Compass Therapeutics Inc. (CMPX) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, CMPX scores 46 out of 100, earning a D grade and the verdict "Roarable Sell — Underperform / Distribution Warning." Across the five pillars, the Fundamental Cash Engine scores 8/20 (ROIC -34.6%; FCF yield 0%), indicating the business is not currently generating returns on capital or free cash flow. Whale 13F Flow scores 13/20, reflecting institutional accumulation and options positioning, the strongest pillar in the set. Insider Conviction scores 5/20, based on SEC Form 4 and Congressional PTR cluster flow, the weakest pillar. Macro Regime Fit scores 10/20 (Beta 1.0; sector sensitivity). Forensic Balance Sheet scores 10/20 (Altman Z 2.5; Piotroski F 2/9; Debt/Equity 0.5).

For a prospective investor evaluating the stock today, these scores point to a company with negative operating economics and weak insider signaling, partly offset by institutional interest. Upside drivers are limited to the institutional accumulation signal and any future progress that the source data does not describe. Valuation tradeoffs are difficult to frame because trailing and forward earnings multiples are Not available in source data; the market capitalization of $136.2M is the only valuation anchor provided. Second-order risks include balance sheet strain as operating losses persist, reflected in the reported cash decline across periods.

Per the SEC financials, operating losses widened from $-50.4M (FY 2023) to $-72.8M (FY 2025), and reported cash fell from $43.5M (FY 2024) to $30.6M (FY 2025). Gross, operating, and net margins are each recorded as 0%, and ROIC is -34.6%. Per the Roarable RQD rating, the Altman Z-Score is 2.5, the Piotroski F-Score is 2/9, and Debt/Equity is 0.5. The source data does not provide the debt amount, so the basis for the Debt/Equity figure cannot be verified within this dossier.

Per the news wire, the most prominent item is a Yahoo Finance report titled "Compass Therapeutics (CMPX) Stock Fair Value Falls After Tovecimig Regulatory Concerns," flagged RED with a RISK WATCH impact label. Other items, including TradingView, StockInvest.us, debelegger.nl, Simply Wall St, and Stock Titan coverage, are flagged YELLOW with MARKET WIRE labels. One Stock Titan item notes that investors can request one-on-one meetings with Compass management at two November conferences. The news items are summaries of market action and do not contain independently verified fundamental detail. Per the Butterfly Supply-Chain Graph, no proprietary signals are recorded.

• What specific regulatory concerns relate to tovecimig, and what is their expected timeline and impact on the company?
• What products or pipeline assets generate the company's expenses, and what is the path to revenue, given reported revenue of $0.0M?
• What is the total debt amount underlying the reported Debt/Equity of 0.5, and what is the company's cash runway at the current burn rate?
• What are the sources and terms of the institutional accumulation signal referenced in the RQD whale pillar, given that holders data is NONE?
• What drove the 52-week decline from $6.88 to the current range, and what is the recent insider trading context behind the 5/20 Insider Conviction score?