Compass Therapeutics, Inc. (CMPX), a clinical-stage biopharmaceutical company focused on oncology, announced on Wednesday the advancement of its new drug candidate, CTX-10726, a novel PD-1 x VEGF-A bispecific antibody, following a year of preclinical development.
The company expects to file an Investigational New Drug or IND application for CTX-10726 by the end of 2025, with initial clinical data anticipated in 2026.
Additionally, Compass provided an update on its ongoing clinical trials. The Phase 2/3 trial of tovecimig or formerly CTX-009, a DLL4 x VEGF-A bispecific antibody, in patients with advanced biliary tract cancer or BTC is on track to provide top-line data by the end of the first quarter 2025.
Pivotal trial, known as COMPANION-002, will assess the combination of tovecimig and paclitaxel in these patients.
The company also announced plans for two Phase 2 biomarker trials scheduled to begin in mid-2025:
-- Tovecimig will be tested in DLL4-positive colorectal cancer patients in the second-line setting.
-- CTX-471, a CD137 agonist antibody, will be evaluated in NCAM/CD56-expressing tumors.
Compass is progressing with CTX-8371, a PD-1 x PD-L1 bispecific antibody, and expects to report preliminary data from its Phase 1 trial in the second half of 2025.
With an estimated $127 million in cash and marketable securities at the end of 2024, the company is well-funded, with its cash runway extending into the first quarter 2027.
"We are excited to advance CTX-10726 into clinical development and look forward to the top-line data readout for tovecimig in BTC later this quarter," said Thomas Schuetz, MD, PhD, CEO of Compass Therapeutics.
Compass Therapeutics is committed to developing innovative antibody-based therapies to address critical cancer pathways, with ongoing efforts to target both angiogenesis and immune response modulation.
The company had cash balance of $135 million in cash and marketable securities as of September 30, 2024, which is expected to provide cash runway into the first quarter of 2027.
Currently, CMPX is trading at $2 up by 35.69%.
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