Compass drug shows mixed late-stage results, shares slide

28 April 2026

US biotech Compass Therapeutics (Nasdaq: CMPX) reported mixed Phase II/III results for tovecimig in biliary tract cancer, hitting response and progression targets but missing overall survival, sending its shares down more than 60%.

The COMPANION-002 study tested tovecimig plus paclitaxel against chemotherapy alone in second-line patients. The combination improved response rates to 17.1% versus 5.3% and extended progression-free survival to 4.7 months from 2.6 months.

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