Compass Therapeutics Q2 2024 Update
Ticker: CMPX · Form: 10-Q · Filed: Aug 12, 2024 · CIK: 1738021
| Field | Detail |
|---|---|
| Company | Compass Therapeutics, Inc. (CMPX) |
| Form Type | 10-Q |
| Filed Date | Aug 12, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001, $000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, biotech, clinical-trials, partnerships
TL;DR
Compass Therapeutics Q2 2024 10-Q filed. Pipeline progress and partnerships with Elpiscience & Adimab detailed.
AI Summary
Compass Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported on its ongoing clinical trials and strategic agreements, including those with Elpiscience and Adimab. Financial details and operational updates are provided for the second quarter of 2024.
Why It Matters
This filing provides insight into Compass Therapeutics' progress in its drug development pipeline and its partnerships, which are crucial for its future growth and financial performance.
Risk Assessment
Risk Level: medium — Biotech companies like Compass Therapeutics are inherently risky due to the long and uncertain drug development process and regulatory hurdles.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which the report is filed.)
- 20240812 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Compass Therapeutics, Inc. (company) — Filer
- Elpiscience (company) — Partner in agreement
- Adimab (company) — Partner in agreement
- ABL Bio (company) — Partner in agreement
- 20240630 (date) — End of reporting period
FAQ
What is the primary business of Compass Therapeutics, Inc.?
Compass Therapeutics, Inc. is primarily involved in the development of biological products, specifically in the area of oncology and ophthalmology, as indicated by its SIC code and agreement mentions.
What were the key agreements mentioned in the filing period?
The filing mentions ongoing agreements with Elpiscience and Adimab, and references past agreements with ABL Bio.
What is the fiscal year end for Compass Therapeutics?
The fiscal year end for Compass Therapeutics is December 31st.
When was Compass Therapeutics formerly known as?
Compass Therapeutics was formerly known as Olivia Ventures, Inc., with a name change date of April 19, 2018.
What is the SEC file number for Compass Therapeutics?
The SEC file number for Compass Therapeutics is 001-39696.
Filing Stats: 4,565 words · 18 min read · ~15 pages · Grade level 13.3 · Accepted 2024-08-12 08:00:41
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share CMPX Nasdaq Cap
- $000 — 000's) Per Share Term (in years) ($000's) Outstanding at December 31, 2023
Filing Documents
- cmpx20240630_10q.htm (10-Q) — 885KB
- ex_706317.htm (EX-31.1) — 13KB
- ex_706318.htm (EX-32.1) — 6KB
- 0001171843-24-004670.txt ( ) — 4449KB
- cmpx-20240630.xsd (EX-101.SCH) — 40KB
- cmpx-20240630_def.xml (EX-101.DEF) — 261KB
- cmpx-20240630_lab.xml (EX-101.LAB) — 241KB
- cmpx-20240630_pre.xml (EX-101.PRE) — 292KB
- cmpx-20240630_cal.xml (EX-101.CAL) — 32KB
- cmpx20240630_10q_htm.xml (XML) — 701KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets (Unaudited) 1 Condensed Consolidated Statements of Operations (Unaudited) 2 Condensed Consolidated Statements of Stockholders ' Equity (Unaudited) 3 Condensed Consolidated Statements of Cash Flows (Unaudited) 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.
Controls and Procedures
Controls and Procedures 21 PART II. OTHER INFORMATION 22 Item 1.
Legal Proceedings
Legal Proceedings 22 Item 1A.
Risk Factors
Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 23
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Compass Therapeutics, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (In thousands, except par value) June 30, 2024 (unaudited) December 31, 2023 (Note 1) Assets Current assets: Cash and cash equivalents $ 19,404 $ 24,228 Marketable securities 126,823 128,233 Prepaid expenses and other current assets 7,319 1,420 Total current assets 153,546 153,881 Property and equipment, net 592 898 Operating lease, right-of-use ("ROU") asset 1,153 1,776 Other assets 320 320 Total assets $ 155,611 $ 156,875 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,192 $ 4,090 Accrued expenses 7,227 2,514 Operating lease obligations, current portion 1,088 1,197 Total current liabilities 9,507 7,801 Operating lease obligations, long-term portion — 536 Total liabilities 9,507 8,337 Commitments and contingencies (Note 7) Stockholders' equity: Common stock, $ 0.0001 par value: 300,000 shares authorized; 137,589 and 127,668 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 14 13 Additional paid-in-capital 485,352 463,796 Accumulated other comprehensive (loss) income ( 91 ) 37 Accumulated deficit ( 339,171 ) ( 315,308 ) Total stockholders' equity 146,104 148,538 Total liabilities and stockholders' equity $ 155,611 $ 156,875 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Compass Therapeutics, Inc. and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (In thousands, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Licensing revenue $ 850 $ — $ 850 $ — Operating expenses: Research and development $ 11,174 $ 10,223 $ 20,695 $ 16,862 General and administrative