Compass Therapeutics Provides Corporate Update

Rhea-AI Summary

Compass Therapeutics (NASDAQ: CMPX) provided a corporate update on January 6, 2026, reporting pipeline progress, leadership hires, upcoming data readouts, and a cash position. Key items include PFS and OS analyses for tovecimig on track for late Q1 2026, a planned Phase 2 DLL4+ basket study following COMPANION-002 analysis, and a 5% ORR (2/40) for tovecimig monotherapy in heavily pretreated colorectal cancer

For CTX-8371, cohort expansions in TNBC and NSCLC (n=28 each) are open with dose levels 3.0 and 10.0 mg/kg; a third confirmed response in Hodgkin lymphoma was reported. CTX-10726 Phase 1 is expected to start in Q1 2026. Estimated cash and marketable securities were $209 million as of December 31, 2025, providing runway into 2028.

Positive

• $209M cash and marketable securities as of Dec 31, 2025
• Key secondary analyses (PFS, OS) for tovecimig on track for late Q1 2026
• Tovecimig showed ORR 5% (2/40) in heavily pretreated metastatic CRC
• CTX-8371 cohort expansions open in TNBC and NSCLC (n=28 each) with defined dosing

Negative

• Tovecimig monotherapy response rate of 5% remains low in absolute terms
• Tovecimig treatment-emergent hypertension noted as the most common adverse event
• COMPANION-002 results rely on forthcoming analyses (PFS/OS) rather than finalized outcomes

News Market Reaction

-1.60%

16 alerts

-1.60% News Effect

+7.7% Peak in 21 min

-$16M Valuation Impact

$991M Market Cap

0.3x Rel. Volume

On the day this news was published, CMPX declined 1.60%, reflecting a mild negative market reaction. Argus tracked a peak move of +7.7% during that session. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $16M from the company's valuation, bringing the market cap to $991M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Cash & securities: $209 million CRC ORR: 5% (2/40 patients) CRC sample size: 40 patients +5 more

8 metrics

Cash & securities $209 million Estimated as of Dec 31, 2025; runway into 2028

CRC ORR 5% (2/40 patients) Tovecimig Phase 2 monotherapy in 3rd/4th-line metastatic CRC

CRC sample size 40 patients Advanced, metastatic CRC, 3rd- and 4th-line settings

Prior bevacizumab use ~51% with ≥2 prior rounds Tovecimig CRC Phase 2 population

Comparator ORR range 1.0–1.5% Response rates for other anti-VEGF agents in same CRC setting

TNBC cohort size 28 patients CTX-8371 Phase 1 cohort expansion in TNBC

NSCLC cohort size 28 patients CTX-8371 Phase 1 cohort expansion in NSCLC

CTX-8371 dose levels 3.0 mg/kg and 10.0 mg/kg Dosing in TNBC and NSCLC cohort expansions

Market Reality Check

Price: $5.58 Vol: Volume 1,591,961 vs 20-da...

normal vol

$5.58 Last Close

Volume Volume 1,591,961 vs 20-day average 1,759,380, indicating slightly below-normal trading activity ahead of the update. normal

Technical Shares at $4.99 are trading above the $3.26 200-day moving average, reflecting a pre-news uptrend despite the -3.48% move.

Peers on Argus

CMPX fell 3.48% with several biotech peers also down: XNCR -4.8%, ORKA -4.17%, V...

CMPX fell 3.48% with several biotech peers also down: XNCR -4.8%, ORKA -4.17%, VSTM -5.76%, TYRA -1.87%, and BCAX -1.83%, suggesting sector-wide weakness alongside company-specific news.

Common Catalyst Multiple oncology/biotech names are active around the J.P. Morgan Healthcare Conference, with at least one peer also issuing a related conference update.

Historical Context

5 past events · Latest: Dec 17 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 17	Conference participation	Neutral	-5.3%	J.P. Morgan 2026 Healthcare Conference presentation and investor meetings announced.
Nov 25	Investor events	Neutral	+1.2%	December investor conference appearances with webcast and one-on-one meeting availability.
Nov 05	Earnings & pipeline	Positive	+0.8%	Q3 2025 results, strong cash of <b>$220M</b>, and tovecimig endpoint success update.
Nov 04	Preclinical data	Positive	+1.3%	Preclinical CTX-10726 data showing superior anti-tumor activity vs comparators.
Nov 03	Conference participation	Neutral	+0.0%	Multiple November healthcare conference presentations with webcasts and replays.

Pattern Detected

Recent news flow has focused on conferences and pipeline progress, with modestly positive price reactions to clinical and earnings updates and mixed reactions to conference participation alone.

Recent Company History

Over the last several months, Compass highlighted conference participation, earnings, and pipeline milestones. On Nov 5, 2025, Q3 results showed $220 million in cash and a met primary endpoint for tovecimig, with a small positive price reaction. Preclinical CTX-10726 data on Nov 4, 2025 also coincided with gains. Conference-only announcements in November and December produced mixed, often muted moves. Today’s broader corporate update extends prior guidance on tovecimig, CTX-8371, and CTX-10726 while reaffirming multi-year cash runway.

Market Pulse Summary

This announcement outlines broad pipeline momentum, including Phase 2/3 survival analyses for toveci...

Analysis

This announcement outlines broad pipeline momentum, including Phase 2/3 survival analyses for tovecimig, CTX-8371 cohort expansions in TNBC and NSCLC, and an upcoming Phase 1 for CTX-10726, alongside an estimated $209 million cash balance supporting runway into 2028. Recent history shows steady progress on clinical and preclinical programs. Investors may focus on the timing and quality of the late Q1 2026 survival data and subsequent updates across indications when assessing future risk and opportunity.

Key Terms

progression-free survival, overall survival, bispecific antibody, triple negative breast cancer, +4 more

8 terms

progression-free survival medical

"The analyses of progression-free survival (PFS) and overall survival (OS) remain..."

Progression-free survival is the length of time during and after a treatment that a patient's disease does not get worse, measured from the start of treatment until the disease shows measurable signs of progression or the patient dies. Investors care because longer progression-free survival in clinical trials often signals that a drug is effective, improving chances of regulatory approval, market adoption, and revenue potential—think of it as a stopwatch showing how long a therapy can keep the illness at bay.

overall survival medical

"The analyses of progression-free survival (PFS) and overall survival (OS) remain..."

Overall survival is the average or median length of time patients remain alive after starting a treatment or entering a clinical study, measured regardless of cause of death. Investors care because it is a clear, hard measure of a therapy’s real-world benefit — like timing how long a new battery actually runs — and strong improvements in overall survival can drive regulatory approval, market adoption and revenue potential.

bispecific antibody medical

"tovecimig (DLL4 x VEGF-A bispecific antibody) in patients with advanced..."

A bispecific antibody is a specially designed protein that can attach to two different targets at the same time. Think of it as a custom-made connector that brings two things together—such as a disease cell and an immune system component—helping the body fight illnesses more effectively. For investors, understanding bispecific antibodies is important because they represent innovative therapies that could lead to new treatments and potentially lucrative market opportunities.

triple negative breast cancer medical

"deep partial response in a patient with triple negative breast cancer (TNBC)..."

Triple negative breast cancer is a type of breast cancer that lacks three common markers used to identify and target the disease, making it more challenging to treat. It tends to grow and spread more quickly than other forms, which can lead to more aggressive outcomes. Its complexity can impact medical research and treatment developments, influencing investor interest in healthcare companies working on new therapies.

non-small cell lung cancer medical

"cohort expansions are now open for enrollment in patients with TNBC and non-small cell lung cancer (NSCLC)."

A broad category of lung tumors that grow from the cells lining the airways and make up the majority of lung cancer cases; it includes several subtypes that behave and respond to treatment differently, like different models of the same car family. It matters to investors because its large patient population and variety of treatment options — surgery, traditional chemo, targeted drugs and immunotherapies — create major markets where clinical trial results, drug approvals or changing treatment guidelines can quickly affect a company’s revenue and stock value.

treatment-emergent adverse event medical

"hypertension as the most common treatment-emergent adverse event, all of which..."

An event is called a treatment-emergent adverse event when a new or worsening unwanted health effect appears after a person starts a drug or medical treatment, typically measured from the first dose onward in clinical studies. Investors watch these events because they can stop or slow product approval, raise development costs, or undermine market confidence—like a widely reported defect in a new gadget that triggers recalls and damages sales.

xenograft mouse model medical

"head-to-head studies with a human NSCLC (HCC827) xenograft mouse model..."

A xenograft mouse model is a laboratory test in which human tumor cells or tissues are implanted into a mouse so researchers can watch how a potential treatment affects a human-like cancer in a living body. For investors, results from these models are an early signal of whether a drug might work in people and can influence research progress, regulatory risk, and the perceived value of a drug program — though they are not a guarantee of success in human trials.

biologics license application regulatory

"and potentially file our first BLA for tovecimig."

A biologics license application is a formal request submitted to regulatory authorities seeking approval to market a new biological medicine, such as vaccines or treatments made from living organisms. It is a comprehensive review process that evaluates the safety, effectiveness, and manufacturing quality of the product. For investors, receiving approval signals that a biological therapy can be sold to the public, potentially leading to revenue growth and market success.

AI-generated analysis. Not financial advice.

• The analyses of progression-free survival (PFS) and overall survival (OS) remain on track for late Q1 2026 in the ongoing Phase 2/3 COMPANION-002 study of tovecimig (DLL4 x VEGF-A bispecific antibody) in patients with advanced biliary tract cancer (BTC).
  
  
• In the ongoing Phase 1 dose-escalation study of CTX-8371 (PD-1 x PD-L1 bispecific antibody), a previously reported third response has now been confirmed in a patient with Hodgkin Lymphoma (HL). CTX-8371 has demonstrated responses in patients with both solid tumor and hematologic malignancies, and the Company is now investigating potential accelerated pathways to approval for the treatment of both adult and pediatric patients with HL in the post-checkpoint inhibitor setting.
  
  
• Also in the CTX-8371 Phase 1 study, the previously disclosed deep partial response in a patient with triple negative breast cancer (TNBC) is now durable through week 32. Based on this and the other responses observed in the Phase 1 study, the CTX-8371 cohort expansions are now open for enrollment in patients with TNBC and non-small cell lung cancer (NSCLC). 
  
  
• Initiation of a Phase 1 study of CTX-10726 (PD-1 x VEGF-A bispecific antibody) is expected in Q1 2026 with initial data from this study expected in H2 2026.
  
  
• Compass expanded its senior leadership team with the appointment of Arjun Prasad, MBA, MPH, as Chief Commercial Officer and Cynthia Sirard, MD, as Chief Medical Officer. Mr. Prasad has overseen the successful launch of multiple oncology products, including a targeted therapeutic for patients with BTC. Dr. Sirard has deep oncology clinical development experience and is a global leader in advancing innovative oncology therapies.
  
  
• Data from tovecimig’s Phase 2 study in patients with colorectal cancer (CRC) will be presented at the 2026 ASCO GI Cancers Symposium. As previously announced, tovecimig demonstrated monotherapy activity in patients with advanced, metastatic CRC treated in the third- and fourth-line settings. All patients had received prior treatment with bevacizumab, and a majority had received bevacizumab in two or more prior regimens.
  
  
• Compass will be presenting at the J.P. Morgan 44^th Annual Healthcare Conference on Wednesday, January 14 at 7:30AM PT.
  
  
• Estimated $209 million in cash and marketable securities as of December 31, 2025, which is expected to provide cash runway into 2028.

BOSTON, Jan. 06, 2026 (GLOBE NEWSWIRE) -- Compass Therapeutics, Inc. (Nasdaq: CMPX), a clinical-stage, oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics, today provided a general business update highlighting progress throughout its pipeline of clinical-stage drug candidates.

“Compass enters 2026 with significant momentum across our organization. We are advancing multiple first-in-class, bispecific antibodies and expect to achieve major data-driven milestones this year. The additions of Mr. Prasad and Dr. Sirard further strengthen our management team, adding both meaningful depth and complementary expertise,” said Thomas Schuetz, MD, PhD, Chief Executive Officer and Vice Chairman of the Board of Directors.

“Key survival analyses for tovecimig in late Q1, if positive, could transform the treatment of patients with biliary tract cancer. Building on this, we believe tovecimig’s demonstrated clinical activity supports future expansion into a broad range of cancer types. Following tovecimig’s BTC data, we expect to report dose-escalation data for CTX-8371, which has already demonstrated robust responses in patients with solid and hematologic malignancies in the post-checkpoint inhibitor setting. Later in the year, we plan to report further data from our CTX-8371 studies, announce our first clinical data from CTX-10726 in the closely watched PD1xVEGF field, and potentially file our first BLA for tovecimig.”

“We are glad to be in a position to deliver true innovation for patients and hope to make a meaningful difference in these difficult-to-treat cancers.”

Pipeline Highlights and Upcoming Milestones:

Tovecimig (DLL4 x VEGF-A bispecific antibody)

• The analyses of key secondary endpoints from the COMPANION-002 Phase 2/3 randomized study, including PFS and OS, remain on track for late Q1 2026.
  
  
• Preparations for the Phase 2 basket study of tovecimig in a broader set of patients with DLL4+ cancers (potentially including gastric, ovarian, renal, hepatocellular, and colorectal cancers) are underway. The study is expected to begin following a comprehensive analysis of the complete data set from the COMPANION-002 BTC trial.
  
• The investigator sponsored trial (IST) of tovecimig in combination with the current first-line standard-of-care regimen of gemcitabine, cisplatin, and durvalumab (NCT05506943) continues to actively enroll patients.
• Tovecimig’s Phase 2 monotherapy data in patients with advanced, metastatic CRC treated in the third- and fourth-line settings will be presented at the 2026 ASCO GI Cancers Symposium in San Francisco on Saturday, January 9, 2026. Tovecimig demonstrated monotherapy activity, with an overall response rate of 5% (2 out of 40 patients), in heavily pre-treated patients, all of whom had previously been treated with bevacizumab (~51% had been treated with two or more prior rounds of bevacizumab). Although DLL4 expression on colorectal tumors is a negative prognostic factor, patients with DLL4-positive tumors did better with tovecimig therapy than patients with DLL4-negative tumors.
• Tovecimig’s activity in this patient population differentiates it from other anti-VEGF agents, which have shown 1.0-1.5% response rates in this patient population. Tovecimig’s safety profile was generally consistent with prior studies with hypertension as the most common treatment-emergent adverse event, all of which occurred in patients with a prior history of hypertension.

CTX-8371 (PD-1 x PD-L1 bispecific antibody)

• 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. TNBC and NSCLC were selected based on the deep and durable responses previously observed in these indications in the dose escalation portion of the study. 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 first half of 2026.
• The previously disclosed response in a patient with TNBC in the post-checkpoint inhibitor setting remains durable through 32 weeks of treatment and continues to deepen.
• A third response in a patient with HL was recently confirmed and represents a significant expansion of the therapeutic potential of CTX-8371 beyond solid tumors to hematologic malignancies. Based on these data, the Company is investigating potential accelerated pathways to advance CTX-8371 towards approval for both adult and pediatric patients with HL in the post-checkpoint inhibitor setting.
  

CTX-10726 (PD-1 x VEGF-A bispecific antibody)

• Initiation of the Phase 1 dose-escalation study of CTX-10726 is expected in Q1 2026 with initial clinical data expected in H2 2026.
• CTX-10726 demonstrated superior tumor control compared to ivonescimab in head-to-head studies with a human NSCLC (HCC827) xenograft mouse model, as well as superior PD-1 inhibition in head-to-head studies with a mouse (MC38) model of PD-1 blockade, and more potent PD-1 blockade in in vitro studies.

CTX-471 (CD137 agonist antibody)

• Initiation of a Phase 2 trial of CTX-471 in patients with tumors expressing NCAM (CD56) is expected in H1 2026.
  

Cash Position

As of December 31, 2025, cash and marketable securities were estimated at $209 million, providing the Company with anticipated cash runway into 2028.

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 pathways 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. For more information, visit the Compass Therapeutics website at https://www.compasstherapeutics.com

Forward-Looking Statements
This press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to Compass’s financial position to continue advancing its product candidates, expectations about cash runway, business and development plans, and statements regarding Compass’s product candidates, including their preclinical and clinical development, therapeutic potential and tolerability profile, and clinical trial milestones such as the expected trial design, timing of enrollment, patient dosing and data readouts, regulatory plans with respect to Compass’s product candidates and the therapeutic potential thereof. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, Compass’s ability to raise the additional funding it will need to continue to pursue its business and product development plans, the inherent uncertainties associated with developing product candidates and operating as a development stage company, Compass’s ability to identify additional product candidates for development, Compass’s ability to develop, initiate and complete clinical trials for, obtain approvals for and commercialize any of its product candidates, competition in the industry in which Compass operates and market conditions. These forward-looking statements are made as of the date of this press release, and Compass assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents Compass files with the U.S. Securities and Exchange Commission (SEC) available at www.sec.gov, including without limitation Compass’s latest Annual Report on Form 10-K, Quarterly Report on Form 10-Q and subsequent filings with the SEC.

Investor Contact
ir@compasstherapeutics.com

Media Contact
Anna Gifford, Chief of Staff
media@compasstherapeutics.com
617-500-8099

FAQ

When will Compass (CMPX) report PFS and OS for tovecimig in biliary tract cancer?

The company expects key PFS and OS analyses for tovecimig in late Q1 2026.

What was tovecimig’s reported response rate in metastatic colorectal cancer (CMPX)?

Tovecimig showed an overall response rate of 5% (2 of 40 patients) in heavily pretreated metastatic CRC.

What is Compass’s (CMPX) cash runway after the January 6, 2026 update?

Estimated cash and marketable securities were $209 million as of Dec 31, 2025, providing runway into 2028.

Which indications are open for CTX-8371 cohort expansions in CMPX’s Phase 1 study?

Cohort expansions are open for triple negative breast cancer (TNBC) and non-small cell lung cancer (NSCLC), each with n=28.

What dosing will be used in the CTX-8371 TNBC and NSCLC cohorts (CMPX)?

Half of patients in each cohort will receive 3.0 mg/kg and half will receive 10.0 mg/kg.

Has Compass (CMPX) reported responses of CTX-8371 in hematologic cancers?

Yes; a third confirmed response was reported in a patient with Hodgkin lymphoma, expanding activity beyond solid tumors.

When will Compass (CMPX) start the CTX-10726 Phase 1 study and expect initial data?

Initiation of CTX-10726 Phase 1 is expected in Q1 2026, with initial data expected in H2 2026.