Compass Therapeutics
CMPX on Nasdaq. Compass Therapeutics develops antibody medicines to treat cancer in people. Market value $173m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-31.37 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$1.00 a share, 20% above its 1-year low
Over the past year the price has ranged from $0.83 to $6.88.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | n/a | n/a | $0 | $850,000 | $0 |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | -6661.8% | n/a |
| Debt to equity | |||||
| Debt to equity | 0.00 | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.13bn | 0.13bn | 0.14bn | 0.18bn | 0.18bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)2 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 43% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- A loss of $25 million, compared with a loss of $20 million a year ago.
- Over the past 12 months it spent $56 million more cash than it brought in, compared with $45 million a year earlier.
| Quarter to | Amount |
|---|---|
| September 2024 | -$10m |
| December 2024 | -$15m |
| March 2025 | -$17m |
| June 2025 | -$20m |
| September 2025 | -$14m |
| December 2025 | -$16m |
| March 2026 | -$18m |
| June 2026 | -$25m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 5 March 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 216 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Royce & AssociatesChuck Royce | $3m | <0.1% | Cut |
Largest holders overall
- Tang Capital Management$39mAdded
- Orbimed Advisors$33m
- Montanova Capital$31m
- BlackRock$25mAdded
- State Street$22mAdded
- Enavate Sciences GP$17m
- Vivo Capital$17mCut
- Vanguard Capital Management$13m
- Palo Alto Investors LP$13mAdded
- Millennium Management$10mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
10 investors own more than 5%.
- TANG CAPITAL MANAGEMENT, LLCPassive investorat least 10.0%0.0 pts(filed with 5 related holders)Since 30 September 2025
- ORBIMED ADVISORS LLCPassive investorat least 8.9%−2.1 pts(filed with 1 related holder)Since 13 August 2025
What they said
The Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in…
Read the filing - Suvretta Capital Management, LLCPassive investorat least 8.2%+3.0 pts(filed with 2 related holders)Since 13 August 2025
- STATE STREET CORPORATIONPassive investor5.5%Since 30 June 2026
- BlackRock, Inc.Passive investor5.2%+0.6 ptsSince 31 December 2025
- Enavate Sciences GP, LLCPassive investorat least 4.5%(filed with 3 related holders)Since 14 August 2025
- Adage Capital Management, L.P.Passive investorat least 4.4%(filed with 3 related holders)Since 31 December 2024
- BVF PARTNERS L P/ILPassive investorat least 4.3%−0.8 pts(filed with 9 related holders)Since 31 March 2026
- Vivo Opportunity Fund Holdings, L.P.Passive investorat least 4.0%−1.1 pts(filed with 3 related holders)Since 30 June 2026
- Blackstone Alternative Asset Management Associates LLCPassive investorat least 3.4%(filed with 7 related holders)Since 31 December 2025
- MPM BioImpact LLCPassive investorSold down below 5%Since 30 June 2025
- RTW Investments, LPPassive investorSold down below 5%Since 30 June 2025
- OrbiMed Genesis GP LLCPassive investorSold down below 5%Since 9 April 2024
What they said
The Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in…
Read the filing
| Holder | Stake | Since | |
|---|---|---|---|
TANG CAPITAL MANAGEMENT, LLC Passive investor | at least 10.0%0.0 pts (filed with 5 related holders) | 30 September 2025 | |
ORBIMED ADVISORS LLC Passive investor | at least 8.9%−2.1 pts (filed with 1 related holder) | 13 August 2025 | What they saidThe Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in… Read the filing |
Suvretta Capital Management, LLC Passive investor | at least 8.2%+3.0 pts (filed with 2 related holders) | 13 August 2025 | |
STATE STREET CORPORATION Passive investor | 5.5% | 30 June 2026 | |
BlackRock, Inc. Passive investor | 5.2%+0.6 pts | 31 December 2025 | |
Enavate Sciences GP, LLC Passive investor | at least 4.5% (filed with 3 related holders) | 14 August 2025 | |
Adage Capital Management, L.P. Passive investor | at least 4.4% (filed with 3 related holders) | 31 December 2024 | |
BVF PARTNERS L P/IL Passive investor | at least 4.3%−0.8 pts (filed with 9 related holders) | 31 March 2026 | |
Vivo Opportunity Fund Holdings, L.P. Passive investor | at least 4.0%−1.1 pts (filed with 3 related holders) | 30 June 2026 | |
Blackstone Alternative Asset Management Associates LLC Passive investor | at least 3.4% (filed with 7 related holders) | 31 December 2025 | |
MPM BioImpact LLC Passive investor | Sold down below 5% | 30 June 2025 | |
RTW Investments, LP Passive investor | Sold down below 5% | 30 June 2025 | |
OrbiMed Genesis GP LLC Passive investor | Sold down below 5% | 9 April 2024 | What they saidThe Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in… Read the filing |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 2 insiders bought $96,850 of shares on the open market.
- Lerner NeilChief Accounting OfficerBought
- Date
- 1 October 2026
- Shares
- 20,000
- Price
- $0.92
- Value
- $18,400
- Lerner NeilChief Accounting OfficerBought
- Date
- 24 September 2026
- Shares
- 2,500
- Price
- $1.14
- Value
- $2,850
- Lerner NeilChief Accounting OfficerBought
- Date
- 29 April 2026
- Shares
- 15,000
- Price
- $1.89
- Value
- $28,350
- Anderman JonathanGeneral CounselBought
- Date
- 29 April 2026
- Shares
- 25,000
- Price
- $1.89
- Value
- $47,250
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 1 October 2026 | Lerner Neil Chief Accounting Officer | Bought | 20,000 | $0.92 | $18,400 |
| 24 September 2026 | Lerner Neil Chief Accounting Officer | Bought | 2,500 | $1.14 | $2,850 |
| 29 April 2026 | Lerner Neil Chief Accounting Officer | Bought | 15,000 | $1.89 | $28,350 |
| 29 April 2026 | Anderman Jonathan General Counsel | Bought | 25,000 | $1.89 | $47,250 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 5 Mar 2026, plus the 10-Q filed 6 Aug 2026 and 7 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.