Jefferies believes the 63% selloff in Compass Therapeutics (CMPX) is “an over-reaction” given the totality of the company’s data and the biliary tract cancer market opportunity. The key focus is how the FDA interprets overall survival given the positive signal, but “the trial’s crossover design confounds the ITT readout,” adds the analyst, who has a Buy rating and $9 price target on Compass shares.
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