H.C. Wainwright Reiterates Buy Rating on Compass Therapeutics (CMPX)

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating and $24.00 price target on Compass Therapeutics (NASDAQ: CMPX).

The analyst commented: "Compass announced on April 21 that the first patient has been dosed in an Investigator Sponsored Trial (IST) to assess the company's lead asset, tovecimig, a DLL4xVEGF-A bispecific antibody, for the first time in the 1L setting for the treatment of BTC. Per management, the MD Anderson-led, open-label trial is evaluating the addition of tovecimig to the SoC 1L regimen of gemcitabine, cisplatin, and durvalumab in ~50 patients with unresectable or metastatic BTC. The study will have a standard safety run-in phase in 12 patients followed by an expansion phase in which 38 additional patients will be treated. The primary objectives of the study are to assess 6-month PFS, safety/tolerability, and to determine the maximum tolerated dose of tovecimig in this combination. Secondary objectives include ORR, DoR, PFS and OS. We believe this study presents a significant step forward in the tovecimig program, as this combination complements the ongoing Phase 2/3 COMPANION-002 study of the asset in 2L BTC. Reiterate Buy rating and $24 PT."

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Shares of Compass Therapeutics closed at $1.78 yesterday.

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