Compass Therapeutics Reports 2024 Third Quarter Financial Results and Provides Corporate Update

Core Insights - Compass Therapeutics is advancing its clinical-stage programs with three drugs currently in trials, including CTX-009, CTX-471, and CTX-8371, with significant milestones expected in the near future [2][3][4] Clinical Development Updates - CTX-009, a bispecific antibody targeting DLL4 and VEGF-A, has fully enrolled its Phase 2/3 trial in biliary tract cancers, with top-line data expected by the end of Q1 2025 [1][4] - A Phase 2 trial for CTX-009 in combination with chemotherapy for DLL4-positive colorectal cancer is being designed, with initiation anticipated in mid-2025 [1][3] - CTX-471 has shown promising results in a Phase 1 trial, identifying NCAM as a potential biomarker for response, with a Phase 2 trial planned for mid-2025 [1][5] - The second dosing cohort of the Phase 1 study for CTX-8371 is fully enrolled, with enrollment for the third cohort expected to begin soon [1][6] Financial Performance - For Q3 2024, Compass reported a net loss of $10.5 million, consistent with the previous year, while the net loss for the nine months ended September 30, 2024, was $34.3 million, compared to $29.1 million in the same period of 2023 [7] - Research and Development expenses for Q3 2024 were $8.6 million, slightly down from $8.8 million in Q3 2023, while R&D expenses for the nine months increased to $29.3 million from $25.7 million [7] - General and Administrative expenses rose to $3.6 million for Q3 2024, up from $3.1 million in Q3 2023, primarily due to increased stock compensation expenses [8] Cash Position - As of September 30, 2024, Compass had a cash balance of $135 million, down from $152 million at the end of 2023, providing a cash runway into Q1 2027 [9]