antibody, showed an overall response rate of 27% in advanced melanoma patients during its Phase 1b trial, with five clinical responses reported[67]. - CTX-8371, a bispecific antibody targeting PD-1 and PD-L1, has completed its second cohort in clinical trials with no dose-limiting toxicities observed, and the third cohort is planned for late 2024[71]. - The company plans to initiate a new second-line trial for CTX-009 in metastatic colorectal cancer combined with chemotherapy in mid-2025[61]. - The FDA granted Fast Track Designation to CTX-009 in combination with paclitaxel for the treatment of previously treated metastatic or locally advanced biliary tract cancer[62]. - Compass Therapeutics intends to explore additional indications for CTX-009 based on preclinical models and clinical data, including ovarian, liver, gastric, pancreatic, and renal cell cancers[64]. Funding and Financial Strategy - The company anticipates increased expenses related to ongoing clinical trials and commercialization efforts for its product candidates, necessitating additional funding[96][105]. - The company expects to finance cash needs through equity and debt financings, collaborations, and licensing arrangements[106]. - If additional capital is raised through equity or convertible debt, ownership interest may be materially diluted[106]. - Debt financing may involve restrictive covenants limiting actions such as incurring additional debt or declaring dividends[106]. Internal Controls and Legal Proceedings - The company has evaluated its disclosure controls and procedures as effective as of September 30, 2024[108]. - There were no changes in internal control over financial reporting that materially affected the company during the quarter ended September 30, 2024[109]. - The company is not currently involved in any material legal proceedings, but may face various claims in the ordinary course of business[111].
Compass Therapeutics(CMPX) - 2024 Q3 - Quarterly Results
2024-11-12 13:01
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]
Compass Therapeutics(CMPX) - 2024 Q2 - Quarterly Report
2024-08-12 12:00
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].
Compass Therapeutics(CMPX) - 2024 Q2 - Quarterly Results
2024-08-12 12:00
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 ...
Compass Therapeutics to Participate in the Wedbush PacGrow Healthcare Conference
Newsfilterยท 2024-08-07 12:00
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]