$CMPX

Compass Therapeutics, Inc.

CIK:0001738021|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 19,576	$ 16,415	$ 32,968	$ 29,476
General and administrative	7,403	4,651	14,310	9,556
Total operating expenses	26,979	21,066	47,278	39,032
Loss from operations	(26,979)	(21,066)	(47,278)	(39,032)
Interest income	1,825	1,185	3,807	2,518
Net loss	$ (25,154)	$ (19,881)	$ (43,471)	$ (36,514)
Net loss per share - basic and diluted (in dollars per share)	$ (0.13)	$ (0.14)	$ (0.23)	$ (0.26)
Basic and diluted weighted average shares outstanding (in shares)	186,798	138,282	186,600	138,259
Other comprehensive loss:
Net loss	$ (25,154)	$ (19,881)	$ (43,471)	$ (36,514)
Unrealized (loss) gain on marketable securities	(92)	18	(531)	(2)
Comprehensive loss	$ (25,246)	$ (19,863)	$ (44,002)	$ (36,516)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (43,471)	$ (36,514)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	36	240
Share-based compensation	9,895	5,305
Amortization of premium and discount on marketable securities	(404)	(102)
ROU asset amortization	708	491
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(98)	783
Accounts payable	1,321	346
Accrued expenses	202	4,705
Operating lease liability	(196)	(294)
Net cash used in operating activities	(32,007)	(25,040)
Cash flows from investing activities:
Purchase of property and equipment	(258)	(18)
Purchases of marketable securities	(85,430)	(58,005)
Proceeds from sale or maturities of marketable securities	119,140	63,251
Net cash provided by investing activities	33,452	5,228
Cash flows from financing activities:
Proceeds from exercise of common stock	3,854	0
Taxes paid related to net shares settlement of RSUs	(489)	(815)
Net cash provided by (used in) financing activities	3,365	(815)
Net change in cash, cash equivalents and restricted cash	4,810	(20,627)
Cash, cash equivalents and restricted cash at beginning of period	31,211	44,051
Cash, cash equivalents and restricted cash at end of period	36,021	23,424
Reconciliation of cash, cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets
Cash and cash equivalents	35,453	22,856
Restricted cash	568	568
Total cash, cash equivalents and restricted cash	36,021	23,424
Supplemental disclosure of cash flow information
Unrealized loss on marketable securities	$ 531	$ 2

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 35,453	$ 30,643
Marketable securities	144,426	178,263
Prepaid expenses and other current assets	1,011	913
Total current assets	180,890	209,819
Property and equipment, net	324	102
Operating lease, right-of-use ("ROU") asset	8,391	9,099
Restricted cash	568	568
Total assets	190,173	219,588
Current liabilities:
Accounts payable	2,906	1,585
Accrued expenses	11,585	11,383
Operating lease obligations, current portion	1,637	1,000
Total current liabilities	16,128	13,968
Operating lease obligations, long-term portion	7,996	8,829
Total liabilities	24,124	22,797
Commitments and Contingencies
Stockholders' equity:
Common stock, $0.0001 par value: 300,000 shares authorized; 180,088 and 178,324 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	18	18
Additional paid-in-capital	640,925	627,665
Accumulated other comprehensive income (loss)	(251)	280
Accumulated deficit	(474,643)	(431,172)
Total stockholders' equity	166,049	196,791
Total liabilities and stockholders' equity	$ 190,173	$ 219,588