Leerink notes that Compass Therapeutics (CMPX) announced progression free survival and overall survival results for tovecimig in second line biliary tract cancer from the randomized COMPANION-002 study. At a high level, the firm views this data update as supportive of a path forward in an area of high unmet need. Recall, Compass is evaluating tovecimig plus paclitaxel vs. paclitaxel in the Phase II/III COMPANION-002 study for second line biliary tract cancer. Leerink views today’s updates as supportive of a path forward for tovecimig in second line BTC where no labeled treatment is available. Nonetheless, the firm believes investors will want to understand the impact of the crossover on OS results, the implications of the posthoc OS analyses, and the regulatory steps moving forward. Leerink has an Outperform rating on the shares.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CMPX:
- Midday Fly By: Verizon reports ‘beat and raise,’ Shell to acquire ARC
- Analyst Maintains Buy on Tovecimig Developer, Sees PFS Strength Underappreciated and Keeps $24 Price Target Unchanged
- H.C. Wainwright keeps Buy rating on Compass Therapeutics after data
- Buy Rating Reiterated on Compass Therapeutics as Tovecimig Combo Shows Strong PFS Benefit but OS Signal Clouded by Crossover Effects
- Morning Movers: Domino’s Pizza sinks following first quarter results