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what it is
Compass Therapeutics develops 3 antibody-based cancer drugs.
how it gets paid
Last year Compass Therapeutics made $0 in revenue.
why growth slowed
Revenue fell 100.0% last year. Annual revenue stayed at $0, so every move in the stock depends on pipeline updates.
what just happened
Compass posted $0 in revenue and a -$0.34 EPS, so the business is still all science, no sales.
At a glance
B balance sheet — gets the job done, barely
-$0.36 fy2024 eps est
$1M fy2024 rev est
1.75 beta
~$935M market cap
xvary composite: 62/100 — average
What they do
Compass Therapeutics develops 3 antibody-based cancer drugs.
You are backing 3 clinical programs, not a sales machine. The company has 35 employees, so a small team is trying to move all 3 shots on goal at once. The contrast is brutal: $0 revenue today versus a $935M market value built on future trial data.
How they make money
$0
annual revenue · revenue declined -100.0% last year
The products that matter
lead oncology antibody candidate
tovecimig
~$935M market cap rides on it
this is the lead asset behind a company worth roughly $935M despite just $1M in annual revenue. If the data works, the story survives. If it doesn't, the valuation has very little operating business to lean on.
lead asset
earlier-stage research portfolio
preclinical pipeline
$1.14M 2026 revenue est
these are future shots on goal in a business still expected to generate only $1.14M of revenue in 2026. That tells you the pipeline has narrative value today, not commercial value yet.
option value
Key numbers
$0
annual revenue
No sales means the stock trades on trial data, not customer demand.
$9M
long-term debt
The debt is small versus a $935M market cap, but it still sits on the balance sheet.
1.75
beta
A 1.75 beta means the stock has moved 75% more than the market on average.
35
employees
A 35-person company has little room for sloppy execution.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 1 — safer than 95% of stocks
- price stability 5 / 100
- long-term debt $9M (1% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CMPX right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Compass posted $0 in revenue and a -$0.34 EPS, so the business is still all science, no sales.
EDGAR shows annual revenue of $0, and the latest quarter was also $0. The company is still funding clinical work instead of collecting product revenue.
$0
revenue
-$0.34
eps
100.0%
gross margin
the number that mattered
Annual revenue stayed at $0, so every move in the stock depends on pipeline updates.
source: EDGAR and company earnings report, 2026
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What could go wrong
the top risk here is tovecimig failing to support a valuation premium in a business with almost no revenue.
med
binary clinical readouts
CMPX is a lead-asset story. When a ~$935M company produces just $1M in revenue, one disappointing data set can break both the narrative and the multiple at the same time.
The operating business is too small to cushion a bad result.
med
valuation compression
CMPX trades at 5.0x book versus 2.6x for biotech peers. That's roughly a 92% premium to the group before commercialization has shown up.
If the stock merely drifts toward the peer average, a large part of today's premium disappears without any change in the science.
med
cash burn and future financing
Quarterly net loss moved to -$14.3M from -$10.5M from a year ago. With revenue still expected at only $1.14M in 2026, pipeline progress can still mean new capital needs.
That raises the odds of dilution showing up before revenue does.
With just $1M of revenue against a -$14.3M quarterly loss, CMPX is not carrying business-model risk and clinical risk separately. They are the same risk.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
tovecimig data timing
This is the main catalyst. A lot of a ~$935M valuation sits on whether the lead program keeps the story intact.
metric
quarterly loss trend
Q3 2025 net loss was -$14.3M. If that number keeps rising while revenue stays around $1M, financing risk gets louder.
trend
commercial expectations
Street revenue for 2026 is just $1.14M. You want to see whether that stays symbolic or starts to reflect a real path to sales.
risk
premium vs. biotech peers
The stock trades at 5.0x book against 2.6x for peers. That gap is not just valuation trivia. It's the part of the share price most exposed to disappointment.
Analyst rankings
coverage depth
thin
There is not enough broad published ranking coverage here to lean on consensus. In human-speak, you are not getting much help from the crowd.
risk rank
1
Model-based distress risk looks low. Translation: the balance sheet is not the immediate problem. The stock can still be volatile.
price stability
5 / 100
This sits near the bottom of the stability scale. You should expect sharp moves when clinical expectations shift.
source: institutional data
Institutional activity
institutional ownership data for CMPX is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$6
current price
n/a
target midpoint · n/a from current
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