Compass Therapeutics, Inc. ( (CMPX) ) has released its Q3 earnings. Here is a breakdown of the information Compass Therapeutics, Inc. presented to its investors.
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Compass Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing proprietary antibody-based therapeutics for oncology, with its headquarters in Boston, Massachusetts.
In the third quarter of 2024, Compass Therapeutics reported significant progress in its clinical-stage programs, highlighting advancements in trials for its lead asset CTX-009 and other promising candidates such as CTX-471 and CTX-8371. The company is on track to deliver top-line data for its Phase 2/3 trial of CTX-009 by the end of the first quarter of 2025.
Key financial metrics for the quarter include a net loss of $10.5 million, or $0.08 per share, consistent with the previous year. Research and development expenses slightly decreased to $8.6 million, while general and administrative expenses increased to $3.6 million due to stock compensation costs. The company maintains a robust cash balance of $135 million, ensuring operational stability through early 2027.
Strategically, Compass is expanding its development pipeline, with ongoing trials for CTX-009 in biliary tract and colorectal cancers, and planned studies for CTX-471 targeting NCAM-expressing tumors. Additionally, CTX-8371 continues to show promise as a next-generation bispecific checkpoint inhibitor in early-stage trials.
Looking forward, Compass Therapeutics aims to advance its clinical trials and leverage its strong cash position to drive future growth in the oncology therapeutics market, with multiple data readouts and trial initiations anticipated in 2025.
