Compass Therapeutics (CMPX) Rated 'Outperform' amid Clinical Pipeline Development

Compass Therapeutics, Inc. (NASDAQ:CMPX) is one of the top multibagger penny stocks to buy, according to analysts. On August 11, Raymond James reiterated its ‘Outperform’ rating with a $9 price target following the company’s second-quarter financial results.

The company reported a net loss of $19.9 million, or $0.14 per share, compared to a net loss of $18.56 million, or $0.13 per share, as Raymond James had expected. Compass exited the quarter with $101 million in cash and cash equivalents sufficient to finance operations to 2027.

During the quarter, the company’s tovecimig in Phase 2/3 met its primary endpoint of overall response rate. Buoyed by the positive preliminary results, Compass Therapeutics is updating its guidance on the secondary endpoint to the first quarter of 2026. In addition, the company confirmed that CTX-10726, a PD-1XVEGF bispecific antibody, is on track for an IND submission in the fourth quarter.

“CTX-10726 has the potential to be a differentiated drug candidate in this class. CTX-10726 was discovered in-house at Compass and leverages our broad expertise in bispecific antibody drug development, including bispecific manufacturing processes, which are already at commercially viable yields,” said Thomas Schultz, MD, PhD, and Chief Executive Officer.

Compass Therapeutics, Inc. (NASDAQ:CMPX) is a clinical-stage oncology-focused biopharmaceutical company that engages in the development of antibody-based therapeutics for the treatment of various human diseases in the United States. The company’s lead product candidates include tovecimig, a bispecific antibody that blocks Delta-like ligand 4 (DLL4) and vascular endothelial growth factor.

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Disclosure: None. This article is originally published at Insider Monkey.