Compass Therapeutics: "Outperform" Rating Amid Clinical Pipeline Development

Compass Therapeutics (CMPX) has been rated 'Outperform' by Raymond James with a $9 price target. The company reported a net loss of $19.9 million in Q2, but its tovecimig treatment met its primary endpoint in Phase 2/3, and CTX-10726 is on track for an IND submission in Q4. Compass has $101 million in cash and cash equivalents, sufficient to finance operations to 2027.

Boston, MA - Compass Therapeutics, Inc. (NASDAQ:CMPX), a clinical-stage oncology-focused biopharmaceutical company, has announced the pricing of an underwritten public offering expected to raise approximately $120 million in gross proceeds. The offering consists of 33,290,000 shares of common stock priced at $3.00 per share and pre-funded warrants to purchase up to 6,710,000 additional shares at $2.9999 per warrant. The pre-funded warrants carry an exercise price of $0.0001 per share.

The company plans to use the proceeds for initial commercial readiness preparations, research and clinical development of its product candidates, and general corporate purposes. The offering is expected to close on or about August 14, 2025, subject to customary closing conditions. Jefferies, Piper Sandler, and Guggenheim Securities are acting as joint active bookrunning managers for the offering, while Raymond James, Wedbush PacGrow, and H.C. Wainwright & Co. are acting as lead managers, with Ladenburg Thalmann and D. Boral Capital as co-managers.

Compass Therapeutics focuses on developing antibody-based therapeutics that target the relationship between angiogenesis, the immune system, and tumor growth. The company's pipeline includes products that modulate the microvasculature, induce immune responses, and alleviate immunosuppressive mechanisms. The offering is being made pursuant to a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (SEC) on August 30, 2024, and declared effective on September 6, 2024.

In recent news, Compass Therapeutics reported a net loss of $19.9 million for the second quarter of 2025, with earnings per share (EPS) at -$0.14. Guggenheim raised its price target for Compass Therapeutics to $12.00 from $10.00, citing promising clinical data and maintaining a Buy rating. Raymond James continued to hold an Outperform rating with a price target of $9.00, following the company’s recent financial results and clinical trial updates.

References:
[1] https://www.ainvest.com/news/compass-therapeutics-announces-proposed-public-offering-common-stock-pre-funded-warrants-2508/
[2] https://www.ainvest.com/news/compass-therapeutics-raises-112-5m-public-offering-2508/
[3] https://www.ainvest.com/news/compass-therapeutics-announces-120m-stock-offering-prices-shares-3-00-2508/