CMPX · Compass Therapeutics, Inc.

Compass Therapeutics reported a net loss of $18.3 million, or $0.10 per share, for the first quarter of 2026, compared to a net loss of $16.6 million, or $0.12 per share, in the same period of 2025. The wider loss was driven primarily by a 41% increase in General and Administrative expenses to $6.9 million, attributed to $1.0 million in pre-commercialization expenses and higher stock compensation. Research and Development costs remained relatively stable, increasing slightly to $13.4 million. Interest income provided a partial offset, rising to $2.0 million from $1.3 million year-over-year.

Operationally, the company reported highly significant clinical results for tovecimig in biliary tract cancer (BTC), demonstrating a clear progression-free survival benefit (HR=0.44) and meeting the primary endpoint for overall response rate. Management stated intentions to meet with the FDA ahead of a planned BLA submission later this year. The company’s financial position remains robust with $195 million in cash and marketable securities as of March 31, 2026, supporting a runway into 2028. This capital stability is critical as the company advances its pipeline, including the ongoing Phase 1 studies for CTX-8371 and CTX-10726, with initial data for the latter expected in Q4 2026.