Compass Therapeutics, Inc. (CMPX)

NASDAQHealth CareBiotechnologySnapshot 2026-10-23

$0.76-5.05%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Compass Therapeutics, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	0
EPS	—	-0.137
Annual ending 2026-12-31
Revenue	—	39.32M
EPS	—	-0.496
Annual ending 2027-12-31
Revenue	—	10.15M
EPS	—	-0.559

Management figures unavailable.

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Cash burn from operations stays near -$17.3M or improves	The company controls operating losses near -$20.3M and manages cash burn around -$17.3M.	Broken	Cash burn worsens beyond -$17.3M next quarter	Cash from operations: $-13.417M FY2026-Q2; GAAP. Published target: >= -$17.3M cash burn next quarter. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Aug 6, 2026-13,417,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Operating losses remain near -$20.3M or improve	The company controls operating losses near -$20.3M and manages cash burn around -$17.3M.	Broken	Operating loss worsens beyond -$20.3M next quarter	Operating income: $-26.979M FY2026-Q2; GAAP. Published target: >= -$20.3M operating loss next quarter. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Aug 6, 2026-26,979,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 89a7a7bd-5f74-4efb-a2f4-89474cbe18ad. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
FDA path advances after Tovecimig trial win	Compass Therapeutics advances with FDA path confirmation after Tovecimig trial win.	Under Pressure	No FDA path progress or negative regulatory news by end 2026	Qualitative: FDA path confirmed Jun 2026, but Wedbush downgrade Sep 2026 cites trial concerns June 2026 news confirmed FDA path after Tovecimig win; September 2026 Wedbush downgrade raised concerns over clinical trial progress. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue grows from $0 in 2026 to >$25M in 2027	A supporting condition in Compass Therapeutics, Inc.'s published investment case. The stated target is Revenue >= $25M in FY 2027.	Intact	Revenue fails to reach $25M in 2027	Revenue: $0 FY2026-Q2; GAAP. Published target: Revenue >= $25M in FY 2027. Target period is not explicitly aligned with this observation. Source published Aug 6, 20260 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$-0.56

$-0.46 → $-0.56 · observed estimates

FY2027 revenue$0.01B

$0.03B → $0.01B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-0.46	$25,270,153	12 / 11
2026-07-25	$-0.46	$25,270,153	12 / 11
2026-07-26	$-0.46	$25,270,153	12 / 11
2026-07-27	$-0.46	$25,268,860	12 / 14
2026-07-28	$-0.46	$25,268,860	12 / 14
2026-07-29	$-0.46	$25,270,153	12 / 11
2026-07-30	$-0.46	$25,268,860	12 / 14
2026-07-31	$-0.46	$25,268,860	12 / 14
2026-08-01	$-0.46	$25,270,153	12 / 11
2026-08-02	$-0.46	$25,268,860	12 / 14
2026-08-03	$-0.46	$25,268,860	12 / 14
2026-08-04	$-0.46	$25,270,153	12 / 11
2026-08-05	$-0.46	$25,270,153	12 / 11
2026-08-06	$-0.46	$25,270,153	12 / 11
2026-08-07	$-0.46	$25,270,153	12 / 11
2026-08-08	$-0.44	$26,920,310	11 / 13
2026-08-09	$-0.44	$26,920,310	11 / 13
2026-08-10	$-0.44	$26,920,310	11 / 13
2026-08-11	$-0.46	$25,270,153	12 / 11
2026-08-12	$-0.46	$25,270,153	12 / 11
2026-08-13	$-0.46	$25,270,153	12 / 11
2026-08-14	$-0.46	$25,270,153	12 / 11
2026-08-15	$-0.46	$25,270,153	11 / 11
2026-08-16	$-0.46	$25,270,153	11 / 11
2026-08-17	$-0.46	$25,270,153	11 / 11
2026-08-18	$-0.46	$25,270,153	11 / 11
2026-08-19	$-0.46	$25,270,153	11 / 11
2026-08-20	$-0.54	$23,324,153	11 / 11
2026-08-21	$-0.54	$23,324,153	11 / 11
2026-08-22	$-0.55	$23,324,153	11 / 11
2026-08-23	$-0.55	$23,324,153	11 / 11
2026-08-24	$-0.55	$23,324,153	11 / 11
2026-08-25	$-0.55	$23,324,153	11 / 11
2026-08-26	$-0.55	$23,324,153	11 / 11
2026-08-27	$-0.55	$23,324,153	11 / 11
2026-08-28	$-0.55	$23,324,153	11 / 11
2026-08-29	$-0.55	$23,324,153	11 / 11
2026-08-30	$-0.55	$23,324,153	11 / 11
2026-08-31	$-0.55	$23,324,153	11 / 11
2026-09-01	$-0.55	$23,324,153	11 / 11
2026-09-02	$-0.55	$23,324,153	11 / 11
2026-09-03	$-0.55	$23,324,153	11 / 11
2026-09-04	$-0.55	$23,324,153	11 / 11
2026-09-05	$-0.55	$23,324,153	11 / 11
2026-09-06	$-0.55	$23,324,153	11 / 11
2026-09-07	$-0.55	$23,324,153	11 / 11
2026-09-08	$-0.55	$23,324,153	11 / 11
2026-09-09	$-0.55	$23,324,153	11 / 11
2026-09-10	$-0.55	$23,324,153	11 / 11
2026-09-11	$-0.55	$23,324,153	11 / 11
2026-09-12	$-0.55	$23,324,153	11 / 11
2026-09-13	$-0.55	$23,324,153	11 / 11
2026-09-14	$-0.55	$23,324,153	11 / 11
2026-09-15	$-0.55	$23,324,153	11 / 11
2026-09-16	$-0.55	$23,324,153	11 / 11
2026-09-17	$-0.55	$23,324,153	11 / 11
2026-09-18	$-0.55	$23,324,153	11 / 11
2026-09-19	$-0.55	$23,324,153	11 / 11
2026-09-20	$-0.55	$23,324,153	11 / 11
2026-09-21	$-0.55	$23,324,153	11 / 11
2026-09-22	$-0.55	$23,324,153	11 / 11
2026-09-23	$-0.55	$12,877,429	11 / 10
2026-09-24	$-0.56	$10,153,714	11 / 11
2026-09-25	$-0.56	$10,153,714	11 / 10
2026-09-26	$-0.56	$10,153,714	11 / 10
2026-09-27	$-0.56	$10,153,714	11 / 10
2026-09-28	$-0.56	$10,153,714	11 / 10
2026-09-29	$-0.56	$10,153,714	11 / 10
2026-09-30	$-0.56	$10,153,714	11 / 10
2026-10-01	$-0.56	$10,153,714	11 / 10
2026-10-02	$-0.56	$10,153,714	11 / 10
2026-10-03	$-0.56	$10,153,714	11 / 10
2026-10-04	$-0.56	$10,153,714	11 / 10
2026-10-05	$-0.56	$10,153,714	11 / 10
2026-10-06	$-0.56	$10,153,714	11 / 10
2026-10-07	$-0.56	$10,153,714	11 / 10
2026-10-08	$-0.56	$10,153,714	11 / 10
2026-10-09	$-0.56	$10,153,714	11 / 10
2026-10-10	$-0.56	$10,153,714	11 / 10
2026-10-11	$-0.56	$10,153,714	11 / 10
2026-10-12	$-0.56	$10,153,714	11 / 10
2026-10-13	$-0.56	$10,153,714	11 / 10
2026-10-14	$-0.56	$10,153,714	11 / 10
2026-10-15	$-0.56	$10,153,714	11 / 10
2026-10-16	$-0.56	$10,153,714	11 / 10
2026-10-17	$-0.56	$10,153,714	11 / 10
2026-10-18	$-0.56	$10,153,714	10 / 10
2026-10-19	$-0.56	$10,153,714	10 / 10
2026-10-20	$-0.56	$10,153,714	10 / 10
2026-10-21	$-0.56	$10,153,714	10 / 10
2026-10-22	$-0.56	$10,153,714	10 / 10
2026-10-23	$-0.56	$10,153,714	10 / 10
2026-10-24	$-0.56	$10,153,714	10 / 10

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	14	1
2026-06-01	13	1
2026-07-01	14	1
2026-08-01	14	1
2026-09-01	14	3
2026-10-01	12	3

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 12 Buy / Strong Buy · 3 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Cash burn from operations stays near -$17.3M or improvesPublished status: Broken
Operating losses remain near -$20.3M or improvePublished status: Broken
FDA path advances after Tovecimig trial winPublished status: Under Pressure
Revenue grows from $0 in 2026 to >$25M in 2027Revenue: $0

Next proof point

Nov 4, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.6%Typical daily move · historical

Downside history

-88.6%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Compass Therapeutics, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

CMPX is a speculative clinical-stage biotechnology company, not a proven earnings compounder: it is loss-making, and recent financial performance is weak. The long-term thesis is in a watch state, with mixed progress on tovecimig and on-track development work for CTX-8371 and CTX-10726.

What's priced into Compass Therapeutics, Inc.

The evidence gives no valuation measure or market-expectations estimate, so whether CMPX is cheap, fair, or expensive versus peers cannot be assessed. No priced-in fragility gates fired, but that does not establish that expectations are low or that the valuation is resilient.

What the fundamentals likely do

Near term, execution risk is elevated: CMPX missed earnings in August, and the snapshot flags a 52% miss probability for the next print. Over the multi-year view, management is advancing its clinical programs, but tovecimig remains uncertain after the FDA requested an additional survival trial; cash declined to $180 million by 2026-Q2, while management says it funds operations into 2028.

What Compass Therapeutics, Inc. hinges on

The thesis depends on clinical and regulatory progress, especially whether tovecimig can address the FDA’s request and whether the other programs produce useful data, with initial CTX-10726 data expected in Q4 2026. Near-term sentiment also hinges on the next guidance and broader conditions: weakening job growth could add recession concerns, while continued strength from healthcare bellwethers could support sector momentum.