H.C. Wainwright keeps Buy rating on Compass Therapeutics after data

After Compass Therapeutics (CMPX) announced key secondary endpoints findings, including progression free survival and overall survival, from its COMPANION-002 randomized Phase 2/3 study in patients with biliary tract cancer treated with tovecimig, H.C. Wainwright said the firm believes the market is “misreading the confounded OS as a clinical failure.” However, the firm sees this morning’s market selloff as “a reaction to the regulatory uncertainty that now remains, rather than a reflection of clinical benefit” and will be looking to the upcoming FDA pre-BLA dialogue, expected in mid-2026. The firm reiterates a Buy rating and $24 price target on Compass shares, which are down $3.08, or 61%, to $1.94 near midday.