Core Insights - Compass Therapeutics, Inc. reported a strong foundation in 2024, anticipating a transformational year ahead with significant clinical developments and financial stability [2][4]. Financial Performance - The net loss for the year ended December 31, 2024, was 0.36 per common share, compared to a net loss of 0.33 per common share for 2023 [12]. - Research and Development (R&D) expenses increased to 38.1 million in 2023, primarily due to additional spending on tovecimig and CTX-471 [13]. - General and Administrative (G&A) expenses rose to 12.2 million in 2023, marking a 24% increase [14]. - As of December 31, 2024, the company had 152 million in 2023, providing a cash runway into 2027 [15]. Clinical Developments - Enrollment for the COMPANION-002 study of tovecimig in patients with advanced biliary tract cancer (BTC) was completed, with top-line data expected by the end of Q1 2025 [6][7]. - An Investigator Sponsored Study (IST) for tovecimig in the first-line setting for BTC is set to begin patient dosing in Q1 2025 [6][7]. - The company advanced CTX-10726, a PD-1 x VEGF-A bispecific antibody, through preclinical development, with an IND filing expected by the end of 2025 and clinical data anticipated in 2026 [3][6]. - A Phase 2 clinical trial for CTX-471, a CD137 agonist antibody, is expected to begin in mid-2025, utilizing a new potential biomarker, NCAM (CD56) [4][10]. - The Phase 1 study of CTX-8371, a PD-1 x PD-L1 bispecific antibody, has completed dosing of the first three cohorts with no dose-limiting toxicities observed [4][11]. Pipeline Updates - The company plans to initiate two Phase 2 clinical trials in mid-2025: one for tovecimig in DLL4-positive colorectal cancer (CRC) in combination with chemotherapy, and another for CTX-471 in NCAM/CD56 expressing tumors [6][8]. - The company aims to report preclinical data for CTX-10726 in 2025, differentiating its product profile from other antibodies in the class [3].
Compass Therapeutics Reports 2024 Financial Results and Provides Corporate Update