BOSTON, March 5, 2026 — Leads & Copy — Compass Therapeutics, Inc. (Nasdaq: CMPX) has released its full financial results for 2025 and provided a business update.
The company’s lead asset, tovecimig, met the primary endpoint of overall response rate in the COMPANION-002 Phase 2/3 study for patients with biliary tract cancer, according to Dr. Thomas Schuetz, MD, PhD, Chief Executive Officer and Vice Chairman of the Board of Directors.
The analyses of progression-free survival and overall survival are expected to be reported in April after the prespecified event threshold of 80% overall survival events was reached in Q1 2026.
Compass’ CTX-8371, a PD-1 x PD-L1 checkpoint inhibitor, demonstrated clinical activity, with three responses in patients with solid tumors and hematologic malignancies. Expansion cohorts are now open and enrolling patients with triple-negative breast cancer and non-small cell lung cancer based on previously reported responses in these patients during the Phase 1 study of CTX-8371. A further expansion cohort of patients with Hodgkin lymphoma will begin shortly, based on an additional response in a patient with Hodgkin lymphoma.
The FDA cleared the IND application for CTX-10726, a PD-1 x VEGF-A bispecific antibody, and the Phase 1 study will be open for enrollment in Q1.
Bing Gong, PhD, has been promoted to Chief Scientific Officer. Gong joined Compass in 2015.
Compass Therapeutics reported $209 million in cash and marketable securities at the end of 2025, which is expected to fund operations into 2028.
Analyses of key secondary endpoints from the COMPANION-002 Phase 2/3 randomized study, including progression-free survival and overall survival, are expected in April.
The Phase 2 study of tovecimig in a broader set of patients with DLL4+ tumor types is expected to begin in mid-2026 after a comprehensive analysis of the complete data set from the COMPANION-002 trial.
The investigator sponsored trial of tovecimig in combination with gemcitabine, cisplatin, and durvalumab in patients with BTC (NCT05506943) is ongoing.
Cohort expansions for CTX-8371 are open for enrollment in patients with TNBC (n=28) and NSCLC (n=28) in the post-checkpoint inhibitor setting. Half of the patients with each tumor type will be dosed at 3.0 mg/kg and half will be dosed at 10.0 mg/kg. Initial data from these cohort expansions, as well as available data from the Phase 1 dose-escalation portion of the study, are expected to be presented at a major medical conference in the second quarter of 2026.
Based on a previously reported response in a patient with Hodgkin lymphoma, a third cohort (n=12) will be added to the expansion study in patients with HL, also at the 3.0 mg/kg and 10.0 mg/kg dose levels.
The Phase 1 multiple ascending dose-escalation study will include four doses (0.3, 1.0, 3.0, and 10.0 mg/kg) in a 3+3 format. The multi-center study will enroll patients with a prioritized set of solid tumor indications, including patients with locally advanced, unresectable or metastatic renal cell carcinoma, gastroesophageal cancer, hepatocellular carcinoma, and endometrial cancer, in whom standard of care therapies have failed.
Initiation of the Phase 2 trial of CTX-471 in patients with tumors expressing NCAM (CD56) is expected in mid-2026.
Net loss for the year ended December 31, 2025, was $66.5 million or $0.42 per common share, compared to $49.4 million or $0.36 per common share for the same period in 2024.
R&D expenses were $56.0 million for the year ended December 31, 2025, compared to $42.3 million for the same period in 2024. The increase was primarily attributable to an increase in manufacturing expenses related to tovecimig of $7.7 million and manufacturing expenses related to CTX-10726 of $5.9 million.
G&A expenses were $16.9 million for the year ended December 31, 2025, compared to $15.1 million for the same period in 2024. The increase was primarily driven by pre-commercialization expenses of $0.7 million and advisory fees of $0.5 million.
As of December 31, 2025, cash and marketable securities were $209 million compared to $127 million as of December 31, 2024, with an anticipated cash runway into 2028. During 2025, $49 million of net cash was used in operating activities, and this was offset by net proceeds from an underwritten public offering of $129 million.
Compass Therapeutics, Inc. is headquartered in Boston, Massachusetts.
CTX-10726 is a tetravalent PD-1 x VEGF-A bispecific antibody discovered and engineered at Compass.
The company was founded in 2014.
Source: Compass Therapeutics
