Compass Therapeutics, Inc.
CMPX evidence brief
What we can confirm
- Market Cap:
- $392.6M
What it means
What to watch
Prepared research question
What matters most for CMPX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CMPX
Compass Therapeutics, Inc. (CMPX) is a clinical-stage biopharmaceutical company developing antibody-based therapeutics for oncology, with a lead Phase 3 candidate (tovecimig) for biliary tract cancer and a pipeline of earlier-stage immuno-oncology assets.
Key risk: FDA survival-trial demand
Market Cap
$392.6M
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Jun 30, 2026.
Compass Therapeutics, Inc. (CMPX) is a clinical-stage biopharmaceutical company developing antibody-based therapeutics for oncology, with a lead Phase 3 candidate (tovecimig) for biliary tract cancer and a pipeline of earlier-stage immuno-oncology assets.
- Lead candidate tovecimig (CTX-009) is in a Phase 2/3 randomized study (COMPANION-002) for biliary tract cancer and has received Orphan Drug designation [pipeline].
- Cash & equivalents were $35.5M as of 2026-06-30, with net income of -$25.2M and shareholders' equity of $166.0M [sec].
- The company plans to discuss COMPANION-002 data with the FDA ahead of a BLA submission and expects to present the complete dataset at a medical conference in 2026 [sec · filed 2026-09-22].
- Pipeline includes CTX-8371 (PD-1/PD-L1 bispecific) in Phase 1 for non-small cell lung cancer and CTX-471 (CD137 agonist) in Phase 1 for locally advanced solid tumors [pipeline].
- Compass has an exclusive global license (outside South Korea) for tovecimig from ABL Bio, Inc. [pipeline].
What works
- Tovecimig has Orphan Drug designation and is in a Phase 2/3 study with a planned BLA submission, indicating regulatory progress [pipeline].
- The company has a diversified pipeline with three distinct clinical-stage candidates targeting different immune checkpoints and pathways [pipeline].
- Management includes commercial leadership with experience in over 10 oncology launches, including a recent biliary tract cancer drug [sec · filed 2026-04-29].
What to weigh
- The company is pre-revenue and reported a net loss of -$25.2M for the six months ended 2026-06-30, with cash of only $35.5M [sec].
- FDA has recommended an additional survival-trial requirement for tovecimig, creating uncertainty around the BLA timeline and regulatory path [news · published 2026-09-22].
- The company acknowledges it needs to raise additional funding to continue operations and product development [sec · filed 2026-09-22].
- Tovecimig faces a competitive landscape that includes multiple large players (e.g., AstraZeneca, Roche) in biliary tract cancer and related indications [pipeline].
From the filings
Quoted directly from source documents.
Compass intends to discuss COMPANION-002 data with the FDA ahead of a BLA submission.
“Compass's intention to discuss the data in the COMPANION-002 Randomized Phase 2/3 Study with the FDA in advance of a planned BLA submission”
SEC filings · September 22, 2026
Tovecimig is a bispecific antibody targeting DLL4 and VEGF-A for biliary tract cancer.
“bispecific antibody targeting Delta-like ligand 4 ("DLL4"), a ligand of Notch-1, and vascular endothelial growth factor A ("VEGF-A")”
Pipeline
FDA recommended an additional survival-trial requirement for tovecimig.
“FDA recommended the company run a t”
News · September 22, 2026
Catalyst timeline
- 2019-05-17 · Phase 1 Start (CTX-471) — Initiation of a Phase 1 study of CTX-471 as monotherapy and in combination with pembrolizumab for patients with inadequate responses to PD-1/PD-L1 inhibitors.
- 2022-12-08 · Phase 2 Start (CTX-009) — Start of a Phase 2 study of CTX-009 in adult patients with metastatic colorectal cancer who have received two or three prior systemic regimens.
- 2023-01-09 · Phase 3 Start (CTX-009 in BTC) — Initiation of a Phase 2/3 randomized study of CTX-009 in combination with paclitaxel for unresectable advanced/metastatic biliary tract cancer.
Risks & what to watch (4)›
Key risks
- FDA survival-trial demand — FDA recommended an additional survival trial for tovecimig, potentially delaying BLA submission and increasing costs [news · published 2026-09-22].
- Cash runway limited — With $35.5M cash and a $25.2M semi-annual net loss, the company may need to raise capital within the next 12-18 months [sec].
- Single-asset dependency — Tovecimig is the only Phase 3 candidate; failure or delay would leave the company with only early-stage assets [pipeline].
- Competitive pressure — Biliary tract cancer and PD-1/PD-L1 spaces are crowded with large pharma and multiple bispecific competitors [pipeline].
What to watch
- FDA feedback and any new requirements for tovecimig's BLA submission [news · published 2026-09-22].
- Presentation of complete COMPANION-002 dataset at a medical conference in 2026 [sec · filed 2026-09-22].
- Company's ability to raise additional funding to support operations and development [sec · filed 2026-09-22].
- Progress of Phase 1 candidates CTX-8371 and CTX-471 into later-stage trials [pipeline].
Sources: Catalysts · Competitor trials · News · Pipeline · SEC filings · Generated October 4, 2026 · How we verify sources →
Run Compass Therapeutics, Inc. through your own thesis
Use the pipeline, catalyst, financial, FDA, and market facts on this page as inputs to a protocol you control.
Your protocol can:
- Turn available Compass Therapeutics, Inc. facts into screen rules or deeper checks
- Show cited findings, blockers, and unresolved evidence together
- Save the logic and rerun it as the company evidence changes
Evidence & data
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
200
Total value held
$917.7M
| Holder | Shares | Value |
|---|---|---|
| tang capital management llc | 16,790,809 | $88.8M |
| orbimed advisors llc | 15,219,994 | $80.5M |
| suvretta capital management, llc | 14,307,379 | $75.7M |
| vivo capital, llc | 9,545,466 | $50.5M |
| blackrock, inc. | 9,506,080 | $50.3M |
| adage capital partners gp, l.l.c. | 8,486,500 | $44.9M |
| enavate sciences gp, llc | 7,788,150 | $41.2M |
| bvf inc/il | 7,764,842 | $41.1M |
| state street corp | 6,694,976 | $35.4M |
| vanguard capital management llc | 6,037,175 | $31.9M |
Showing top 10 of 200 institutional holders of Compass Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 20.2%
- Days to cover
- 2.4
- Shares short
- 30,416,716
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CMPX short interestGovernance
Frequently asked questions
What is the AI investment thesis for Compass Therapeutics, Inc.?
Compass Therapeutics, Inc. (CMPX) is a clinical-stage biopharmaceutical company developing antibody-based therapeutics for oncology, with a lead Phase 3 candidate (tovecimig) for biliary tract cancer and a pipeline of earlier-stage immuno-oncology assets.
Who is the CEO of Compass Therapeutics, Inc.?
Dr. Thomas J. Schuetz M.D., Ph.D. is the chief executive officer of Compass Therapeutics, Inc. (CMPX).
Where is Compass Therapeutics, Inc. headquartered?
Compass Therapeutics, Inc. (CMPX) is headquartered in Boston, MA, United States.
What therapeutic areas does Compass Therapeutics, Inc. focus on?
Compass Therapeutics, Inc. develops therapies across Oncology, Nephrology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.