Compass Therapeutics, Inc. ( (CMPX) ) has released its Q4 earnings. Here is a breakdown of the information Compass Therapeutics, Inc. presented to its investors.
Compass Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing proprietary antibody-based therapeutics for oncology, with a particular emphasis on the interplay between angiogenesis, the immune system, and tumor growth. Based in Boston, Massachusetts, the company aims to advance its product candidates through clinical development as standalone therapies and in combination with other proprietary antibodies.
In its 2024 financial report, Compass Therapeutics highlighted significant progress in its clinical trials and research initiatives. The company completed enrollment for its COMPANION-002 study, targeting biliary tract cancer, and is on track to release top-line data by the end of the first quarter of 2025. Additionally, Compass is preparing to initiate several Phase 2 clinical trials in 2025, focusing on novel biomarkers and combination therapies.
Key financial metrics from the report include a net loss of $49.4 million for 2024, compared to $42.5 million in 2023, with research and development expenses rising by 11% to $42.3 million. The company ended the year with $127 million in cash and marketable securities, which is expected to sustain operations into the first quarter of 2027. Strategic advancements include the development of CTX-10726, a bispecific antibody expected to enter clinical trials by the end of 2025, and CTX-471, which is set to begin a Phase 2 trial in mid-2025.
Looking ahead, Compass Therapeutics remains focused on advancing its pipeline of innovative therapies, with several key data readouts and trial initiations anticipated in 2025. The company’s strong cash position supports its ongoing research and development efforts, positioning it well for future growth in the biopharmaceutical sector.