Compass Therapeutics (CMPX) 44th Annual J.P. Morgan Healthcare Conference summary

Pipeline and clinical progress

• Four clinical-stage monoclonal antibody programs in oncology, with a fifth entering the clinic soon.

• Tovecimig, a DLL4/VEGF-A bispecific antibody, is the most advanced, showing significant efficacy in advanced biliary tract cancer and other solid tumors.

• CTX-471, a CD137 agonist, demonstrated responses in post-PD-1 melanoma and small cell lung cancer, with NCAM identified as a potential biomarker.

• CTX-8371, a PD-1/PD-L1 bispecific, showed responses in post-checkpoint patients with solid and hematologic malignancies.

• CTX-10726, a PD-1/VEGF-A bispecific, is entering Phase I with preclinical data suggesting superior activity to competitors.

Key clinical results and upcoming milestones

• Tovecimig met its primary endpoint in a randomized trial, tripling overall response rate in second-line biliary tract cancer.

• Secondary endpoints (PFS, OS) are expected to read out later this quarter, with early data suggesting improved survival.

• If positive, a BLA submission and potential U.S. launch could occur in the first half of 2027.

• Expansion studies are planned for DLL4-positive tumors and combination regimens.

• CTX-471 and CTX-8371 are advancing with basket and cohort expansion studies, targeting biomarker-driven populations.

Commercial strategy and market opportunity

• U.S. market for second-line biliary tract cancer estimated at 15,000 treatable patients annually, representing a >$1B opportunity.

• Plans to commercialize tovecimig independently in the U.S., with infrastructure buildout underway.

• Strategic partnerships are being considered for ex-U.S. markets and for assets in competitive spaces.

• New Chief Commercial Officer and Chief Medical Officer recently appointed to support commercialization and clinical strategy.

• Focused commercial approach targets academic referral centers treating complex biliary tract cases.