Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Compass Therapeutics (CMPX – Research Report), with a price target of $10.00.
Joseph Pantginis has given his Buy rating due to a combination of factors centered around Compass Therapeutics’ strategic progress and the potential of its primary assets. The company is advancing three key programs: CTX-009, CTX-471, and CTX-8371, all of which are showing promising developments. Particularly, the enrollment for the COMPANION-002 study of CTX-009 in biliary tract cancer is anticipated to conclude by mid-2024, with top-line data expected thereafter. Moreover, the CTX-009 study for metastatic colorectal cancer has completed enrollment, and the first stage’s top-line results are also expected by mid-2024, which, if sufficiently effective, will lead to further expansion of the trial.
Additionally, the observed responses in the Phase 1b monotherapy study of CTX-471, notably in patients who had previously been treated with checkpoint inhibitors, suggest a potential biomarker of response which is guiding the planning of a Phase 2 study. Furthermore, the FDA’s clearance for CTX-8371 marks another significant milestone, with clinical trials expected to commence shortly. With $152.5 million in cash providing a runway into mid-2026, Pantginis likely sees a solid financial position that supports ongoing operations. These factors collectively underpin his optimistic outlook and Buy recommendation for Compass Therapeutics’ stock.
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Compass Therapeutics (CMPX) Company Description:
Compass Therapeutics Inc is a clinical-stage biopharmaceutical company. The firm is developing proprietary antibody therapeutics intended to engage the immune system to treat both solid tumors and hematological malignancies. Its pipeline product candidates are CTX-471/ CD137 agonist and CTX-8371.
