CMPX Compass Therapeutics
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Executive Summary
Compass Therapeutics announced a poster presentation at ASCO 2026 showing Phase 1 dose-escalation data for CTX-8371, a PD-1×PD-L1 bispecific antibody, in 15 patients with advanced malignancies post-checkpoint inhibitor. The data showed deep/durable responses in TNBC, HL, and NSCLC with no dose-limiting toxicities, and 33% ORR at the two highest dose levels. The company has initiated cohort expansions and expects additional data in Q4 2026.
Actionable Insight
CMPX has historically generated volatile reactions (T+5 range -6% to +17% on prior reports). The CTX-8371 data appear above consensus expectations for a bispecific in post-checkpoint setting — early, deep, durable responses with clean safety. The ASCO presentation (May 30) and Q4 data readout are the next catalysts. The clinical-story crowd may re-rate the stock if durability continues. Note the cross-filing amplifiers (press+activist, press+8k, press+offering) suggest follow-on financing or partnership context could be in play.
Key Facts
- 15 patients completed DLT evaluation in Phase 1 dose escalation of CTX-8371
- Three confirmed responses: TNBC (>90% reduction), HL (partial metabolic response), NSCLC (complete resolution after pseudo-progression)
- ORR of 33% at the two highest dose levels (3.0 and 10.0 mg/kg)
- Durable responses: TNBC 10.5+ months ongoing, HL 7.5+ months ongoing
- No DLTs; all AEs Grade 1-2 except one Grade 3 asymptomatic lipase increase
- Cohort expansions initiated in TNBC, HL, and NSCLC; additional data expected Q4 2026
- Poster presentation at ASCO 2026 on May 30, 2026
Financial Impact
Clinical-stage biotech with $340M market cap; positive early efficacy/safety data in post-checkpoint setting de-risks CTX-8371. Comparable early-stage checkpoint bispecific data have driven 20-40% moves; 33% ORR in a difficult-to-treat population is above typical expectations for single-agent checkpoint blockade.
Risk Factors
- Very small sample size (n=15; 3 responders); results may not replicate in larger cohorts
- Single-arm Phase 1 study — no control arm; response rate could weaken with more patients
- Clinical-stage biotech with high cash burn; stock is prone to binary swings on pipeline updates
- Prior reports on CMPX had a negative T+20 win rate (0%) and small negative T+20 alpha; historical calendar suggests this segment (score=7) has only 27% probability of up-move at T+20
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3299774 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 21, 2026
19d ago
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Press Release
| $2.07 $2.22 | ▲ +7.25% | ▲ +5.57% | $2.02 (−2.42%) |
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May 5, 2026
5w ago
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8-K
| $1.95 $1.83 | ▼ −6.15% | ▼ −8.14% | $2.02 (+3.59%) |
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Apr 29, 2026
5w ago
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DEFA14A
| $1.67 $1.95 | ▲ +16.77% | ▲ +13.66% | $2.02 (+20.96%) |
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Apr 27, 2026
6w ago
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8-K
| $1.79 $1.94 | ▲ +8.38% | ▲ +7.98% | $2.02 (+12.85%) |
|
Apr 27, 2026
6w ago
|
Press Release
| $1.79 $1.94 | ▲ +8.38% | ▲ +7.98% | $2.02 (+12.85%) |
|
Apr 24, 2026
6w ago
|
Press Release
| $1.79 $1.94 | ▲ +8.38% | ▲ +7.98% | $2.02 (+12.85%) |
|
Mar 5, 2026
13w ago
|
8-K / PRESS-RELEASE
| $5.53 $5.19 | ▼ −6.15% | ▼ −3.91% | $2.02 (−63.47%) |
US Market Status
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