Compass Therapeutics (CMPX) shares soared to a 52-week high, reaching a price level of $2.68. According to InvestingPro data, analysts have set price targets ranging from $4 to $32, suggesting significant potential upside. This milestone reflects a significant uptrend for the biopharmaceutical company, which has been focusing on the discovery and development of antibody-based therapies. The stock has demonstrated remarkable momentum, with InvestingPro data showing a 135% surge over the past six months and a robust 33% gain in just the last week. The company maintains a healthy balance sheet with a current ratio of 31.84, though technical indicators suggest the stock may be approaching overbought territory. The 52-week high serves as a testament to the company's progress and the market's optimistic outlook on its future prospects. (Discover 11 more exclusive InvestingPro Tips for CMPX's outlook.)
In other recent news, Compass Therapeutics reported progress on its clinical development programs, including the anticipated top-line data for its Phase 2/3 study of tovecimig in biliary tract cancer patients, expected by the end of the first quarter of 2025. The company also announced the advancement of CTX-10726, a novel PD-1 x VEGF-A bispecific antibody, following a year of preclinical development, with an Investigational New Drug application expected to be filed by the end of 2025. Compass Therapeutics ended 2024 with an estimated $127 million in cash and marketable securities, projected to fund operations into the first quarter of 2027.
In other recent developments, Compass Therapeutics has appointed Barry Shin as its new Chief Financial Officer, bringing over 20 years of experience in the biopharmaceutical industry to the role. The company's CTX-009 treatment for biliary tract cancers and colorectal cancer has caught the attention of Ladenburg Thalmann, leading to an upgrade from a Neutral to a Buy rating. Jefferies has also maintained a Buy rating for the company.
Compass Therapeutics has made changes to its board of directors, adding Ellen V. Chiniara, J.D., and Mary Ann Gray, Ph.D. The company also welcomed a new President and Chief Executive Officer, Thomas Schuetz, M.D., Ph.D. Lastly, the company recently presented promising preclinical data at the American Association for Cancer Research Annual Meeting, highlighting the potential effectiveness of its proprietary antibodies, CTX-009 and CTX-471, against tumors resistant to current immune-oncology therapies.
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