Leerink analyst Andrew Berens upgraded Compass Therapeutics (CMPX) to Outperform from Market Perform with a price target of $6, up from $4, following the top line data release for the COMPANION-002 trial evaluating tovecimig in combination with paclitaxel. Into the data release, the firm was concerned that the COMPANION-002 trial had a number of risks that could lead to deterioration in the efficacy of tovecimig’s activity from that seen in the Phase 2 Korean dataset, a trend that was seen previously in the colorectal trial. While the efficacy did erode in COMPANION-002, the control arm also performed worse than anticipated and the trial met the primary endpoint. Importantly, the data clearly demonstrates a drug that is active, adding to the efficacy of paclitaxel alone as exemplified by the contrasting waterfall plots presented during the company presentation.
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Read More on CMPX:
- Positive Buy Rating for Tovecimig-Paclitaxel Combo Following Promising COMPANION-002 Trial Results
- Compass Therapeutics price target raised to $11 from $10 at Stifel
- Compass Therapeutics Reports Positive Phase 2/3 Trial Results
- Compass Therapeutics says tovecimig meets primary endpoint in Phase 2/3 study
- Cautious Hold Rating for Compass Therapeutics Amid Clinical and Regulatory Uncertainties
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