Compass Therapeutics (CMPX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright remains neutral on the stock and has a $10.00 price target.
Joseph Pantginis has given his Buy rating due to a combination of factors surrounding Compass Therapeutics’s ongoing clinical developments and their potential impact on the company’s future. The analyst’s optimism stems from several key pipeline updates that are expected to occur, including the anticipated completion of enrollment in the Phase 2/3 COMPANION-002 study by mid-year 2024 and the expected availability of top-line data in the second half of 2024. This study, investigating CTX-009 in combination with paclitaxel for biliary tract cancer, is a significant component of Compass’s clinical program. Additionally, the extended enrollment for the Phase 2 COMPANION-003 study for CTX-009 in advanced metastatic colorectal cancer patients is seen as a positive step, with results due to be reported in the near future.
The report further highlights the encouraging clinical activity observed in the Phase 1b Monotherapy Study, including a complete response in a patient with small cell lung cancer and a new partial response in a patient with advanced melanoma. These findings contribute to an overall response rate of 27% in the subset of advanced melanoma patients, which supports the potential effectiveness of Compass’s therapies. Furthermore, the advancement of the CTX-471 study in combination with pembrolizumab for patients with solid tumors is progressing well, with full enrollment in the dose-escalation segment and commencement of dose expansion cohorts. The recent FDA clearance for an Investigational New Drug (IND) for CTX-8371, a bispecific checkpoint inhibitor, also adds to the positive outlook, with dosing for the first patient in the Phase 1 trial expected to begin soon. These developments, coupled with a strong cash position that is projected to sustain operations through mid-year 2026, underscore the reasons for Pantginis’s Buy rating on Compass Therapeutics.
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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.
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