Compass Therapeutics (CMPX) Stock Forecast & Price Target

Compass Therapeutics is supported by a differentiated antibody platform and a maturing pipeline, including CTX-8371, CTX-10726, and CTX-471, that could broaden optionality beyond tovecimig. Its lead program has shown meaningful clinical activity in 2L BTC, with ORR of 18.0%, PFS of 4.7 months versus 2.6 months, and a hazard ratio of 0.44, while crossover data also suggest activity across treatment sequence. The company also appears financially positioned to advance development, with roughly $179.9MM to $180MM in cash and runway into 2028, reducing near-term dilution risk as investors wait for data expected in 4Q26 and regulatory clarity.

Compass Therapeutics is facing a materially weakened regulatory path for tovecimig, because the FDA has recommended an additional survival-benefit trial before BLA submission even after COMPANION-002 showed ORR of 18.0% versus 5.3% and mPFS of 4.7 versus 2.6 months. The company’s refusal to pause for a confirmatory study leaves the filing strategy exposed, and the lack of FDA clarification plus no meeting in August 2026 increases the risk that the agency’s stance remains unchanged through the planned 1H27 filing and possible 1H28 ODAC. With tovecimig revenue removed from the model, high toxicity burden including 69% hypertension and 36% grade 3+ neutropenia further clouds benefit-risk, leaving valuation dependent on earlier-stage assets that are still unproven.