Compass Therapeutics Announces Pricing of Upsized $120 Million Public Offering
Rhea-AI Summary
Compass Therapeutics (NASDAQ: CMPX), a clinical-stage oncology biopharmaceutical company, has announced the pricing of an upsized public offering totaling $120 million. The offering consists of 33,290,000 shares of common stock priced at $3.00 per share and pre-funded warrants to purchase 6,710,000 shares at $2.9999 per warrant.
The underwriters have a 30-day option to purchase up to 6 million additional shares. The offering is expected to close around August 14, 2025. The company plans to use the proceeds for commercial readiness preparations, research and clinical development of product candidates, and general corporate purposes.
Positive
- None.
Negative
- Substantial dilution for existing shareholders with 40 million new shares
- Offering price of $3.00 may represent a discount to market price
- Additional dilution possible through 6 million share underwriter option
News Market Reaction
On the day this news was published, CMPX declined 2.21%, reflecting a moderate negative market reaction. Argus tracked a trough of -29.4% from its starting point during tracking. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $10M from the company's valuation, bringing the market cap to $462M at that time. Trading volume was elevated at 2.0x the daily average, suggesting increased selling activity.
Data tracked by StockTitan Argus on the day of publication.
BOSTON, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Compass Therapeutics, Inc. (“Compass”) (Nasdaq: CMPX), a clinical-stage, oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics to treat multiple human diseases, today announced the pricing of an underwritten public offering of 33,290,000 shares of its common stock at a price to the public of
Compass intends to use the net proceeds from the offering to conduct initial preparations for commercial readiness, to fund research and clinical development of its product candidates, and for general corporate purposes.
Jefferies, Piper Sandler and Guggenheim Securities are acting as joint active bookrunning managers for the offering. Raymond James, Wedbush PacGrow and H.C. Wainwright & Co. are acting as lead managers for the offering. Ladenburg Thalmann and D. Boral Capital are acting as co-managers for the offering.
A shelf registration statement on Form S-3 relating to the securities offered in the public offering described above was filed with the Securities and Exchange Commission (the “SEC”) on August 30, 2024 and declared effective by the SEC on September 6, 2024. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus, when available, may also be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; Piper Sandler & Co. by mail at 350 North 5th Street, Suite 1000, Minneapolis, Minnesota 55401 or by email at prospectus@psc.com; and Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, telephone: (212) 518-9544, email: GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Compass Therapeutics
Compass Therapeutics, Inc. is a clinical-stage oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics to treat multiple human diseases. The company’s scientific focus is on the relationship between angiogenesis, the immune system, and tumor growth. Compass has built a robust pipeline of novel product candidates designed to target multiple critical biological pathways required for an effective anti-tumor response. These include modulation of the microvasculature via angiogenesis-targeted agents, induction of a potent immune response via activators on effector cells in the tumor microenvironment, and alleviation of immunosuppressive mechanisms used by tumors to evade immune surveillance. The company plans to advance its product candidates through clinical development as both standalone therapies and in combination with proprietary pipeline antibodies based on supportive clinical and nonclinical data. The company was founded in 2014 and is headquartered in Boston, Massachusetts.
Forward-Looking Statements
Various statements in this release concerning the timing and completion of the public offering on the anticipated terms or at all may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, as amended, and other federal securities laws. All such forward-looking statements are based on management’s current expectations of future events and are subject to a number of substantial risks and uncertainties, many of which are outside Compass’s control, that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include fluctuations in Compass’s stock price, changes in market conditions, the final terms of the public offering and satisfaction of customary closing conditions related to the public offering, as well as those risks more fully discussed in the section entitled “Risk Factors” in the prospectus supplement and registration statement referenced above and in Compass’s Annual Report on Form 10-K for the year ended December 31, 2024, filed on February 27, 2025 with the SEC and subsequent reports with the SEC. There can be no assurance that Compass will be able to complete the public offering on the anticipated terms. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and Compass undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.
Investor Contact
ir@compasstherapeutics.com
Media Contact
Anna Gifford, Chief of Staff
media@compasstherapeutics.com
617-500-8099
FAQ
What is the size and price of Compass Therapeutics (CMPX) public offering in August 2025?
How will Compass Therapeutics use the proceeds from its $120M offering?
When will Compass Therapeutics' public offering close?
Who are the underwriters for Compass Therapeutics' August 2025 offering?
What is the additional share purchase option for CMPX's underwriters?
