The FDA feedback on tovecimig in Q3 2026 is the single most important near-term catalyst. A positive FDA interaction could de-risk the BLA submission and drive significant upside. Monitor for FDA meeting outcome and any ESMO data presentations in October.
Price Chart
Executive Summary
Compass Therapeutics reported Q2 2026 results with a net loss of $0.13 per share, slightly better than the $0.14 loss in the prior year period. The key catalyst is the upcoming FDA feedback on tovecimig for biliary tract cancer, with a potential BLA filing later this year, which represents the primary value driver for this pre-revenue biotech.
Key Financial Metrics
Key Facts
- Net loss for Q2 2026 was $25.2 million ($0.13/share) vs $19.9 million ($0.14/share) in Q2 2025
- Cash and marketable securities of $180 million as of June 30, 2026, expected to fund operations into 2028
- FDA feedback expected this quarter on tovecimig Phase 2/3 data for biliary tract cancer, ahead of potential BLA filing
- Tovecimig final ORR improved to 18.0% (p=0.0228) from previously reported 17.1%
- Tovecimig data selected for oral presentation at ESMO Congress in October 2026
- CTX-8371 cohort expansions actively enrolling; CTX-10726 Phase 1 first patients dosed; CTX-471 Phase 2 to initiate in Q3
Financial Impact
Pre-revenue clinical-stage biotech; $180M cash runway into 2028; net loss of $25.2M in Q2 2026
Risk Factors
- FDA feedback could be negative or require additional trials, delaying BLA submission
- Pre-revenue company with no approved products; relies on capital markets for funding beyond 2028
- Clinical trial risks across pipeline candidates (CTX-8371, CTX-10726, CTX-471) with no approved therapies
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-005292 |
| Document: f8k_080526.htm | 0001171843-26-005292 |
| Document: 0001171843-26-005292-index-headers.html | 0001171843-26-005292 |
| Document: 0001171843-26-005292-index.html | 0001171843-26-005292 |
| Document: 0001171843-26-005292.txt | 0001171843-26-005292 |
| 8-K Data (Synthetic) | 0001171843-26-005292 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 24, 2026 3d ago | Press Release | $0.7697 | awaiting T+20 | — | $0.7470 (−2.95%) |
Sep 22, 2026 4w ago | 8-K | $1.24 $0.8330 | ▲ +32.82% | ▲ +32.26% | $0.7470 (+39.76%) |
Aug 21, 2026 9w ago | Institutional Cluster | $2.40 $1.90 | ▼ −20.83% | ▼ −20.55% | $0.7470 (−68.88%) |
Aug 6, 2026 11w ago | 8-K | $1.99 $2.37 | ▲ +19.10% | ▲ +18.50% | $0.7470 (−62.46%) |
Aug 6, 2026 11w ago | Press Release | $1.99 $2.37 | ▲ +19.10% | ▲ +18.50% | $0.7470 (−62.46%) |
Jul 17, 2026 14w ago | Press Release | $2.05 $2.25 | ▲ +9.76% | ▲ +5.31% | $0.7470 (−63.56%) |
Jul 1, 2026 16w ago | 8-K | $2.27 $1.94 | ▼ −14.54% | ▼ −14.12% | $0.7470 (−67.09%) |
Jun 11, 2026 19w ago | Institutional Cluster | $2.03 $2.33 | ▲ +14.78% | ▲ +13.00% | $0.7470 (−63.20%) |
May 21, 2026 22w ago | Press Release | $2.07 $2.09 | ▲ +0.72% | ▲ +2.14% | $0.7470 (−63.91%) |
May 5, 2026 25w ago | 8-K | $1.95 $2.08 | ▲ +6.67% | ▲ +1.71% | $0.7470 (−61.69%) |
US Market Status
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