COMPASS Pathways (CMPS) Piper Sandler 36th Annual Healthcare Conference summary

Pipeline overview and financial position

• Three clinical-stage drugs: two bispecific antibodies and one monoclonal antibody, with a strong cash position of $135 million, providing runway into 2027.

• Lead program CTX-009, a DLL4 VEGF-A bispecific antibody, is in a randomized trial for biliary tract cancer, with prior phase II data showing high response rates.

• Additional programs include CTX-471 (CD137 agonist) and a PD-1/PD-L1 bispecific antibody, both showing promising early clinical activity.

CTX-009 clinical data and development

• Phase II study in biliary tract cancer showed a 37.5% response rate, median PFS of 9.4 months, and OS of 12.5 months, outperforming standard regimens.

• Randomized trial underway compares CTX-009 plus paclitaxel to paclitaxel alone, aiming to establish a new second-line standard of care.

• U.S. claims data suggest over 15,000 annual patients could be eligible, representing a potential $1 billion+ market.

• Top-line data from the randomized trial expected by end of Q1 next year, with commercialization preparations ongoing.

Expansion and future plans

• Investigator-sponsored study to test CTX-009 in front-line combination therapy is set to begin soon.

• Plans to explore CTX-009 in DLL4-positive colorectal cancer, aiming to replace Avastin in its indications.

• Preclinical VEGF-IO bispecific program expected to nominate a development candidate and enter the clinic within a year.