Leerink Partners cuts Compass Therapeutics to 'market perform'

Compass Therapeutics

15/11/2024 14:27

** Brokerage Leerink Partners downgrades drug developer
Compass Therapeutics  CMPX.O  to "market perform" from
"outperform," cuts PT to $4 from $5
    ** Cites "uncertainties" in CMPX's experimental drug,
CTX-009, developed for colorectal cancer that affects the large
intestine 
    ** Brokerage says it is disappointed by the drug's 5%
response rate in Western patients, compared with 33% in South
Korean ones; response rate refers to the proportion of patients
whose tumors shrank or disappeared 
    ** Leerink says the drug also needs to show a benefit for
patient survival, apart from a favorable response rate
    ** Six of seven analysts rate CMPX stock "buy" or higher and
one "hold"; their median PT is $7.50 - LSEG
    ** As of last close, CMPX stock has risen 1.9% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))