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BOSTON - Compass Therapeutics, Inc. (NASDAQ:CMPX), a biopharmaceutical company focused on oncology with a market capitalization of approximately $197 million, provided updates on its clinical development programs, including the anticipated top-line data for its Phase 2/3 study of tovecimig in biliary tract cancer (BTC) patients, expected by the end of the first quarter of 2025. According to InvestingPro data, five analysts have recently revised their earnings expectations upward for the upcoming period.
The company's investigational drug tovecimig, formerly known as CTX-009, is a bispecific antibody targeting DLL4 and VEGF-A. It is currently being evaluated in a randomized trial in combination with paclitaxel for patients with advanced BTC. Additionally, a Phase 2 study for tovecimig in DLL4-positive colorectal cancer is slated to begin in mid-2025.
Compass Therapeutics also announced the advancement of CTX-10726, a novel PD-1 x VEGF-A bispecific antibody, following a year of preclinical development. The company plans to file an Investigational New Drug (IND) application by the end of 2025, with initial clinical data expected in 2026.
Furthermore, the company is preparing for two Phase 2 biomarker trials for tovecimig in colorectal cancer and CTX-471 in tumors expressing NCAM/CD56, with initiation anticipated in mid-2025. CTX-471 has shown promising clinical responses and a correlation between NCAM expression and disease control in previous studies.
Compass also reported the full enrollment of the third dosing cohort in the Phase 1 study of CTX-8371, a PD-1 x PD-L1 bispecific antibody, with preliminary data expected in the second half of 2025.
Financially, Compass Therapeutics ended 2024 with an estimated $127 million in cash and marketable securities, which is projected to fund operations into the first quarter of 2027. InvestingPro analysis shows the company maintains a strong liquidity position with a current ratio of 31.84, though it's currently burning through cash at a notable rate. Want deeper insights? InvestingPro offers 8 additional key financial tips for CMPX.
This information is based on a press release statement from Compass Therapeutics. The company continues to explore the interplay between angiogenesis, the immune system, and tumor growth in its quest to develop innovative cancer therapies. With an overall Financial Health Score of 2.16 (rated as 'FAIR' by InvestingPro), and analyst price targets ranging from $4 to $32, investors and stakeholders are advised to follow official reports and filings with the U.S. Securities and Exchange Commission for further details and updates on the company's progress.
In other recent news, Compass Therapeutics has appointed Barry Shin as its new Chief Financial Officer. Shin, with over 20 years of experience in the biopharmaceutical industry, is expected to contribute significantly to the company's strategic financial management, particularly as it progresses with its clinical and pre-clinical assets. Compass's CEO, Thomas Schuetz, expressed confidence in Shin's expertise, particularly with upcoming clinical milestones in 2025.
Among recent developments, Compass Therapeutics has seen a reshuffle in its board of directors, welcoming Ellen V. Chiniara, J.D., and Mary Ann Gray, Ph.D. Thomas Schuetz, M.D., Ph.D. has also been named as the new President and Chief Executive Officer.
The company's CTX-009 treatment for biliary tract cancers and colorectal cancer has caught the attention of Ladenburg Thalmann, leading to an upgrade from a Neutral to a Buy rating. Jefferies has maintained a Buy rating for the company as well.
In addition to these developments, Compass Therapeutics recently presented promising preclinical data at the American Association for Cancer Research Annual Meeting, highlighting the potential effectiveness of its proprietary antibodies, CTX-009 and CTX-471, against tumors resistant to current immune-oncology therapies.
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