Compass Therapeutics (CMPX) AI Stock Analysis

• Market Cap: $969.35M
• Dividend Yield: N/A
• Average Volume (3M): 1.70M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.12
• Revenue Growth: -100.00%
• EPS Growth: -28.79%
• Country: US
• Employees: 35
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.08
• Shares Outstanding: 177,862,100
• 10 Day Avg. Volume: 1,367,990
• 30 Day Avg. Volume: 1,695,795
• PEG Ratio: -0.44
• Price to Book (P/B): 1.59
• Price to Sales (P/S): 233.89
• P/FCF Ratio: -4.43
• Enterprise Value/Market Cap: 0.39
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -5.54
• 1Y Price Target: $12.67
• Price Target Upside: 132.48% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): -0.43
• Revenue Forecast (FY): $3.32M

• Rating: 55 Neutral
• Price Target: $5.00 ▼(-8.26% Downside)

The score is mainly constrained by weak financial performance (minimal revenue, sizable losses, and persistent cash burn), partially offset by a strong equity-funded balance sheet and a positive corporate update extending cash runway into 2028 with multiple pipeline milestones ahead. Technicals are modestly supportive, while valuation remains less informative due to negative earnings and no dividend.

Positive Factors

Cash Runway

A cash balance of roughly $209M providing runway into 2028 materially reduces near-term financing pressure, enabling the company to fund multi-year clinical programs and planned registrational work. This enduring liquidity supports execution on pivotal milestones without immediate dilution.

Low Leverage / Balance Sheet

Very low debt relative to equity gives Compass structural financial flexibility. Limited leverage lowers bankruptcy and covenant risk, allowing management to prioritize R&D investment and trial enrollment pacing, a durable advantage for a clinical-stage biotech through development cycles.

Pipeline Catalysts

Near-term pivotal readouts (PFS/OS) and a potential BLA pathway create structurally meaningful de-risking events. Successful outcomes could validate the bispecific strategy and enable regulatory progression, permanently altering the company's commercial trajectory and justifying continued R&D investment.

Negative Factors

Lack of Revenue & Profitability

As a clinical-stage firm, Compass lacks a sustainable revenue base and reports sizable TTM losses, reflecting a prolonged path to commercialization. Persistent negative earnings imply continued reliance on external funding and highlight execution risk if clinical progress stalls.

Negative Cash Generation

Consistent negative operating and free cash flow, worsening year-over-year, indicates rising cash burn from development activities. This structural cash consumption necessitates financing events and constrains optionality for new programs, pressuring long-term capital efficiency.

Reliance on Capital Markets

The $400M shelf filing underscores dependence on capital markets to fund operations. While providing optionality, it signals potential dilution risk and exposure to market conditions; structurally this raises governance considerations about financing cadence as trials progress.

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

Compass Therapeutics shows promising revenue growth but faces significant challenges with ongoing operational losses and negative cash flows. The strong balance sheet with a high equity ratio and low leverage indicates financial stability, yet the negative return on equity reflects the absence of profitability.

Income Statement

Compass Therapeutics has shown a significant increase in revenue to $3.69 million in the TTM (Trailing-Twelve-Months) from zero in previous years. However, the company is still grappling with substantial losses, as reflected in the negative net income and EBIT margins. The gross profit margin stands at 74.80% for TTM, indicating some operational efficiency. Yet, the net profit margin is significantly negative due to the high operational costs and losses, which are common in the biotechnology sector during the development phase.

Balance Sheet

The company maintains a strong equity position with a high equity ratio of 92.81% in the TTM, reflecting financial stability and low leverage. The debt-to-equity ratio is minimal at 0.05, showcasing prudent management of debt. However, the return on equity is negative due to ongoing losses, which indicates that the company is not yet generating returns on shareholders' investments.

Cash Flow

Compass Therapeutics has faced a decline in operating cash flow, highlighting challenges in generating cash from operations. The free cash flow is negative, though has shown some improvement compared to previous periods. The operating cash flow to net income ratio is close to 1, suggesting alignment between cash outflows and accounting losses. Despite this, the company relies heavily on financing activities to sustain its cash balance.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	850.00K	0.00	0.00	0.00	0.00
Gross Profit	0.00	850.00K	0.00	0.00	0.00	0.00
EBITDA	-68.76M	-54.87M	-48.47M	-39.75M	-80.19M	-25.41M
Net Income	-65.81M	-49.38M	-42.49M	-39.23M	-82.18M	-29.50M
Balance Sheet
Total Assets	231.26M	140.40M	156.88M	199.65M	153.76M	51.91M
Cash, Cash Equivalents and Short-Term Investments	219.90M	126.72M	152.46M	186.61M	144.51M	47.08M
Total Debt	9.87M	6.63M	1.73M	2.94M	4.04M	9.33M
Total Liabilities	21.65M	15.17M	8.34M	18.01M	13.68M	11.97M
Stockholders Equity	209.61M	125.23M	148.54M	181.64M	140.08M	39.95M
Cash Flow
Free Cash Flow	-34.22M	-44.90M	-40.65M	-34.34M	-21.23M	-26.91M
Operating Cash Flow	-34.20M	-44.85M	-40.62M	-34.13M	-19.67M	-26.80M
Investing Cash Flow	-74.56M	46.77M	26.96M	-151.20M	-1.77M	38.00K
Financing Cash Flow	128.45M	17.34M	2.94M	75.76M	118.61M	48.54M

Compass Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.45
• 50DMA: Positive
• 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 Positive. The current price of 5.45 is above the 20-day moving average (MA) of 5.16, above the 50-day MA of 4.89, and above the 200-day MA of 3.31, indicating a bullish trend. The MACD of 0.06 indicates Positive momentum. The RSI at 51.40 is Neutral, neither overbought nor oversold. The STOCH value of 50.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CMPX.

Compass Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CTMX	66 Neutral	$728.57M	10.19	66.76%	―	-10.26%	144.62%
KALV	57 Neutral	$825.93M	-3.96	―	―	―	-13.14%
CMPX	55 Neutral	$969.35M	―	-37.82%	―	-100.00%	-28.79%
MNPR	53 Neutral	$434.43M	-18.44	-26.54%	―	―	-73.48%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
BCYC	47 Neutral	$476.14M	-1.83	-34.63%	―	-23.43%	-9.84%
GOSS	47 Neutral	$557.81M	-3.64	―	―	-58.17%	-116.24%

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.