Compass Therapeutics, a Phase 1 immuno-oncology biotech developing novel protein and antibody therapies, filed on Monday with the SEC to raise up to $50 million in an initial public offering. The company previously filed in August 2020 for a $261 million secondary offering, with intent to list on the OTCQB.
The company's lead candidate, CTX-471, is a monoclonal antibody agonist of CD137, a key co-stimulatory receptor on immune cells. Preclinical studies showed that CTX-471 as a monotherapy led to a complete eradication of large tumors in mice. The company initiated a Phase 1 trial in July 2019 in a subset of oncology patients previously treated with PD-1 or PD-L1 immune checkpoint inhibitors, with the Part 2 cohort expansion portion expected to be completed by the 2H21. Compass plans to initiate a Phase 2/3 trial by early 2022.
The Cambridge, MA-based company was founded in 2014 and plans to list on the Nasdaq under the symbol CMPX. Citi, Credit Suisse, and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.
