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Compass Therapeutics (CMPX)

Market Price (6/25/2026): $2.03 | Market Cap: $378.4 MilSector: Health Care | Industry: Biotechnology

Compass Therapeutics (CMPX)

Market Price (6/25/2026): $2.03
Market Cap: $378.4 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -49%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.

Weak multi-year price returns
3Y Excs Rtn is -101%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -75 Mil

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is null

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -22%

Key risks
CMPX key risks include [1] the historically low success rate for its class of novel anti-angiogenic therapies and [2] a dependency on future financing due to its history of significant losses and lack of approved products.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -49%
1 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.
2 Weak multi-year price returns
3Y Excs Rtn is -101%
3 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18%
4 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -75 Mil
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is null
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -22%
8 Key risks
CMPX key risks include [1] the historically low success rate for its class of novel anti-angiogenic therapies and [2] a dependency on future financing due to its history of significant losses and lack of approved products.

CMPX in ETFs

Weight = CMPX's share of each fund

VTI0.00%
ITOT0.00%
IWM0.01%
XBI0.10%
VTWO0.01%
IWO0.01%
IWN0.01%
VHT0.00%
+4 more covered ETFs

Valuation & Metrics

FYE: 12/31CMPX [1]S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]$0.0 Mil—
FY 2026 Sales$-2.4 Mil—
FY 2027 Sales$25.9 Mil—
FY 2026 Sales Growth——
FY 2027 Sales Growth—8.2%
EARNINGS
LTM Net Income (GAAP) [3]$-68.2 Mil—
FY 2026 Net Income (Non-GAAP)$-64.1 Mil—
FY 2027 Net Income (Non-GAAP)$-89.8 Mil—
FY 2027 Net Income Growth—16.0%
FY 2026 EPS (Non-GAAP)$-0.44—
FY 2027 EPS (Non-GAAP)$-0.46—
FY 2027 EPS Growth——
VALUATION
FY 2026 P/S—3.3
FY 2027 P/S14.6—
FY 2026 P/E—20.2
FY 2027 P/E——

[1] CMPX forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).
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MetricValueDateSource
Number of Clinical Product Candidates311052025Link
Number of Preclinical Product Candidates in IND Enabling Studies111052025Link
Number of Granted U.S. Patents44292025Link
Tovecimig (CTX-009) Clinical Trial PhasePhase 2/311052025Link
CTX-8371 Clinical Trial PhasePhase 111052025Link
CTX-471 Clinical Trial PhasePhase 211052025Link
CTX-10726 Development StageIND Filing Planned11052025Link

Price Chart

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Upcoming
8/10/2026Earnings ReleaseRev: $0.0 Mil (E)
EPS: $-0.10 (E)

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/10/2026

Compass Therapeutics (CMPX) stock has lost about 65% since 2/28/2026 because of the following key factors:

1. Disappointing Overall Survival Data from Key Clinical Trial.

Compass Therapeutics announced on April 27, 2026, that its lead drug candidate, tovecimig (CTX-009), in the Phase 2/3 COMPANION-002 study for biliary tract cancer (BTC), failed to meet a crucial secondary endpoint for overall survival (OS). The median OS for the tovecimig combination was 8.9 months compared to 9.4 months for the control arm (HR=1.05, p=0.78), indicating a lack of statistical significance for this endpoint.

2. Precipitous Stock Price Decline.

Following the announcement of the mixed clinical trial results on April 27, 2026, Compass Therapeutics' stock (CMPX) experienced a substantial downturn, plunging approximately 62% to 80% on that day. The share price fell from around $5.03 on April 24, 2026, to approximately $1.77-$1.98.

Show more
Updated on 6/10/2026

Compass Therapeutics (CMPX) stock has lost about 65% since 2/28/2026 because of the following key factors:

1. Disappointing Overall Survival Data from Key Clinical Trial.

Compass Therapeutics announced on April 27, 2026, that its lead drug candidate, tovecimig (CTX-009), in the Phase 2/3 COMPANION-002 study for biliary tract cancer (BTC), failed to meet a crucial secondary endpoint for overall survival (OS). The median OS for the tovecimig combination was 8.9 months compared to 9.4 months for the control arm (HR=1.05, p=0.78), indicating a lack of statistical significance for this endpoint.

2. Precipitous Stock Price Decline.

Following the announcement of the mixed clinical trial results on April 27, 2026, Compass Therapeutics' stock (CMPX) experienced a substantial downturn, plunging approximately 62% to 80% on that day. The share price fell from around $5.03 on April 24, 2026, to approximately $1.77-$1.98.

3. Analyst Downgrades and Heightened Regulatory Uncertainty.

The failure to achieve statistical significance for overall survival in the COMPANION-002 study, despite positive progression-free survival (PFS) and overall response rate (ORR) data, led to increased investor concern regarding the drug's future. This outcome, coupled with a high crossover rate (54%) in the trial that complicated data interpretation, prompted Raymond James to downgrade CMPX from Outperform to Market Perform, citing the survival outcome as a "true bear" scenario for regulatory and commercial prospects. The uncertainty surrounding potential FDA approval of tovecimig contributed significantly to the stock's negative trend.

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Stock Movement Drivers

Fundamental Drivers

The -64.2% change in CMPX stock from 2/28/2026 to 6/24/2026 was primarily driven by a -9.5% change in the company's Shares Outstanding (Mil).
(LTM values as of)22820266242026Change
Stock Price ($)5.652.02-64.2%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)169186-9.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/24/2026
ReturnCorrelation
CMPX-64.2% 
Market (SPY)7.2%17.9%
Sector (XLV)-3.9%21.3%

Fundamental Drivers

The -65.2% change in CMPX stock from 11/30/2025 to 6/24/2026 was primarily driven by a -9.5% change in the company's Shares Outstanding (Mil).
(LTM values as of)113020256242026Change
Stock Price ($)5.802.02-65.2%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)169186-9.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/24/2026
ReturnCorrelation
CMPX-65.2% 
Market (SPY)7.9%18.6%
Sector (XLV)-1.9%19.7%

Fundamental Drivers

The -3.8% change in CMPX stock from 5/31/2025 to 6/24/2026 was primarily driven by a null change in the company's Total Revenues ($ Mil).
(LTM values as of)53120256242026Change
Stock Price ($)2.102.02-3.8%
Change Contribution By: 
Total Revenues ($ Mil)10 
P/S Multiple341.5∞9.2233720368547763E17%
Shares Outstanding (Mil)138186-25.8%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/24/2026
ReturnCorrelation
CMPX-3.8% 
Market (SPY)25.8%15.8%
Sector (XLV)17.7%16.3%

Fundamental Drivers

The -30.3% change in CMPX stock from 5/31/2023 to 6/24/2026 was primarily driven by a -32.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)53120236242026Change
Stock Price ($)2.902.02-30.3%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)126186-32.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/24/2026
ReturnCorrelation
CMPX-30.3% 
Market (SPY)82.4%26.0%
Sector (XLV)26.1%23.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CMPX Return-20%59%-69%-7%270%-62%-48%
Peers Return-14%-22%18%-9%7%32%2%
S&P 500 Return27%-19%24%23%16%8%96%

Monthly Win Rates [3]
CMPX Win Rate0%58%8%42%67%33% 
Peers Win Rate40%47%50%53%47%53% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
CMPX Max Drawdown--64%-74%-65%-63%-75% 
Peers Max Drawdown-43%-50%-35%-46%-47%-23% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: XNCR, REGN, AMGN, MGNX, ZYME.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/24/2026 (YTD)

How Low Can It Go

EventCMPXS&P 500
2025 US Tariff Shock
  % Loss-56.8%-18.8%
  % Gain to Breakeven131.5%23.1%
  Time to Breakeven146 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-44.4%-9.5%
  % Gain to Breakeven80.0%10.5%
  Time to Breakeven431 days24 days
2023 SVB Regional Banking Crisis
  % Loss-30.5%-6.7%
  % Gain to Breakeven43.9%7.1%
  Time to Breakeven657 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-64.3%-24.5%
  % Gain to Breakeven180.0%32.4%
  Time to Breakeven219 days427 days

Compare to XNCR, REGN, AMGN, MGNX, ZYME

In The Past

Compass Therapeutics's stock fell -56.8% during the 2025 US Tariff Shock. Such a loss loss requires a 131.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventCMPXS&P 500
2025 US Tariff Shock
  % Loss-56.8%-18.8%
  % Gain to Breakeven131.5%23.1%
  Time to Breakeven146 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-44.4%-9.5%
  % Gain to Breakeven80.0%10.5%
  Time to Breakeven431 days24 days
2023 SVB Regional Banking Crisis
  % Loss-30.5%-6.7%
  % Gain to Breakeven43.9%7.1%
  Time to Breakeven657 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-64.3%-24.5%
  % Gain to Breakeven180.0%32.4%
  Time to Breakeven219 days427 days

Compare to XNCR, REGN, AMGN, MGNX, ZYME

In The Past

Compass Therapeutics's stock fell -56.8% during the 2025 US Tariff Shock. Such a loss loss requires a 131.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Compass Therapeutics (CMPX)

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Compass Therapeutics (CMPX) is a clinical-stage biopharmaceutical company dedicated to developing innovative, proprietary antibody-based therapeutics specifically for the treatment of various human cancers. Based in Boston, Massachusetts, the company focuses on advancing novel drug candidates through clinical trials with the goal of addressing significant unmet medical needs in oncology.

The company's pipeline features several key product candidates. CTX-009, an investigational bispecific antibody, is currently in Phase II clinical trials for biliary tract cancers and in Phase Ib trials for colorectal and ovarian cancers. Another promising candidate, CTX-471, is a monoclonal antibody undergoing Phase I clinical trials for patients with solid tumors, including small cell lung cancer and melanoma. Additionally, Compass is developing CTX-8371, a bispecific inhibitor targeting the PD-1 and PD-L1 pathways, further expanding its therapeutic efforts within the oncology market to serve patients with diverse and challenging tumor types.

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AI Analysis | Feedback

Here are 1-3 brief analogies for Compass Therapeutics (CMPX):

  • A clinical-stage Amgen, but focused solely on cancer antibodies.
  • A nascent Genentech, pioneering antibody drugs for cancer.
  • The early-stage cancer therapeutics division of a future Bristol Myers Squibb.

AI Analysis | Feedback

```html
  • CTX-009: An investigational bispecific antibody in clinical trials for biliary tract, colorectal, and ovarian cancers.
  • CTX-471: A monoclonal antibody product candidate undergoing Phase I clinical trial for various solid tumors, including small cell lung cancer and melanoma.
  • CTX-8371: A bispecific inhibitor designed to target PD-1 and PD-L1 within the oncology area.
```

AI Analysis | Feedback

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Thomas J. Schuetz, MD, PhD Chief Executive Officer

Thomas J. Schuetz co-founded Compass Therapeutics in 2014. He has over 20 years of experience in oncology, biopharmaceutical drug development, and life science venture investing. Prior to Compass, he was a venture partner at OrbiMed, where he co-founded Audentes Therapeutics, which was later acquired by Astellas. While at OrbiMed, he was involved in investments in and served as a director for Enobia Pharma (sold to Alexion), Relypsa (sold to Galenica), and Arteaus Therapeutics (sold to Eli Lilly). His previous roles also include chief medical officer of Therion Biologics Corporation and vice president of clinical affairs at Transkaryotic Therapies, a company acquired by Shire.

Barry Shin, JD, MBA Chief Financial Officer

Barry Shin was appointed Chief Financial Officer effective December 9, 2024. He brings over two decades of experience in the biopharmaceutical sector, having served as a public company executive, investment banker, and corporate attorney. Most recently, he was Executive Vice President, Chief Operating Officer & Chief Financial Officer at Trevena, Inc. Previously, Mr. Shin was a Managing Director in the Healthcare Investment Banking Groups at Mizuho Securities and Guggenheim Securities, and also held a position at Piper Sandler.

Arjun Prasad, MBA, MPH Chief Commercial Officer

Arjun Prasad was appointed Chief Commercial Officer effective January 1, 2026. He has over 15 years of commercial experience in biotech and large pharma. Before joining Compass, Mr. Prasad served as Chief Commercial Officer at Servier Pharmaceuticals. His experience also includes leadership roles at Agios Pharmaceuticals and Genentech, and he has been involved in over 10 oncology product launches.

Cynthia Sirard, MD Chief Medical Officer

Cynthia Sirard was appointed Chief Medical Officer effective January 1, 2026. Prior to Compass, she was Chief Medical Officer at Leap Therapeutics. Dr. Sirard also has clinical development leadership experience from her time at Sanofi and Genzyme. She is a gastrointestinal-focused medical oncologist who trained at Harvard Medical School's Beth Israel Deaconess Medical Center.

AI Analysis | Feedback

The key risks to Compass Therapeutics (CMPX), a clinical-stage oncology-focused biopharmaceutical company, are primarily centered around the success of its drug development pipeline, financial sustainability, and market competition.

  1. Clinical Trial Failure and Regulatory Approval: As a clinical-stage company, Compass Therapeutics' viability is heavily dependent on the successful completion of its clinical trials and obtaining regulatory approvals for its product candidates. The drug development process is lengthy, expensive, and inherently unpredictable, with a high rate of failure at various stages. For instance, historically, only a small percentage of developmental candidates successfully progress through Phase 2 and Phase 3 trials. The company's lead product candidate, CTX-009, is in Phase II/III trials, and the story could change quickly if these key trials disappoint. Furthermore, even if trials are successful, the regulatory approval processes by authorities like the FDA are time-consuming and uncertain, and failure to obtain approval would materially harm the business.
  2. Funding and Cash Burn: Compass Therapeutics consistently incurs significant net losses due to substantial research and development expenditures. For example, the company reported a net loss of US$66.49 million in 2025. This necessitates a continued reliance on external financing, often through equity offerings, which can lead to dilution for existing shareholders. While the company had approximately $209 million in cash and marketable securities as of December 31, 2025, expected to fund operations into 2028, the ongoing cash burn and the need to secure additional funding to advance its pipeline remain a central risk.
  3. Competition: The biotechnology and pharmaceutical industries are highly competitive. Compass Therapeutics faces significant competition from other companies developing similar antibody-based therapeutics and oncology treatments. The ability to compete effectively against established and emerging players is crucial for the company's operating results and the market acceptance of any approved products.

AI Analysis | Feedback

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Compass Therapeutics, Inc. develops antibody-based therapeutics for various human diseases, primarily focusing on oncology. The addressable markets for its main products are detailed below:

CTX-009

  • Biliary Tract Cancers: The global biliary tract cancer market size is projected to reach approximately $1.01 billion by 2030. Another estimate indicates the global market size is expected to grow from USD 0.675 billion in 2024 to USD 1.067 billion by 2035. The total market size for biliary tract cancer in the 7 Major Markets (7MM: United States, EU4 (Germany, Spain, Italy, and France), United Kingdom, and Japan) was approximately USD 1.16 billion in 2024. In the United States alone, the market was approximately USD 700 million in 2024.
  • Colorectal Cancer: The global colorectal cancer market size was valued at approximately $13 billion in 2023 and is anticipated to reach $20 billion by the end of 2032. Another report estimates the global market to be valued at USD 13.74 billion in 2025 and reach USD 19.08 billion by 2032. The total colorectal cancer market size across the 7MM was approximately USD 13,000 million in 2023. North America held a significant share, accounting for about 64.3% of the global market size in 2023.
  • Ovarian Cancer: The global ovarian cancer drugs market generated USD 3,611.0 million in revenue in 2023 and is expected to reach USD 5,654.6 million by 2030. Another source reported the global ovarian cancer market size to be USD 3.5 billion in 2023, with a projection to reach approximately USD 6.5 billion by 2032. The ovarian cancer market size in the 7MM is expected to grow from USD 3,012 million in 2025 to USD 5,703 million in 2034. North America was the largest revenue-generating market in 2023, accounting for over 40% of the global market share. The US alone accounted for nearly USD 1,922 million in 2024 in the 7MM.

CTX-471

  • Small Cell Lung Cancer: The global small cell lung cancer therapeutics market size is valued at USD 7.25 billion in 2025 and is predicted to increase to approximately USD 22.86 billion by 2035. Another projection indicates the global market will grow from USD 6.91 billion in 2025 to USD 12.75 billion by 2031. The small cell lung cancer market in the 7MM reached a value of USD 8.9 billion in 2024 and is expected to reach USD 23.0 billion by 2035. The U.S. small cell lung cancer treatment market is estimated to be valued at USD 527.0 million in 2025 and is anticipated to reach USD 1.5 billion by 2035.
  • Melanoma: The global melanoma therapeutics market size was valued at USD 4.62 billion in 2024, is predicted to be USD 5.32 billion in 2025, and is expected to be worth USD 17.30 billion by 2033. Other estimates for the global market size include USD 5.83 billion in 2024, reaching USD 10.26 billion by 2030, and USD 7.39 billion in 2025, reaching around USD 17.93 billion by 2034. North America accounted for the largest share of the global melanoma therapeutics market, leading with a 41% market share in 2024. The U.S. melanoma therapeutics market was valued at USD 0.52 billion in 2023 and is expected to reach USD 1.14 billion by 2032.

CTX-8371

  • PD-1 and PD-L1 Inhibitors (Oncology): The global PD-1 and PD-L1 inhibitors market size is forecast to increase by USD 49.3 billion at a compound annual growth rate (CAGR) of 18.3% between 2023 and 2028. The market size was valued at USD 49.15 billion in 2024 and is poised to grow to USD 209.83 billion by 2033. Another report estimates the market size at USD 63.73 billion in 2025, expected to reach USD 145.56 billion by 2030. North America currently dominates the global PD-1/PD-L1 inhibitors market, accounting for 43.21% of the revenue in 2025.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Compass Therapeutics (CMPX) over the next 2-3 years:

  1. Potential Commercialization of Tovecimig (CTX-009) in Biliary Tract Cancer (BTC): Compass Therapeutics' lead investigational bispecific antibody, tovecimig (CTX-009), is in a Phase 2/3 clinical trial for biliary tract cancers. The company anticipated pivotal progression-free survival and overall survival analyses from the COMPANION-002 study in late first quarter 2026. Tovecimig met its primary efficacy endpoint in April 2025, and Compass Therapeutics aims to file with regulators later in 2026. Successful regulatory approval and subsequent launch in this market, estimated to be around $1.4 billion annually in the U.S., would be a significant driver of revenue.
  2. Expansion of Tovecimig (CTX-009) into Additional Indications: Beyond biliary tract cancer, tovecimig is also being developed for other indications. A Phase 2 study in patients with DLL4-positive colorectal cancer was expected to initiate in mid-2025, with additional Phase 2 monotherapy data in metastatic colorectal cancer showcased at the 2026 ASCO GI Cancers Symposium, demonstrating differentiated activity. Success in expanding the approved indications for tovecimig would broaden its market reach and revenue potential.
  3. Advancement and Potential Commercialization of CTX-471: CTX-471, a monoclonal antibody, is in Phase I clinical trials for solid tumors. A Phase 2 trial of CTX-471 in patients with tumors expressing NCAM (CD56) is expected to begin in the first quarter of 2026. [cite: BACKGROUND, 20] Promising clinical responses and a correlation between NCAM expression and disease control have been observed in earlier studies, positioning CTX-471 as a potential revenue contributor if clinical development continues positively.
  4. Progression of CTX-8371 through Clinical Trials: CTX-8371, a bispecific inhibitor targeting PD-1 and PD-L1, is undergoing a Phase 1 clinical trial. Preliminary data was expected in the second half of 2025, and encouraging early clinical signals, including durable responses in triple-negative breast cancer and Hodgkin lymphoma, have led to cohort expansions in these areas. [cite: BACKGROUND, 13, 17, 25] Results from the fifth cohort are anticipated to be presented at a major medical conference in the first half of 2026. Continued positive data and advancement to later-stage trials or accelerated pathways could pave the way for future revenue.
  5. Initiation of CTX-10726 Clinical Trials: Compass Therapeutics is advancing CTX-10726, a novel PD-1 x VEGF-A bispecific antibody, with an Investigational New Drug (IND) application expected by the end of 2025 and initial proof-of-concept clinical data anticipated in 2026. The company planned to initiate a Phase 1 study of CTX-10726 in the first quarter of 2026. Preclinical data indicating superior tumor control compared to a competitor suggests significant potential for this new product candidate to contribute to future revenue if clinical development is successful.

AI Analysis | Feedback

Capital Allocation Decisions for Compass Therapeutics (CMPX)

Share Issuance

  • Compass Therapeutics' shares outstanding have shown consistent growth, increasing from 61.69 million in 2021 to 180.09 million by March 2026.
  • In August 2025, Compass Therapeutics priced a $120 million stock offering.

Inbound Investments

  • As of the latest reports, 200 institutional owners hold a total of 163,725,703 shares in Compass Therapeutics.
  • Significant institutional shareholders include Tang Capital Management Llc, Orbimed Advisors Llc, and BlackRock, Inc.
  • BlackRock, Inc. reported a 5.2% passive stake in the company as of January 21, 2026.

Capital Expenditures

  • Capital expenditures in the most recent quarter (Q4 2025) totaled -$0.007 million USD.
  • For the full fiscal year 2025, capital expenditures were reported as $25,000.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Compass Therapeutics Earnings Notes12/16/2025
Title
0ARTICLES

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SATLSatellogic0.7-52.5%169.5%
AXTIAXT3.7-50.2%329.0%
LUNRIntuitive Machines2.3-50.0%17.9%
FLYFirefly Aerospace4.0-49.5%11.7%
TMCRMetals Royalty0.4-47.5%-48.4%
BKSYBlackSky Technology0.9-47.3%34.5%
SOCSable Offshore1.1-46.2%-12.1%
HTZHertz Global0.9-43.4%-41.6%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Peers to compare with:

Financials

CMPXXNCRREGNAMGNMGNXZYMEMedian
NameCompass .Xencor Regenero.Amgen Macrogen.Zymeworks 
Mkt Price2.0214.45623.43351.434.7824.3019.38
Mkt Cap0.41.164.8189.80.31.81.5
Rev LTM09714,92037,22015781127
Op Inc LTM-75-2123,84310,568-64-114-69
FCF LTM-53-1893,7918,597-72-78-62
FCF 3Y Avg-47-1593,5618,870-86-78-62
CFO LTM-53-1875,01310,756-70-75-62
CFO 3Y Avg-47-1514,56810,348-84-75-61

Growth & Margins

CMPXXNCRREGNAMGNMGNXZYMEMedian
NameCompass .Xencor Regenero.Amgen Macrogen.Zymeworks 
Rev Chg LTM-100.0%-23.5%5.9%9.1%2.0%-13.0%-5.5%
Rev Chg 3Y Avg-8.6%6.4%12.5%61.3%-5.5%8.6%
Rev Chg Q--86.2%19.0%5.8%57.5%-91.1%5.8%
QoQ Delta Rev Chg LTM--22.5%4.0%1.3%5.1%-23.3%1.3%
Op Inc Chg LTM-21.6%-27.1%-2.4%41.9%36.0%-5.8%-4.1%
Op Inc Chg 3Y Avg-19.4%-11.2%-6.3%8.8%-5.0%-54.3%-8.8%
Op Mgn LTM--217.9%25.8%28.4%-40.5%-140.2%-40.5%
Op Mgn 3Y Avg--140.9%28.1%24.6%-176.2%-183.4%-140.9%
QoQ Delta Op Mgn LTM--76.6%-0.1%3.7%8.2%-53.0%-0.1%
CFO/Rev LTM--191.6%33.6%28.9%-44.5%-92.7%-44.5%
CFO/Rev 3Y Avg--126.4%32.6%30.7%-115.3%-106.0%-106.0%
FCF/Rev LTM--194.0%25.4%23.1%-45.6%-95.4%-45.6%
FCF/Rev 3Y Avg--132.0%25.5%26.4%-118.4%-110.8%-110.8%

Valuation

CMPXXNCRREGNAMGNMGNXZYMEMedian
NameCompass .Xencor Regenero.Amgen Macrogen.Zymeworks 
Mkt Cap0.41.164.8189.80.31.81.5
P/S-11.24.35.11.922.35.1
P/Op Inc-5.0-5.116.918.0-4.8-15.9-4.9
P/EBIT-5.0-7.712.516.1-5.3-16.3-5.1
P/E-5.5-6.314.724.3-4.3-17.7-4.9
P/CFO-7.1-5.812.917.6-4.3-24.1-5.1
Total Yield-18.1%-15.9%7.4%6.9%-23.2%-5.7%-10.8%
Dividend Yield0.0%0.0%0.6%2.7%0.0%0.0%0.0%
FCF Yield 3Y Avg-12.6%-17.1%4.3%5.2%-47.3%-7.5%-10.1%
D/E0.00.20.00.30.10.00.1
Net D/E-0.5-0.2-0.10.2-0.4-0.2-0.2

Returns

CMPXXNCRREGNAMGNMGNXZYMEMedian
NameCompass .Xencor Regenero.Amgen Macrogen.Zymeworks 
1M Rtn-2.4%27.8%-2.4%3.6%5.5%-5.1%0.6%
3M Rtn-63.2%16.5%-16.7%0.0%50.8%0.3%0.2%
6M Rtn-60.7%-6.5%-20.2%6.8%195.1%-9.5%-8.0%
12M Rtn-22.9%74.7%20.0%30.5%256.7%89.5%52.6%
3Y Rtn-35.9%-43.4%-19.4%69.7%-16.7%199.6%-18.1%
1M Excs Rtn-0.9%29.3%-0.9%5.1%7.1%-3.6%2.1%
3M Excs Rtn-74.3%9.3%-28.0%-10.6%62.9%-9.3%-9.9%
6M Excs Rtn-67.2%-14.7%-26.3%1.2%211.0%-18.4%-16.6%
12M Excs Rtn-42.6%49.7%0.3%10.7%240.0%72.7%30.2%
3Y Excs Rtn-101.5%-112.3%-86.6%0.9%-88.8%132.4%-87.7%

Comparison Analyses

null

Financials

$ Mil | FY: 12/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
Period End3/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/2023
Filing Date5/5/20263/5/202611/5/20258/11/20255/8/20252/27/202511/12/20248/12/20245/13/20243/21/202411/9/20238/3/2023
Key Financials Quarterly            
Total Revenue000000010000
Ebitda-20-18-15-21-18-16-12-15-12-15-11-13
Operating Income-20-18-16-21-18-17-12-15-13-15-12-13
Net Income-18-16-14-20-17-15-10-13-11-13-10-11
EPS-0.10-0.09-0.08-0.14-0.12-0.11-0.08-0.10-0.08-0.10-0.08-0.09
Key Financials TTM            
Total Revenue TTM000011110000
Ebitda TTM-74-71-70-66-60-55-54-53-52-48-46-47
Operating Income TTM-75-73-71-68-62-57-55-55-53-50-48-49
Net Income TTM-68-66-66-62-55-49-48-47-45-42-41-43
Growth Rates Quarterly            
Total Revenue Growth----100.0%--------
EBITDA Growth-13.2%-8.7%-31.2%-42.0%-43.0%-8.6%-2.7%-13.3%-33.3%-20.3%5.4%-51.5%
Operating Income Growth-13.0%-8.5%-29.2%-40.0%-40.7%-7.7%-2.6%-12.8%-31.5%-19.4%5.3%-48.4%
Net Income Growth-10.1%-4.5%-36.0%-52.0%-54.2%-12.1%-5.2%-15.9%-37.6%-15.7%16.8%-32.8%
Margins Quarterly            
EBITDA Margin--------1715.2%----
Operating Income Margin--------1770.0%----
Net Income Margin--------1538.4%----
Cash & Debt            
Total Cash195209220101113127135146156152164169
Total Debt1010101067711222
Net Debt / (Cash)-185-199-210-91-106-120-129-145-155-151-162-166
Cash Flows Quarterly            
FCF from Operations-17-13-11-12-13-9-11-11-14-12-6-10
Cash Flows TTM            
FCF from Operations TTM-53-49-45-45-44-45-48-43-42-41-39-44
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-18.0%-16.8%-15.2%-20.9%-18.6%-17.9%-13.6%-17.7%-15.6%-19.7%-15.9%-18.2%
Return on Invested Capital (ROIC) TTM            
ROIC TTM-16.7%-17.0%-17.2%-16.8%-16.0%-15.3%-15.4%-16.2%-16.3%-16.1%-15.9%-16.5%

Segment Financials

Revenue by Segment
$ Mil20252024
Research and development of drug candidates01
Total01


Net Income by Segment
$ Mil2025
Research and development of drug candidates-66
Total-66


Assets by Segment
$ Mil20242023202220212020
Research and development of drug candidates14015720015452
Total14015720015452


Price Behavior

Price Behavior
Market Price$2.02 
Market Cap ($ Bil)0.4 
First Trading Date11/02/2021 
Distance from 52W High-69.8% 
   50 Days200 Days
DMA Price$2.63$4.41
DMA Trenddowndown
Distance from DMA-23.3%-54.2%
 3M1YR
Volatility148.4%93.2%
Downside Capture292.82110.93
Upside Capture-170.5153.31
Correlation (SPY)16.0%15.6%
CMPX Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta2.512.671.781.611.171.52
Up Beta-4.553.402.442.331.431.30
Down Beta5.830.721.571.571.111.54
Up Capture553%-163%-90%-28%71%255%
Bmk +ve Days13283667141432
Stock +ve Days12243460132358
Down Capture278%669%264%188%94%111%
Bmk -ve Days7132757109318
Stock -ve Days7162760105357

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CMPX
CMPX-21.1%93.3%0.35-
Sector ETF (XLV)17.6%15.1%0.8716.1%
Equity (SPY)23.3%12.5%1.4015.6%
Gold (GLD)17.7%27.7%0.577.6%
Commodities (DBC)18.2%18.6%0.76-9.2%
Real Estate (VNQ)11.6%13.8%0.5612.9%
Bitcoin (BTCUSD)-40.6%42.4%-1.1111.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CMPX
CMPX-12.8%87.3%0.26-
Sector ETF (XLV)6.0%14.8%0.2218.9%
Equity (SPY)13.2%17.1%0.6019.8%
Gold (GLD)16.4%18.3%0.736.6%
Commodities (DBC)6.9%19.5%0.263.4%
Real Estate (VNQ)2.7%18.9%0.0418.7%
Bitcoin (BTCUSD)10.4%54.1%0.3913.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CMPX
CMPX-6.6%87.3%0.26-
Sector ETF (XLV)9.8%16.6%0.4818.9%
Equity (SPY)15.3%18.0%0.7319.8%
Gold (GLD)11.5%16.1%0.596.6%
Commodities (DBC)5.7%18.0%0.243.4%
Real Estate (VNQ)5.6%20.7%0.2318.7%
Bitcoin (BTCUSD)57.2%66.5%0.9713.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity33.3 Mil
Short Interest: % Change Since 51520267.2%
Average Daily Volume5.2 Mil
Days-to-Cover Short Interest6.4 days
Basic Shares Quantity186.4 Mil
Short % of Basic Shares17.8%

Earnings Returns History

Updated 6/11/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/20260.5%-5.7%8.2%
3/5/2026-2.8%-1.8%-4.2%
1/6/2026-1.6%4.4%26.9%
11/5/20250.8%22.2%45.9%
8/11/202523.7%10.0%28.9%
5/8/20251.1%13.6%42.0%
2/27/2025-1.7%-6.7%-29.3%
1/8/202530.1%72.7%144.8%
...
SUMMARY STATS   
# Positive9108
# Negative768
Median Positive3.7%11.2%35.5%
Median Negative-2.5%-6.2%-17.3%
Max Positive30.1%72.7%144.8%
Max Negative-6.4%-28.9%-30.7%
 Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/20260.5%-5.7%8.2%
3/5/2026-2.8%-1.8%-4.2%
1/6/2026-1.6%4.4%26.9%
11/5/20250.8%22.2%45.9%
8/11/202523.7%10.0%28.9%
5/8/20251.1%13.6%42.0%
2/27/2025-1.7%-6.7%-29.3%
1/8/202530.1%72.7%144.8%
11/12/2024-5.8%-28.9%-12.1%
8/12/20243.7%6.4%45.0%
5/13/2024-2.5%0.0%-23.8%
3/21/20245.7%-3.3%-30.7%
1/5/20245.2%14.2%-22.6%
11/9/2023-6.4%-14.0%1.2%
8/3/20231.5%0.4%-11.1%
5/4/2023-1.3%12.3%-1.8%
SUMMARY STATS   
# Positive9108
# Negative768
Median Positive3.7%11.2%35.5%
Median Negative-2.5%-6.2%-17.3%
Max Positive30.1%72.7%144.8%
Max Negative-6.4%-28.9%-30.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202503/05/202610-K
09/30/202511/05/202510-Q
06/30/202508/11/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/12/202410-Q
06/30/202408/12/202410-Q
03/31/202405/13/202410-Q
12/31/202303/21/202410-K
09/30/202311/09/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202203/15/202310-K
09/30/202211/09/202210-Q
06/30/202208/01/202210-Q
 Collapse to Preview
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202503/05/202610-K
09/30/202511/05/202510-Q
06/30/202508/11/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/12/202410-Q
06/30/202408/12/202410-Q
03/31/202405/13/202410-Q
12/31/202303/21/202410-K
09/30/202311/09/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202203/15/202310-K
09/30/202211/09/202210-Q
06/30/202208/01/202210-Q
03/31/202205/09/202210-Q
12/31/202103/18/202210-K
09/30/202111/12/202110-Q
06/30/202108/16/202110-Q
03/31/202104/30/202110-Q
12/31/202003/11/2021424B3
09/30/202011/09/2020S-1/A
06/30/202010/19/2020S-1

Insider Activity

Updated 4/29/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Schuetz, Thomas JCHIEF EXECUTIVE OFFICERDirectBuy52720252.1110,00021,10013,674,541Form
2Gordon, Carl LSee footnotesSell41120251.593,571,428  Form
3Orbimed, Advisors LlcSee footnotesSell41120251.593,571,428  Form
4Anderman, JonathanGen Counsel & Corporate SecDirectBuy40820251.5420,00030,80032,340Form
5Lerner, NeilCHIEF ACCOUNTING OFFICERDirectBuy40820251.4220,00028,400454,400Form
 Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Schuetz, Thomas JCHIEF EXECUTIVE OFFICERDirectBuy52720252.1110,00021,10013,674,541Form
2Gordon, Carl LSee footnotesSell41120251.593,571,428  Form
3Orbimed, Advisors LlcSee footnotesSell41120251.593,571,428  Form
4Anderman, JonathanGen Counsel & Corporate SecDirectBuy40820251.5420,00030,80032,340Form
5Lerner, NeilCHIEF ACCOUNTING OFFICERDirectBuy40820251.4220,00028,400454,400Form

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