Compass Therapeutics Reports Third Quarter 2025 Financial Results and Provides Corporate Update

BOSTON, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Compass Therapeutics, Inc. (Nasdaq: CMPX), a clinical-stage, oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics, today reported third quarter 2025 financial results and provided a business update.

“We have made strong progress across our clinical pipeline this quarter and based on a continuing trend of lower mortality in the ongoing randomized trial of tovecimig in patients with advanced BTC, we expect to report the OS and PFS data in late Q1 2026. These secondary endpoint data will build on the statistically significant primary endpoint of overall response rate we previously reported, and we expect could support our first BLA filing in the second half of 2026,” said Thomas Schuetz, MD, PhD, Chief Executive Officer and Vice Chairman of the Board of Directors. “Recent claims-based market research shows ~25,000 patients are diagnosed with BTC annually in the United States alone, and tovecimig could provide hope for the vast majority of patients in the second line who have no approved therapeutic option.”

“Importantly, we have also observed a new response in an additional indication in the fifth and final dosing cohort of CTX-8371, which is now fully enrolled, in patients treated in the post-checkpoint inhibitor setting. There have been no dose-limiting toxicities (DLTs) observed at any dose level, suggesting that CTX-8371 may have a differentiated safety profile. We previously reported deep partial responses in two patients from the first four dosing cohorts, one in a patient with NSCLC and one in a patient with TNBC, and based on these responses we plan to begin cohort expansions in these two indications this quarter. We look forward to reporting the topline data from this study, including from the final dosing cohort, at a medical meeting in the first half of 2026. Finally, CTX-10726, our proprietary PD-1 x VEGF bispecific antibody, is on track for IND filing later this quarter and continues to generate compelling preclinical data.”

“All these plans are fully supported by our upsized and oversubscribed $138 million financing, which included full exercise of the over-allotment option, that we announced in August. The financing included many of our existing investors and brought in additional top-tier, healthcare focused investors to the company.”

Net loss for the quarter ended September 30, 2025, was $14.3 million or $0.08 per share of common stock, compared to $10.5 million or $0.08 per share of common stock for the same period in 2024. Net loss for the nine months ended September 30, 2025, was $50.8 million or $0.34 per share of common stock, compared to $34.3 million or $0.25 per share of common stock for the same period in 2024.

Research and Development (R&D) Expenses

R&D expenses were $12.8 million for the quarter ended September 30, 2025, as compared to $8.6 million for the same period in 2024, an increase of $4.2 million, or 49%. This increase was attributable to $4.2 million of manufacturing and IND-enabling costs related to CTX-10726. R&D expenses were $42.3 million for the nine months ended September 30, 2025, as compared to $29.3 million for the same period in 2024, an increase of $13.0 million, or 44%. This increase was attributable to additional manufacturing expenses of $11.2 million, primarily related to tovecimig and CTX-10726. Additionally, there were 1.9 million of IND-enabling costs related to CTX-10726, a new program from prior year.

General and Administrative (G&A) Expenses

G&A expenses were $3.0 million for the three months ended September 30, 2025, as compared to $3.6 million for the same period in 2024, a decrease of $0.6 million or 18%. The decrease was due to the return of unvested employee equity which resulted in a credit of $1.1 million of stock compensation expense, partially offset by an increase in costs related to market research and commercial preparation costs of $0.6 million. G&A expenses were $12.6 million for the nine months ended September 30, 2025, as compared to $11.6 million for the same period in 2024, an increase of $1.0 million or 8%. The increase was primarily attributable to $0.6 million of market research and commercial preparation costs.

As of September 30, 2025, cash and marketable securities were $220 million as compared to $127 million as of December 31, 2024, providing the Company with an anticipated cash runway through 2028. During the first nine months of 2025, $35.9 million of net cash was used in operating activities.

Compass Therapeutics, Inc. is a clinical-stage oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics to treat multiple human diseases. The company’s scientific focus is on the relationship between angiogenesis, the immune system, and tumor growth. Compass has built a robust pipeline of novel product candidates designed to target multiple critical biological pathways required for an effective anti-tumor response. These pathways include modulation of the microvasculature via angiogenesis-targeted agents, induction of a potent immune response via activators on effector cells in the tumor microenvironment, and alleviation of immunosuppressive mechanisms used by tumors to evade immune surveillance. The company plans to advance its product candidates through clinical development as both standalone therapies and in combination with proprietary pipeline antibodies based on supportive clinical and nonclinical data. The Company was founded in 2014 and is headquartered in Boston, Massachusetts. For more information, visit the Compass Therapeutics website athttps://www.compasstherapeutics.com

Forward-Looking StatementsThis press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to Compass’s financial position to continue advancing its product candidates, expectations about cash runway, business and development plans, and statements regarding Compass’s product candidates, including their preclinical and clinical development, therapeutic potential and tolerability profile, and clinical trial milestones such as the expected trial design, timing of enrollment, patient dosing and data readouts, regulatory plans with respect to Compass’s product candidates and the therapeutic potential thereof. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, Compass’s ability to raise the additional funding it will need to continue to pursue its business and product development plans, the inherent uncertainties associated with developing product candidates and operating as a development stage company, Compass’s ability to identify additional product candidates for development, Compass’s ability to develop, initiate and complete clinical trials for, obtain approvals for and commercialize any of its product candidates, competition in the industry in which Compass operates and market conditions. These forward-looking statements are made as of the date of this press release, and Compass assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents Compass files with the U.S. Securities and Exchange Commission (SEC) available atwww.sec.gov, including without limitation Compass’s latest Annual Report on Form 10-K, Quarterly Report on Form 10-Q and subsequent filings with the SEC.