Analyst Charles Zhu from LifeSci Capital maintained a Buy rating on Compass Therapeutics and keeping the price target at $10.00.
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Charles Zhu has given his Buy rating due to a combination of factors including the promising progress of Compass Therapeutics’ COMPANION-002 trial. The trial, which is evaluating tovecimig for second-line biliary tract cancer (BTC) patients, has shown potential clinical benefits with a median follow-up of approximately 19 months. This is significant as it surpasses the overall survival rates observed in similar studies, suggesting a positive outlook for the treatment.
Additionally, Zhu highlights the underappreciated market opportunity for BTC treatments, as current market assessments often overlook the full scope of the disease’s prevalence. With an estimated 23,000 annual US patients, there is a substantial market potential that Compass Therapeutics could tap into. Furthermore, the anticipated pricing strategy for tovecimig could provide financial upside, and ongoing regulatory engagements, both domestically and internationally, are expected to support future growth prospects.