Compass Therapeutics (CMPX) Piper Sandler 36th Annual Healthcare Conference summary

Pipeline overview and clinical progress

• Three clinical-stage drugs: two bispecific antibodies and one monoclonal antibody, with a fourth candidate expected to enter the clinic next year.

• Lead program CTX009, a DLL4 VEGF-A bispecific antibody, showed high response rates in biliary tract cancer and is in a randomized trial to support a potential U.S. license application.

• Phase II study in colorectal cancer showed monotherapy responses, with plans for further studies in DLL4-positive patients.

• CD137 agonist antibody (471) demonstrated strong responses in post-checkpoint inhibitor patients, with a biomarker (CD56) identified for response prediction.

• PD-1/PD-L1 bispecific antibody is in phase I dose escalation, showing unique mechanism and high potency in preclinical studies.

Key clinical data and trial design

• CTX009 plus paclitaxel in biliary tract cancer achieved a 37.5% response rate, median PFS of 9.4 months, and OS of 12.5 months, outperforming standard regimens.

• Randomized trial compares CTX009 plus paclitaxel to paclitaxel alone, powered to detect a 33% vs. 10% response rate difference.

• Safety profile consistent with VEGF blockade, with hypertension as the most common adverse event.

• MD Anderson to initiate a front-line study adding CTX009 to standard chemotherapy and immunotherapy.

• Top-line readout from the randomized trial expected by end of Q1 next year.

Market opportunity and commercialization plans

• Over 23,000 new biliary tract cancer patients annually in the U.S., with more than 15,000 potentially eligible for second-line therapy.

• Estimated U.S. market opportunity exceeds $1 billion annually based on patient numbers and pricing assumptions.

• Commercialization preparations underway, with clinical data to guide launch strategy.