Compass Therapeutics Reports 2025 Second Quarter Financial Results and Provides Corporate Update

Core Viewpoint - Compass Therapeutics, Inc. reported its second quarter 2025 financial results and provided updates on its clinical and pre-clinical programs, highlighting progress in its oncology-focused pipeline and a strong cash position to support operations into 2027 [1][11][17]. Financial Performance - The net loss for Q2 2025 was $19.9 million, or $0.14 per share, compared to a net loss of $13.1 million, or $0.10 per share, for the same period in 2024, marking an increase in loss of approximately 51% [11][22]. - For the first six months of 2025, the net loss was $36.5 million, or $0.26 per share, compared to $23.9 million, or $0.17 per share, for the same period in 2024, reflecting a 53% increase in loss [11][22]. - As of June 30, 2025, the company had $101 million in cash and marketable securities, down from $127 million at the end of 2024, providing a cash runway into 2027 [17][24]. Clinical Development Updates - The Phase 2/3 trial of tovecimig met its primary endpoint, showing fewer deaths than initially projected, which may indicate a positive impact on overall survival [2][5][6]. - In the Phase 1 study of CTX-8371, two confirmed partial responses were observed, including a complete resolution of target lesions in a non-small cell lung cancer patient and over 90% reduction in a triple-negative breast cancer patient [3][5]. - CTX-10726 is on track for IND submission in Q4 2025, with initial preclinical data suggesting it may outperform ivonescimab in PD-1 inhibition and anti-tumor activity [3][12]. Research and Development Expenses - R&D expenses for Q2 2025 were $16.4 million, an increase of 47% from $11.2 million in Q2 2024, primarily due to additional manufacturing costs related to tovecimig and CTX-10726 [13]. - For the first half of 2025, R&D expenses totaled $29.5 million, up 42% from $20.7 million in the same period in 2024 [13]. General and Administrative Expenses - G&A expenses for Q2 2025 were $4.7 million, consistent with Q2 2024, while for the first half of 2025, G&A expenses increased by 20% to $9.6 million compared to $8.0 million in the same period in 2024, attributed to higher share-based compensation [14].