Compass Therapeutics (CMPX) H.C. Wainwright 26th Annual Global Investment Conference 2024 summary

Pipeline overview and clinical progress

• Three clinical-stage drugs: DLL4 VEGF-A bispecific (009), CD137 agonist (CTX-471), and PD-1/PD-L1 bispecific (8371).

• Lead asset 009 is in late-stage trials for biliary tract and colorectal cancers.

• COMPANION-002, a randomized study in advanced biliary tract cancer, is fully enrolled with top-line data expected end of Q1 next year.

• Phase II colorectal cancer study completed; planning a second-line study with FOLFOX.

• CTX-471 completed phase I; biomarker-driven phase II study planned.

Key clinical data and efficacy signals

• 009 showed confirmed monotherapy responses in advanced cancers, with dose-dependent efficacy at ≥10 mg/kg.

• Combination with paclitaxel or irinotecan led to deep, durable responses in cholangiocarcinoma patients.

• Phase II biliary tract cancer study: 37.5% overall response rate, median PFS 9.4 months, OS 12.5 months.

• Second-line response rate reached 64%, informing current randomized trial design.

• Colorectal cancer phase II: 71% disease control, median OS 10.2 months, outperforming current third/fourth-line therapies.

Market opportunity and strategic direction

• Biliary tract cancer affects ~23,000 annually in the US; ~15,000 eligible for second-line therapy.

• U.S. market potential exceeds $1 billion annually at conservative pricing.

• Plans to pursue broad second-line label in biliary tract cancer and initiate a frontline study at MD Anderson.

• Colorectal cancer next steps include a second-line study combining 009 with FOLFOX.