Compass Therapeutics, a clinical-stage oncology-focused biopharma, leverages its proprietary bispecific StitchMabs™ platform to target angiogenesis and immune pathways. Its lead candidate, tovecimig, demonstrated significant efficacy in a Phase 2/3 biliary tract cancer trial with key survival data expected in April 2026. Despite promising clinical milestones, the company continues to incur substantial operating losses driven by R&D investments and negative cash flows, holding $30.6 million in cash at year-end 2025. The firm faces regulatory complexities and relies on third-party manufacturing as it seeks to advance commercialization prospects.