Compass Therapeutics, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 9, 2026, reporting a net loss of $27.171 million for the third quarter and a nine-month accumulated deficit surpassing $501 million.

Key Highlights

  • Net loss of $27.171 million for the three months ended September 30, 2026, compared to $14.259 million in the same period of 2025, according to the filing.
  • Total operating expenses reached $28.800 million in Q3 2026, up from $15.817 million in Q3 2025, driven by research and development expenses of $22.039 million and general and administrative expenses of $6.761 million.
  • Cash and marketable securities totaled $163.058 million as of September 30, 2026, comprising $41.469 million in cash and cash equivalents and $121.589 million in marketable securities.
  • Accumulated deficit reached $501.814 million as of September 30, 2026, compared to $431.172 million at December 31, 2025.
  • Net loss per share was $0.15 (basic and diluted) for Q3 2026, versus $0.08 in Q3 2025, based on weighted average shares of 186,798 thousand.
  • 180,087,915 shares of common stock were outstanding as of November 5, 2026, the filing disclosed.

Compass Therapeutics Reports Accelerating Spending and Wider Losses in Q3 2026

According to the filing, Compass Therapeutics (NASDAQ:CMPX) reported a net loss of $27.171 million for the three months ended September 30, 2026, a substantial increase from the $14.259 million net loss recorded in the same quarter of 2025. For the nine months ended September 30, 2026, the company reported a net loss of $70.642 million, compared to $50.773 million for the equivalent prior-year period. The company reported no revenue in either period; all operating results reflected expenses only.

Research and development expenses for Q3 2026 were $22.039 million, up from $12.826 million in Q3 2025. General and administrative expenses rose to $6.761 million in Q3 2026 from $2.991 million in the prior-year quarter. For the nine months ended September 30, 2026, total operating expenses were $76.078 million versus $54.849 million in the same period of 2025. Interest income for the nine-month period was $5.436 million, compared to $4.076 million in the nine months ended September 30, 2025.

As of September 30, 2026, total assets were $174.498 million and total stockholders' equity was $142.570 million, down from $196.791 million at December 31, 2025. Net cash used in operating activities for the nine months ended September 30, 2026 was $48.324 million. During the same period, proceeds from sales or maturities of marketable securities were $147.124 million, while purchases of marketable securities totaled $90.975 million. The company reported $3.854 million in proceeds from the exercise of common stock options during the nine-month period.

What Was Disclosed

Compass Therapeutics filed its quarterly report for the period ended September 30, 2026, disclosing a widening net loss, rising research and development costs, and an accumulated deficit of $501.814 million, with total liquidity in cash and marketable securities of approximately $163 million.