Compass Therapeutics, Inc.
CMPXHealthcare|Biotechnology|US
$0.76
+0.07 (+10.84%)
DCF Value
$0.12
Tangible Book / Share
$0.89
Cash / Share
$0.96
Financials
Financial Snapshot
Market Cap
$136.7M
Enterprise Value
$110.8M
Revenue (TTM)
$0.00
Net Income (TTM)
-$73.4M
Cash & Investments
$179.9M
Net Cash
$170.2M
Free Cash Flow (TTM)
-$55.1M
Operating CF (TTM)
-$54.8M
Debt/Equity
0.06
Cash Runway & Burn Rate
Cash on Hand
$179.9M
Quarterly Burn
$13.7M
Monthly Burn
$4.6M
Est. Runway
~13.1 quarters
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $57.5M | $25.3M | $47.1M | $144.5M | $186.6M | $152.5M | $126.7M | $208.9M | $179.9M | |
| Operating Cash Flow | -$33.7M | -$31.7M | -$26.8M | -$19.7M | -$34.1M | -$40.6M | -$44.9M | -$49.1M | -$54.8M | |
| Free Cash Flow | -$35.7M | -$32.2M | -$26.9M | -$21.2M | -$34.3M | -$40.6M | -$44.9M | -$49.2M | -$55.1M | |
| Capital Expenditure | -$2.0M | -$466.0K | -$106.0K | -$1.6M | -$212.0K | -$30.0K | -$44.0K | -$25.0K | -$265.0K | |
| Financing Cash Flow | $64.0M | $37.6K | $48.5M | $118.6M | $75.8M | $2.9M | $17.3M | $129.6M | $129.9M |
R&D Spending
R&D (TTM)
$59.5M
R&D Intensity
—
R&D Growth vs Prior
+6.2%
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $850.0K | $0.00 | $0.00 | |
| R&D Expense | $27.1M | $22.4M | $14.9M | $20.3M | $30.0M | $38.1M | $42.3M | $56.0M | $59.5M | |
| R&D % of Revenue | — | — | — | — | — | — | 4981.4% | — | — | |
| SG&A | $11.2M | $11.6M | $12.9M | $10.9M | $11.7M | $12.2M | $15.1M | $16.9M | $21.3M |
Income Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $850.0K | $0.00 | $0.00 | |
| Cost of Revenue | $1.9M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.5M | $738.0K | |
| Gross Profit | -$1.9M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $850.0K | -$1.5M | -$738.0K | |
| R&D | $27.1M | $22.4M | $14.9M | $20.3M | $30.0M | $38.1M | $42.3M | $56.0M | $59.5M | |
| SG&A | $11.2M | $11.6M | $12.9M | $10.9M | $11.7M | $12.2M | $15.1M | $16.9M | $21.3M | |
| Operating Income | -$38.3M | -$34.1M | -$27.8M | -$81.9M | -$41.7M | -$50.4M | -$56.6M | -$72.8M | -$81.1M | |
| Interest Expense | $767.0K | $1.2M | $908.0K | $370.0K | $2.4M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$38.2M | -$34.7M | -$29.5M | -$82.2M | -$39.2M | -$42.5M | -$49.4M | -$66.5M | -$73.4M | |
| Net Income | -$38.3M | -$34.7M | -$29.5M | -$82.2M | -$39.2M | -$42.5M | -$49.4M | -$66.5M | -$73.4M | |
| EPS (Diluted) | -7.66 | -0.67 | -0.52 | -1.31 | -0.35 | -0.33 | -0.36 | -0.42 | -0.42 | |
| EBITDA | -$35.7M | -$31.9M | -$25.4M | -$80.2M | -$35.0M | -$40.6M | -$47.6M | -$65.0M | -$72.0M | |
| Shares Out. (M) | 5.00 | 52.11 | 56.22 | 62.87 | 105.19 | 127.03 | 137.11 | 157.69 | 186.80 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $57.5M | $25.3M | $47.1M | $144.5M | $34.9M | $24.2M | $43.5M | $30.6M | $35.5M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $151.7M | $128.2M | $83.2M | $178.3M | $144.4M | |
| Total Current Assets | $58.9M | $26.2M | $50.2M | $147.1M | $194.8M | $153.9M | $132.8M | $209.8M | $180.9M | |
| Total Assets | $64.6M | $30.4M | $51.9M | $153.8M | $199.6M | $156.9M | $140.4M | $219.6M | $190.2M | |
| Total Current Liabilities | $8.5M | $9.8M | $10.1M | $10.6M | $16.2M | $7.8M | $8.9M | $14.0M | $16.1M | |
| Long-Term Debt | $11.1M | $9.3M | $1.9M | $0.00 | $0.00 | $0.00 | $0.00 | $8.8M | $0.00 | |
| Total Liabilities | $149.4M | $149.0M | $12.0M | $13.7M | $18.0M | $8.3M | $15.2M | $22.8M | $24.1M | |
| Stockholders' Equity | -$84.8M | -$118.6M | $39.9M | $140.1M | $181.6M | $148.5M | $125.2M | $196.8M | $166.0M | |
| Retained Earnings | -$87.2M | -$121.9M | -$151.4M | -$233.6M | -$272.8M | -$315.3M | -$364.7M | -$431.2M | -$474.6M |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$33.7M | -$31.7M | -$26.8M | -$19.7M | -$34.1M | -$40.6M | -$44.9M | -$49.1M | -$54.8M | |
| Capital Expenditure | -$2.0M | -$466.0K | -$106.0K | -$1.6M | -$212.0K | -$30.0K | -$44.0K | -$25.0K | -$265.0K | |
| Free Cash Flow | -$35.7M | -$32.2M | -$26.9M | -$21.2M | -$34.3M | -$40.6M | -$44.9M | -$49.2M | -$55.1M | |
| Investing Cash Flow | -$2.0M | -$466.0K | $38.0K | -$1.8M | -$151.2M | $27.0M | $46.8M | -$93.3M | -$65.1M | |
| Financing Cash Flow | $64.0M | $37.6K | $48.5M | $118.6M | $75.8M | $2.9M | $17.3M | $129.6M | $129.9M | |
| Issuance of Stock | $49.1M | $0.00 | $60.5M | $128.3M | $0.00 | $3.1M | $18.1M | $130.6M | $139.3M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | — | — | — | -$9.4M | — | — | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $656.0K | $915.0K | $4.0M | $4.0M | $5.3M | $6.1M | $8.6M | $8.4M | $13.0M | |
| Net Change in Cash | $28.3M | -$32.2M | $21.8M | $97.2M | -$109.6M | -$10.7M | $19.3M | -$12.8M | $10.1M |
Dilution Tracker
Shares outstanding grew 180.5% over 5 years — significant dilution
Shares Outstanding
180M
5-Year Share Growth
+180.5%
Stock Issuance (TTM)
$139.3M
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 5.00 | 52.11 | 56.22 | 62.87 | 105.19 | 127.03 | 137.11 | 157.69 | 186.80 | |
| Change vs Prior % | — | 942.2% | 7.9% | 11.8% | 67.3% | 20.8% | 7.9% | 15.0% | 18.5% | |
| Stock Issuance | $49.1M | $0.00 | $60.5M | $128.3M | $0.00 | $3.1M | $18.1M | $130.6M | $139.3M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $656.0K | $915.0K | $4.0M | $4.0M | $5.3M | $6.1M | $8.6M | $8.4M | $13.0M |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | — | — | — | — | 100.0% | — | — | |
| Operating Margin % | — | — | — | — | — | — | -6661.8% | — | — | |
| Net Margin % | — | — | — | — | — | — | -5808.8% | — | — | |
| EBITDA Margin % | — | — | — | — | — | — | -5602.6% | — | — | |
| FCF Margin % | — | — | — | — | — | — | -5282.2% | — | — | |
| ROE % | 45.2% | 29.3% | -73.9% | -58.7% | -21.6% | -28.6% | -39.4% | -33.8% | -38.7% | |
| ROA % | -59.2% | -114.4% | -56.8% | -53.4% | -19.6% | -27.1% | -35.2% | -30.3% | -38.6% | |
| ROIC % | -64.0% | -130.3% | -56.4% | -56.8% | -22.6% | -33.5% | -42.9% | -35.3% | -46.2% | |
| R&D / Revenue % | — | — | — | — | — | — | 4981.4% | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -100.0% | |
| Gross Profit | 0.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -273.2% | |
| Operating Income | 0.0% | 11.1% | 18.3% | -194.4% | 49.1% | -20.9% | -12.4% | -28.6% | |
| Net Income | 0.0% | 9.3% | 15.1% | -178.6% | 52.3% | -8.3% | -16.2% | -34.7% | |
| EPS (Diluted) | 0.0% | 91.3% | 22.4% | -151.9% | 73.3% | 5.7% | -9.1% | -16.7% | |
| Operating Cash Flow | 0.0% | 5.8% | 15.6% | 26.6% | -73.5% | -19.0% | -10.4% | -9.6% | |
| Free Cash Flow | 0.0% | 9.8% | 16.4% | 21.1% | -61.7% | -18.4% | -10.5% | -9.5% | |
| R&D Expense | 0.0% | -17.1% | -33.6% | 36.5% | 47.5% | 27.1% | 11.1% | 32.2% | |
| SG&A Expense | 0.0% | 3.4% | 11.2% | -15.3% | 6.7% | 5.0% | 23.6% | 11.5% | |
| Total Assets | 0.0% | -53.0% | 70.9% | 196.2% | 29.8% | -21.4% | -10.5% | 56.4% | |
| Book Value / Share | 0.0% | 86.6% | 131.2% | 213.6% | -22.5% | -32.3% | -21.9% | 36.6% | |
| Debt | 0.0% | 0.8% | -37.2% | -56.7% | -27.3% | -41.0% | 282.8% | 48.2% | |
| Diluted Shares | 0.0% | 942.2% | 7.9% | 11.8% | 67.3% | 20.8% | 7.9% | 15.0% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.85
10Y Low / Med / High1.33 / 2.91 / 11.96
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.12
Tangible Book / Share
$0.89
Net Current Assets / Share
$0.87
Graham Net-Net
$0.83
Cash / Share
$0.96
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -1.11 | -12.69 | -16.35 | -2.42 | -14.37 | -4.73 | -4.03 | -12.79 | -1.83 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 233.89 | 0.00 | 0.00 | |
| P/B Ratio | -0.50 | -3.73 | 11.96 | 1.42 | 2.91 | 1.33 | 1.59 | 4.30 | 0.85 | |
| EV/EBITDA | 0.01 | -13.55 | -17.32 | -0.73 | -14.22 | -4.33 | -3.40 | -12.70 | -1.54 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 190.54 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-0.33
Distress
Piotroski F-Score
3
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $39.3M | $10.2M | $59.4M |
| Net Income | -$89.6M | -$85.4M | -$107.3M |
| EPS | $-0.50 | $-0.56 | $-0.43 |
| # Analysts (EPS) | 11 | 10 | 12 |