Compass Therapeutics (CMPX) AI Stock Analysis

• Market Cap: $976.08M
• Dividend Yield: N/A
• Average Volume (3M): 2.07M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.19
• Revenue Growth: -100.00%
• EPS Growth: -28.79%
• Country: US
• Employees: 35
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.09
• Shares Outstanding: 180,087,920
• 10 Day Avg. Volume: 2,471,704
• 30 Day Avg. Volume: 2,067,531
• PEG Ratio: -0.76
• Price to Book (P/B): 4.30
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -17.22
• Enterprise Value/Market Cap: 0.75
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -13.87
• 1Y Price Target: $12.72
• Price Target Upside: 134.69% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): -0.4
• Revenue Forecast (FY): $1.42M

• Rating: 52 Neutral
• Price Target: $5.50 ▲(1.48% Upside)
• Action: Reiterated Date: 03/05/26
• Date: Action: Reiterated 03/05/26

The score is primarily shaped by weak operating fundamentals (minimal revenue, ongoing losses, and cash burn) partially offset by a strong balance sheet and a favorable corporate update indicating cash runway into 2028 and advancing pipeline milestones. Technical indicators remain soft, and valuation is difficult to support due to negative earnings and no dividend.

Positive Factors

Cash runway into 2028

A ~ $209M cash position with runway into 2028 materially reduces near-term funding risk and allows Compass to advance multiple clinical milestones without immediate capital raises. This durability lets management de-risk programs, pursue data-driven partnerships, and plan commercialization steps with lower short-term dilution risk.

Low leverage, stronger capitalization

Very low debt-to-equity (~0.05) and a meaningful increase in total assets strengthen financial flexibility. This balance-sheet profile can absorb R&D losses and support multi-year development spending, reducing the probability of distressed financing and improving positioning for strategic alliances or non-dilutive funding.

Lead asset met primary endpoint

Achieving the primary endpoint for the lead asset is a durable de-risking event: it increases the chance of regulatory progression, supports discussions with partners, and substantiates the science behind the platform. Over months this can materially raise program value and the firm's ability to secure non-dilutive deals or favorable commercial planning.

Negative Factors

Persistent negative free cash flow

Sustained negative operating and free cash flow (~-$49M TTM) means the company will continue consuming cash as it develops programs. Even with runway, persistent burn necessitates future financing if timelines slip, which risks dilution and constrains long-term capital allocation toward new indications or commercial investment.

Pre-commercial with minimal revenue

Near-zero product revenue leaves Compass dependent on capital markets, milestones, or partnerships for funding. Without recurring commercial cash flows, long-term sustainability and reinvestment hinge on successful trial outcomes and approvals, elevating execution risk and the potential for funding-driven operational limits over the medium term.

Concentrated clinical readout risk

Business value is concentrated around upcoming pivotal readouts (e.g., tovecimig PFS/OS). While positive data can be transformational, unfavorable or delayed results would materially erode prospects. Heavy reliance on a few binary clinical outcomes increases long-term uncertainty and financing pressure if timelines or results diverge from expectations.

Compass Therapeutics Business Overview & Revenue Model

Company Description

Compass Therapeutics, Inc., a clinical-stage oncology-focused biopharmaceutical company, engages in developing antibody-based therapeutics to treat various human diseases. The company's product candidates in the clinical stage of development include CTX-009, an investigational bispecific antibody that blocks Delta-like ligand 4/Notch and vascular endothelial growth factor A signaling pathways, which are critical to angiogenesis and tumor vascularization; and CTX-471, an IgG4 monoclonal antibody that is an agonist of CD137. Its product candidates also comprise CTX-8371, a bispecific inhibitor that targets PD-1 and PD-L1. The company was founded in 2014 and is headquartered in Boston, Massachusetts.

How the Company Makes Money

Compass Therapeutics makes money primarily through the development and commercialization of its proprietary antibody therapeutics. The company generates revenue through partnerships and collaborations with other pharmaceutical companies, licensing agreements, and potential sales of developed therapies. Significant partnerships with larger biopharmaceutical firms may provide upfront payments, milestone payments, and royalties on sales, contributing to its earnings. Additionally, as its drug candidates progress through clinical trials and receive regulatory approval, Compass Therapeutics aims to commercialize these products, either independently or through strategic alliances, to drive revenue growth.

Compass Therapeutics Financial Statement Overview

Summary

Balance sheet strength (low leverage and higher asset base) supports the company, but overall fundamentals are constrained by pre-commercial revenue (~$0.85M in 2024), widening TTM net losses (-$66.5M), and sustained cash burn (FCF around -$49M TTM).

Income Statement

CMPX remains a pre-commercial biotech with minimal/near-zero revenue across most periods (only ~$0.85M in 2024), resulting in consistently large operating losses. Profitability is weak and volatile: net loss widened to -$66.5M in TTM (Trailing-Twelve-Months) versus -$49.4M in 2024, and operating losses have persisted every year. The key positive is that loss levels have improved versus the 2021 peak loss, but the business is still far from break-even and currently lacks a recurring revenue base.

Balance Sheet

The balance sheet is a relative strength. Leverage is low with modest debt ($9.8M in TTM (Trailing-Twelve-Months)) versus a sizable equity base ($196.8M), keeping debt-to-equity around ~0.05. Total assets have grown meaningfully versus 2024 ($219.6M vs. $140.4M), suggesting improved capitalization. The primary weakness is ongoing negative returns on equity driven by continued losses, which can erode the equity cushion over time if profitability does not improve.

Cash Flow

Cash generation remains negative, with operating cash flow and free cash flow both around -$49M in TTM (Trailing-Twelve-Months), reflecting continued cash burn to fund operations. A positive signal is that free cash flow improved versus 2024 (less negative), indicating some moderation in burn. However, cash needs remain substantial and persistent, and cash flow performance is still highly dependent on external funding until revenues scale.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	850.00K	0.00	0.00	0.00
Gross Profit	0.00	850.00K	0.00	0.00	0.00
EBITDA	-72.84M	-54.87M	-48.47M	-39.75M	-80.19M
Net Income	-66.49M	-49.38M	-42.49M	-39.23M	-82.18M
Balance Sheet
Total Assets	219.59M	140.40M	156.88M	199.65M	153.76M
Cash, Cash Equivalents and Short-Term Investments	208.91M	126.72M	152.46M	186.61M	144.51M
Total Debt	9.83M	6.63M	1.73M	2.94M	4.04M
Total Liabilities	22.80M	15.17M	8.34M	18.01M	13.68M
Stockholders Equity	196.79M	125.23M	148.54M	181.64M	140.08M
Cash Flow
Free Cash Flow	-49.17M	-44.90M	-40.65M	-34.34M	-21.23M
Operating Cash Flow	-49.14M	-44.85M	-40.62M	-34.13M	-19.67M
Investing Cash Flow	-93.31M	46.77M	26.96M	-151.20M	-1.77M
Financing Cash Flow	129.61M	17.34M	2.94M	75.76M	118.61M

Compass Therapeutics Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 5.42
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CMPX, the sentiment is Neutral. The current price of 5.42 is below the 20-day moving average (MA) of 6.02, below the 50-day MA of 5.86, and above the 200-day MA of 4.14, indicating a neutral trend. The MACD of -0.15 indicates Positive momentum. The RSI at 36.76 is Neutral, neither overbought nor oversold. The STOCH value of 22.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CMPX.

Compass Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CTMX	62 Neutral	$852.26M	-9.25	44.49%	―	-10.26%	144.62%
KALV	57 Neutral	$874.45M	-3.32	―	―	―	-13.14%
MNPR	53 Neutral	$388.06M	―	-25.72%	―	―	-73.48%
CMPX	52 Neutral	$976.08M	-12.74	-43.61%	―	-100.00%	-28.79%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
GOSS	47 Neutral	$128.53M	-3.11	593.78%	―	-58.17%	-116.24%
BCYC	44 Neutral	$373.20M	-2.27	-35.54%	―	-23.43%	-9.84%

Compass Therapeutics Corporate Events

Compass Therapeutics details cash runway and pipeline progress

On January 6, 2026, Compass Therapeutics reported an estimated, unaudited cash and marketable securities balance of about $209 million as of December 31, 2025, which it expects will fund operations into 2028, and provided a broad corporate update highlighting pipeline momentum and leadership expansion. The company said key progression-free and overall survival analyses in its Phase 2/3 COMPANION-002 trial of tovecimig in biliary tract cancer remain on track for late first quarter 2026, with additional Phase 2 monotherapy data in metastatic colorectal cancer to be showcased at the 2026 ASCO GI Cancers Symposium, where tovecimig has shown differentiated activity versus other anti-VEGF agents. Compass also detailed encouraging early clinical signals from CTX-8371, including durable responses in triple negative breast cancer and a confirmed third response in Hodgkin lymphoma, prompting cohort expansions in triple negative breast cancer and non-small cell lung cancer and exploration of potential accelerated pathways in Hodgkin lymphoma. The company plans to initiate a Phase 1 study of CTX-10726, a PD-1 x VEGF-A bispecific, in the first quarter of 2026 following promising preclinical comparisons, and to start a Phase 2 trial of CTX-471 in NCAM-expressing tumors in the first half of 2026. In parallel, Compass strengthened its senior team with the appointments of Arjun Prasad as chief commercial officer and Cynthia Sirard as chief medical officer, moves aimed at bolstering its commercial and clinical development capabilities as it advances multiple first-in-class bispecific antibodies toward potentially pivotal milestones.

The most recent analyst rating on (CMPX) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Compass Therapeutics stock, see the CMPX Stock Forecast page.