Compass Therapeutics, Inc.

Listed Company

CMPXCIK 0001738021NasdaqNon-AcceleratedSmaller ReportingBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-66.49M

Total Assets

$219.59M

Equity

$196.79M

Shares Out

180.09M

Op. Cash Flow

$-49.14M

Business

Compass Therapeutics, Inc. is a clinical-stage, oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics that modulate angiogenesis and immune pathways to treat solid tumors. Its main products include a pipeline of bispecific and monoclonal antibodies—tovecimig (DLL4 x VEGF‑A), CTX‑471 (CD137 agonist), CTX‑8371 (PD‑1 x PD‑L1) and CTX‑10726 (PD‑1 x VEGF‑A)—along with discovery platforms such as StitchMabs and common light chain antibody technologies. The company operates across discovery, IND-enabling and clinical development activities and pursues licensing and strategic partnerships. Clinical development and distribution activities are focused primarily in the United States with collaborations and licensed rights in South Korea, China and other international markets, and reliance on third‑party contract manufacturers and investigator-sponsored trials for supply and execution.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Licensing revenue	0	850,000	0	—	—
Research and development	56	42	38	30	20
General and administrative	17	15	12	12	11
Total operating expenses	73	57	50	42	82
Loss from operations	−73	−57	−50	−42	−82
Interest income	6	7	8	2	−299,000
Net loss	−66	−49	−42	−39	−82
Net loss per share - basic and diluted (in dollars per share)	−0.42	−0.36	−0.33	−0.37	−1.31
Basic and diluted weighted average shares outstanding (in shares)	158	137	127	105	63
Unrealized gain on marketable securities	70,000	173,000	339,000	−302,000	0
Comprehensive loss	−66	−49	−42	−40	−82

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-09-30	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	31	—	44	24	35
Marketable securities	178	—	83	128	152
Prepaid expenses and other current assets	913,000	—	6	1	8
Total current assets	210	—	133	154	195
Property and equipment, net	102,000	—	353,000	898,000	2
"Operating lease, right-of-use (""ROU"") asset"	9	—	7	2	3
Restricted cash	568,000	—	568,000	—	—
Total assets	220	—	140	157	200
Accounts payable	2	—	2	4	3
Accrued expenses	11	—	6	3	12
Operating lease obligations, current portion	1	1	338,000	1	1
Total current liabilities	14	—	9	8	16
Operating lease obligations, long-term portion	9	9	6	536,000	2
Total liabilities	23	—	15	8	18
Commitments and Contingencies	—	—	—	—	—
Common stock, $0.0001 par value: 300,000 shares authorized; 178,324 shares issued and outstanding at December 31, 2025; 137,820 shares issued and outstanding at December 31, 2024	18,000	—	14,000	13,000	13,000
Additional paid-in-capital	628	—	490	464	455
Accumulated other comprehensive income	280,000	—	210,000	37,000	−302,000
Accumulated deficit	−431	—	−365	−315	−273
Total stockholders' equity	197	—	125	149	182
Total liabilities and stockholders' equity	220	—	140	157	200

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	276,000	589,000	699,000	782,000	566,000
Share-based compensation	8	9	6	5	4
Amortization of premium and discount on marketable securities	−2	−2	−3	−801,000	0
ROU asset amortization	1	1	1	1	1
Prepaid expenses and other current assets	5	−5	7	−6	534,000
Accounts payable	−664,000	−2	708,000	3	−194,000
Accrued expenses	5	4	−9	3	7
Operating lease liability	−369,000	−1	−1	−1	−1
Net cash used in operating activities	−49	−45	−41	−34	−20
Purchases of marketable securities	−195	−88	−155	−200	0
Proceeds from sale or maturities of marketable securities	101	135	182	49	0
Purchase of property and equipment	−25,000	−44,000	−30,000	−212,000	−2
Net cash (used in) provided by investing activities	−93	47	27	−151	−2
Proceeds from issuance of common stock and warrants	138	18	3	76	128
Issuance costs from issuance of common stock	−9	−543,000	−94,000	−495,000	−281,000
Proceeds from exercise of stock options	1	0	62,000	15,000	0
Taxes paid related to net shares settlement of RSUs	−1	−232,000	159,000	0	—
Net cash provided by financing activities	130	17	3	76	119
Net change in cash, cash equivalents and restricted cash	−13	19	−11	−110	97
Unrealized gain (loss) on marketable securities	70,000	173,000	−339,000	302,000	0

Filings

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