I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q2, the actual value is USD 0.
EPS: As of FY2026 Q2, the actual value is USD -0.13.
EBIT: As of FY2026 Q2, the actual value is USD -25.15 M.
Financial Performance
Net Loss
Compass Therapeutics, Inc. reported a net loss of - $25.2 million for the quarter ended June 30, 2026, compared to - $19.9 million for the same period in 2025. For the six months ended June 30, 2026, the net loss was - $43.5 million, compared to - $36.5 million for the same period in 2025. The net loss per common share was - $0.13 for Q2 2026, an improvement from - $0.14 per common share in Q2 2025. For the six months ended June 30, 2026, the net loss per common share was - $0.23, an improvement from - $0.26 per common share in the prior year period. The loss from operations for Q2 2026 was - $26.979 million, compared to - $21.066 million in Q2 2025. For the six months ended June 30, 2026, the loss from operations was - $47.278 million, compared to - $39.032 million in the prior year period.
Research and Development (R&D) Expenses
R&D expenses increased by $3.2 million (19%) to $19.6 million for the quarter ended June 30, 2026, from $16.4 million in the same period of 2025, primarily due to a $2.6 million increase related to tovecimig. For the six months ended June 30, 2026, R&D expenses rose by $3.5 million (12%) to $33.0 million, from $29.5 million in 2025, driven mainly by a $2.5 million increase in stock compensation expense and a $1.3 million increase in manufacturing expense.
General and Administrative (G&A) Expenses
G&A expenses for the quarter ended June 30, 2026, were $7.4 million, an increase of $2.7 million (59%) from $4.7 million in Q2 2025, primarily due to $1.4 million in pre-commercialization expenses and $0.8 million in higher stock compensation expense. For the six months ended June 30, 2026, G&A expenses increased by $4.7 million (50%) to $14.3 million, from $9.6 million in 2025, primarily due to a $3.1 million increase in pre-commercialization expenses and a $2.1 million increase in stock compensation expense.
Interest Income
Interest income for Q2 2026 was $1.825 million, up from $1.185 million in Q2 2025. For the six months ended June 30, 2026, interest income was $3.807 million, compared to $2.518 million in the prior year period.
Cash Position
As of June 30, 2026, Compass Therapeutics, Inc. held $180 million in cash and marketable securities, a decrease of $29 million from $209 million as of December 31, 2025.
Cash Flow
During the first six months of 2026, - $32 million net cash was used in operating activities, partially offset by $3 million cash provided by financing activities.
Operational Metrics
Tovecimig (DLL4 x VEGF-A bispecific antibody)
In April 2026, Compass Therapeutics, Inc. announced positive data from its Phase 2⁄3 study of tovecimig, with the overall response rate (ORR) improving to 18.0% (20⁄111 patients) in the tovecimig combination arm, showing a p-value of 0.0228 compared to paclitaxel alone (ORR of 5.3%). Investigator-sponsored trials (ISTs) for tovecimig are ongoing in indications such as biliary tract cancer (BTC), colorectal cancer, and glioblastoma.
CTX-8371 (PD-1 x PD-L1 bispecific antibody)
Cohort expansions for CTX-8371 are actively enrolling patients with triple-negative breast cancer (n=28), non-small cell lung cancer (n=28), and Hodgkin lymphoma (n=12) in the post-checkpoint inhibitor setting.
CTX-10726 (PD-1 x VEGF-A bispecific antibody)
The first patients have been dosed in the actively enrolling Phase 1 study for CTX-10726, a tetravalent PD-1 x VEGF-A bispecific antibody engineered by the company that exhibits more potent PD-1 blockade compared to other drugs in its class. The multi-center study will include four doses (0.3, 1.0, 3.0, and 10.0 mg/kg) in a 3+3 dose-escalation design, enrolling patients with specific solid tumor indications where standard therapies have failed.
CTX-471 (CD137 or 4-1BB agonist antibody)
The Phase 2 trial of CTX-471 in patients with tumors expressing NCAM (CD56) is scheduled to be initiated in Q3 2026.
Outlook / Guidance
Compass Therapeutics, Inc. expects feedback from the FDA in Q3 2026 regarding tovecimig Phase 2⁄3 data, ahead of a potential Biologics License Application (BLA) filing later in 2026. Initial clinical data for CTX-10726 and additional data from CTX-8371 cohort expansions are anticipated in Q4 2026. The company’s cash and marketable securities of $180 million as of Q2 2026 are projected to fund operations into 2028.