--- title: "Compass Therapeutics prices $119,999,329 stock" url: "https://aibio.space/news/compass-therapeutics-prices-119-999-329-stock-warrant-offering-3-00/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-08-12" section: "Financings" tickers: "NASDAQ:CMPX" source: "https://www.sec.gov/Archives/edgar/data/1738021/000119312525178973/d935026d424b5.htm" summary: "Compass is selling 33,290,000 shares and pre-funded warrants for 6,710,000 shares. Proceeds before expenses are $112,800,000." --- By the aibio.space news desk. Sources - [Compass Therapeutics, Inc. 424B5 (2025-08-12)](https://www.sec.gov/Archives/edgar/data/1738021/000119312525178973/d935026d424b5.htm) - [d935026d424b5.htm](https://www.sec.gov/Archives/edgar/data/1738021/000119312525179955/d935026d424b5.htm) - [d153873dex991.htm](https://www.sec.gov/Archives/edgar/data/1738021/000119312525179958/d153873dex991.htm) - [Compass Therapeutics, Inc. 10-K (2025-02-27): business](https://www.sec.gov/Archives/edgar/data/1738021/000117184325001106/cmpx20241231_10k.htm) [CMPX](https://aibio.space/companies/compass-therapeutics/) 2025-08-12 # Compass Therapeutics prices $119,999,329 stock and warrant offering at $3.00 Tickers [CMPX](https://aibio.space/companies/compass-therapeutics/) Compass is selling 33,290,000 shares and pre-funded warrants for 6,710,000 shares. Proceeds before expenses are $112,800,000. ## Key facts - **Company**: Compass Therapeutics, Inc. (NASDAQ: CMPX) - **News type**: Financings - **Primary source**: [Compass Therapeutics, Inc. 424B5 (2025-08-12)](https://www.sec.gov/Archives/edgar/data/1738021/000119312525178973/d935026d424b5.htm) *A city skyline in morning haze. CC0, via rawpixel. The picture shows the field, not the companies named.* ## The offering Compass Therapeutics, Inc. priced an underwritten public offering of 33,290,000 shares of common stock at $3.00 per share, according to a prospectus supplement dated August 12, 2025. Investors who chose not to take common stock bought pre-funded warrants for 6,710,000 shares at $2.9999 each. The total public offering price is $119,999,329. The underwriters' discount is $0.18 per share, or $7,199,329 in total. That leaves $112,800,000 in proceeds to the company before expenses. The company estimates net proceeds of about $112.5 million after underwriting discounts and offering expenses. The shares trade on the Nasdaq Capital Market under the symbol CMPX. On August 11, 2025, the last reported sale price was $3.34 per share, so the deal priced below that level. The shares and pre-funded warrants are expected to be delivered on or about August 14, 2025. The underwriters hold an option to buy additional shares for 30 days after the prospectus supplement. If they exercise it in full, net proceeds would be about $129.5 million. Common stock outstanding immediately after the offering is 171,572,498 shares, or 177,572,498 shares with the option exercised in full. ## The banks The prospectus supplement names Jefferies, Piper Sandler and Guggenheim Securities as joint active bookrunning managers. Raymond James, Wedbush PacGrow and H.C. Wainwright & Co. are lead managers, and Ladenburg Thalmann and D. Boral Capital are co-managers. The underwriting table gives the legal entities as Jefferies LLC, Piper Sandler & Co., Guggenheim Securities, LLC, Raymond James & Associates, Inc., Wedbush Securities Inc., H.C. Wainwright & Co., LLC, Ladenburg Thalmann & Co. Inc. and D. Boral Capital LLC. The offering is underwritten, and the supplement names no separate placement agent. The underwriting section says the underwriters' purchase obligation depends on approval of certain legal matters by their counsel, and it does not name that counsel there. Jefferies LLC is also the sales agent on the company's at-the-market program under an Open Market Sale Agreement from August 2022, as amended in August 2024, with up to $55.0 million of capacity remaining. ## The company and its trial Compass's lead candidate is tovecimig, formerly known as CTX-009, a bispecific antibody that targets DLL4 and VEGF-A. The company's 10-K, filed February 27, 2025, says tovecimig is in a randomized Phase 2/3 trial in the United States, given with paclitaxel to patients with biliary tract cancer who received one prior treatment regimen. The company expected top-line data from that study at the end of the first quarter of 2025. The offering documents do not report those results. The same 10-K gives a 5% overall response rate for tovecimig as a monotherapy in a Phase 2 study of advanced colorectal cancer, announced in August 2024. The company says it will use the net proceeds to conduct initial preparations for commercial readiness, to fund research and clinical development of its product candidates, and for general corporate purposes. ## Cash, dilution and runway The prospectus supplement gives cash and cash equivalents of $100.9 million as of June 30, 2025. The company estimates that this cash, together with the offering proceeds, will be sufficient to fund its operating expenses into 2028, and it adds that its assumptions may prove wrong and that it could use its capital sooner than it expects. Investors in the offering face immediate dilution of $1.85 per share, the difference between the $3.00 offering price and an as adjusted net tangible book value of $1.15 per share as of June 30, 2025. The company also has a universal shelf registration allowing it to offer up to $300.0 million of securities, and the supplement warns that sales under it and under the at-the-market program could dilute stockholders further. The supplement gives no net loss figure for any period, and the 10-K was filed in February 2025, before the offering, so these filings do not show the company's recent cash burn. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story CMPX Compass Therapeutics, Inc. 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Cite as: aibio.space, "Compass Therapeutics prices $119,999,329 stock", 2025-08-12, https://aibio.space/news/compass-therapeutics-prices-119-999-329-stock-warrant-offering-3-00/