BOSTON - Compass Therapeutics, Inc. (NASDAQ:CMPX), a biopharmaceutical company specializing in oncology, announced the appointment of Thomas Schuetz, M.D., Ph.D., as its new President and Chief Executive Officer, effective today. Dr. Schuetz, who also serves as Vice Chair of the Board of Directors, succeeds Vered Bisker-Leib, Ph.D., M.B.A. Dr. Bisker-Leib, the outgoing CEO, will transition to a Senior Consultant role for the next 15 months.
The leadership change comes as Compass Therapeutics continues to focus on the development of antibody-based therapeutics aimed at treating a variety of human diseases, with a scientific emphasis on the interplay between angiogenesis, the immune system, and tumor growth. Dr. Schuetz's prior experience within the company and his return to the CEO position coincide with the progression of clinical programs and upcoming key clinical milestones.
"I am very enthusiastic to return to my prior role as CEO at Compass. I continue to be pleased with the advancement of our clinical programs, and I am excited to work closely with our team to achieve our upcoming, key clinical milestones," Dr. Schuetz stated regarding his appointment.
Carl L. Gordon, Chairman of the Board, expressed gratitude for Dr. Bisker-Leib's contributions to the company, "Vered has been a valued member of our executive team. We thank Vered for her significant contributions to Compass and wish her the very best in her future endeavors."
Compass Therapeutics, founded in 2014 and headquartered in Boston, Massachusetts, is advancing its pipeline of novel product candidates. These candidates are designed to target critical biological pathways essential for an effective anti-tumor response, including modulation of microvasculature, induction of immune responses, and alleviation of immunosuppressive mechanisms by tumors.
InvestingPro Insights
As Compass Therapeutics, Inc. (NASDAQ:CMPX) welcomes Dr. Thomas Schuetz as its new CEO, investors are closely monitoring the company's financial health and market performance. According to InvestingPro data, Compass Therapeutics currently holds a market capitalization of 202.26 million USD. Despite the challenges, the company's balance sheet reflects a strategic advantage, holding more cash than debt, which can be crucial for funding ongoing research and development.
InvestingPro Tips highlight that Compass Therapeutics does not pay dividends, which is common for biopharmaceutical companies prioritizing reinvestment in their growth. Additionally, analysts have revised their earnings upwards for the upcoming period, signaling confidence in the company's potential despite not being profitable over the last twelve months. With a P/E Ratio (Adjusted) for the last twelve months as of Q1 2024 at -4.63, the company's valuation metrics suggest that investors are expecting future growth.
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