- Stifel has initiated Compass Therapeutics ( NASDAQ: CMPX ) with a buy rating saying that the company's biliary tract cancer candidate, CTX-009, has a high probability of success and a tremendous revenue opportunity.
- The firm has a $9 target price (~128% upside based on Thursday's close).
- Stifel's biotechnology team said that given there are limited options for biliary tract cancer, CTX-009 could represent a $1B sales opportunity.
- They added that Compass ( CMPX ) has been buoyed by updated phase 2 results of CTX-009 + paclitaxel in a second-line setting. This showed an overall response rate of 64%, and median progression-free survival and overall survival of, respectively, 10 and 12 months.
- The team added that CTX-009 as a single agent for metastatic colorectal cancer represents the biggest potential upside for the company, but prior drug development efforts with DLL4-targeting monoclonal antibodies has not been that successful. Stifel gives a 20% probability of success for the candidate in this indication.
- Wedbush recently added Compass ( CMPX ) to its Best Ideas List.
For further details see:
Compass Therapeutics a buy at Stifel on promise for biliary tract cancer candidate