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CMPX

Compass Therapeutics, Inc.

CMPX

Compass Therapeutics, Inc. • NASDAQ
$5.79 ▲ 7.42% (+0.40)
Market Cap $800.68 M
52w High $5.84
52w Low $1.33
Dividend Yield 0%
P/E -12.87
Volume 1.53M
Outstanding Shares 138.29M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $15.817M ▼ $-14.259M ▲ 0% $-0.1 ▲ $-14.24M ▲
Q2-2025 $0 $21.066M ▲ $-19.881M ▼ 0% $-0.14 ▼ $-20.699M ▼
Q1-2025 $0 $17.966M ▲ $-16.633M ▼ 0% $-0.12 ▼ $-17.602M ▼
Q4-2024 $0 $16.574M ▲ $-15.033M ▼ 0% $-0.11 ▼ $-16.215M ▼
Q3-2024 $0 $12.239M $-10.481M 0% $-0.076 $-11.774M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $219.895M ▲ $231.259M ▲ $21.646M ▼ $209.613M ▲
Q2-2025 $100.949M ▼ $116.698M ▼ $23.491M ▲ $93.207M ▼
Q1-2025 $112.635M ▼ $131.451M ▼ $21.172M ▲ $110.279M ▼
Q4-2024 $126.722M ▼ $140.403M ▼ $15.171M ▲ $125.232M ▼
Q3-2024 $135.402M $149.151M $10.753M $138.398M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-14.259M ▲ $-10.849M ▲ $-95.156M ▼ $129.361M ▲ $23.356M ▲ $0 ▲
Q2-2025 $-19.881M ▼ $-11.832M ▲ $-6.36M ▼ $0 ▲ $-18.192M ▼ $-11.832M ▲
Q1-2025 $-16.633M ▼ $-13.208M ▼ $11.588M ▼ $-815K ▼ $-2.435M ▼ $-13.226M ▼
Q4-2024 $-15.033M ▼ $-9.162M ▲ $15.37M ▼ $-94K ▼ $6.114M ▼ $-9.162M ▲
Q3-2024 $-10.479M $-11.051M $29.018M $-2K $17.965M $-11.095M

Five-Year Company Overview

Income Statement

Income Statement Compass Therapeutics is still a pure research-stage biotech: it has essentially no product revenue yet and runs consistent operating losses. These losses appear relatively steady over time rather than rapidly escalating, which reflects a focused but ongoing investment in clinical development rather than heavy commercial spending. Net results are negative each year, which is typical for early-stage drug developers that have not yet brought a therapy to market or signed large partnership deals. The key point: this is a company entirely driven by R&D progress, not by current earnings or sales.

Balance Sheet

Balance Sheet The balance sheet shows a business that is asset-light but largely equity-funded and only lightly reliant on debt. Cash and marketable securities are the main assets, and they represent the lifeblood of the company as it funds clinical trials. Reported equity is positive and meaningfully larger than its borrowings, indicating a conservative capital structure. The separate commentary about a cash runway into 2027 suggests that, in practice, the company currently holds a sizeable cash cushion relative to its spending rate. Overall, financial leverage appears low, but the long-term health of the balance sheet will depend on future trial outcomes and potential financing or partnership deals once the existing cash runway narrows.

Cash Flow

Cash Flow Cash flows are consistently negative from operations, reflecting ongoing research, clinical trials, and overhead, with no offsetting revenue stream yet. The burn rate has been fairly controlled and does not appear to be accelerating dramatically, which suggests disciplined spending. There is essentially no capital spending on heavy equipment or facilities, so almost all cash use is tied directly to R&D and operating expenses. The separate disclosure that current funds should last into 2027 implies that management has calibrated spending to match its available cash. Still, like most clinical-stage biotechs, the company ultimately depends on either successful partnering, future capital raises, or eventual product approvals to sustain itself once this runway is used.

Competitive Edge

Competitive Edge Competitively, Compass sits in a crowded and high-stakes field—oncology biologics—yet it has carved out a distinct niche. Its strength lies in proprietary platforms for designing multi-specific antibodies that can hit multiple cancer pathways at once, potentially addressing resistance seen with older, single-target drugs. The focus on combining anti-angiogenesis with immune-oncology targets gives it a clear scientific identity. A pipeline with several differentiated candidates at various stages helps spread scientific risk across multiple shots on goal. However, the company competes against very large pharmaceutical firms and other specialized biotechs with deep resources, and the space is full of similar concepts. Any edge will hinge on delivering clearly better clinical outcomes, manageable safety, and manufacturability compared to alternatives. At this stage, its moat is more about unique know-how and platforms than about entrenched market position, since no products are commercial yet.

Innovation and R&D

Innovation and R&D Innovation is the heart of Compass’s story. Its technology platforms are designed to quickly generate and test complex antibodies that can target multiple cancer mechanisms at the same time, which may offer advantages in hard-to-treat tumors. The lead program, tovecimig, aims to block both blood-vessel growth and a key signaling pathway in tumors, and already has regulatory fast-track status in a difficult cancer type, which signals medical need and regulatory interest. Other pipeline assets are aimed at supercharging immune responses or combining checkpoint inhibition with anti-angiogenesis in new ways. The company is steadily moving programs through early and mid-stage trials, while also preparing new candidates for first-in-human studies and planning biomarker-driven trials that could refine patient selection. Overall, R&D appears focused and scientifically coherent, but the usual biotech uncertainties apply: clinical outcomes, safety profiles, and regulatory views remain the major unknowns.

Summary

Compass Therapeutics is a classic clinical-stage oncology biotech: no revenue yet, persistent but controlled losses, and operations funded by an existing cash pool that currently looks adequate for several years of planned trials. Its value proposition rests almost entirely on its antibody engineering platforms and pipeline rather than on current financial performance. The company’s strengths are its proprietary multi-specific technology, a focused strategy in angiogenesis and immune-oncology, and multiple clinical assets that diversify development risk. The main risks are the binary nature of clinical and regulatory outcomes, intense competition from larger and better-funded players, and the eventual need for new capital or partnerships if trials run longer or cost more than expected. In essence, this is an innovation-driven, high-uncertainty profile where future clinical data and partnering activity will matter far more than near-term earnings metrics.

NEWS

November 25, 2025 · 8:00 AM UTC

Compass Therapeutics to Participate in Upcoming December Investor Events

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November 5, 2025 · 7:30 AM UTC

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

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November 4, 2025 · 9:00 AM UTC

Compass Therapeutics Presents Preclinical Data on CTX-10726, a Differentiated PD-1 x VEGF-A Bispecific Antibody, at the 40th Society for Immunotherapy of Cancer (SITC) Annual Meeting

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November 3, 2025 · 8:00 AM UTC

Compass Therapeutics to Participate in Upcoming November Investor Events

Read more