Cisplatin

~ 2026 Second Quarter Net Product Sales of $17.1 Million, Up 78% Year over Year ~ ~ 2026 Second Quarter Non-GAAP Adjusted EBITDA of $2.8 Million ~ ~ Record PEDMARK ® Demand Carried into Third Quarter 2026 as Field Sales Expansion Efforts Continue to Validate Commercial Growth Strategy ~ ~ Real-World Evidence Presented at ASCO 2026 Reinforced that PEDMARK ® Can Be Easily Integrated into Patient Care and Does Not Compromise Cisplatin’s Established Antitumor Activity ~ ezstandalone.cmd.push(function () { ezstandalone.showAds(131); }); ~ Management to Host Conference Call Today at 8:30 a.m. ET ~ RESEARCH TRIANGLE PARK, N.C., Aug. 11, 2026 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (NASDAQ:FENC; TSX: FRX), a specialty pharmaceutical company, today reported its financial results for the second quarter ended June 30, 2026 and provided a business update. “Our second quarter reflects another period of strong execution across the business, highlighted by our seventh consecutive quarter of growth. We continue to build momentum by investing in the evidence that will shape the future of PEDMARK ® (sodium thiosulfate), with important data presented at ASCO and a growing pipeline of investigator-sponsored studies that we believe will further expand our understanding of its potential,” said Jeff Hackman, chief executive officer of Fennec Pharmaceuticals. “As evidenced in our record EBITDA generation in the second quarter, we have a highly effective business model that is primed to optimize our anticipated growth while advancing our mission to improve outcomes for patients.” Business Highlights: Continued Commercial Momentum Within Key PEDMARK ® Accounts : The first full quarter following the expansion of our commercial organization contributed to unprecedented enrollment in the second quarter. Through disciplined execution and now greater reach and frequency to engage with healthcare providers, demand grew across both new and existing accounts, further demonstrating the scalability of our commercial platform. Our commercial, patient services, and medical affairs teams continue to work closely together to help ensure a positive PEDMARK ® experience for both prescribers and patients throughout the treatment journey. 2026 American Society of Clinical Oncology (ASCO) Annual Meeting: New research evaluating PEDMARK ® across multiple patient populations and tumor types were shared as part of the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting program. The four independently led studies build upon the established safety and efficacy of PEDMARK ® – currently approved for pediatric patients one month of age and older with localized, non-metastatic solid tumors, and recognized by the National Comprehensive Cancer Network with a 2A recommendation for use in adolescent and young adult patients – and help to expand understanding of the clinical utility of PEDMARK ® in Adolescent and Young Adult (AYA) and adult populations, where significant unmet need remains. Upcoming Events: H.C. Wainwright 27th Annual Global Investment Conference: Fennec will present at the conference to be held September 14 – 17, 2026, in NYC. The management team will also host one-on-one investor meetings at the conference. Financial Results for the Second Quarter Ended June 30, 2026 Net Product Sales – For the second quarter of 2026, the Company recorded net product sales of approximately $17.1 million compared to $9.7 million in the second quarter of 2025. The increase in sales is attributable to growth across PEDMARK ® accounts including new accounts in the AYA population. Selling and Marketing Expenses – The Company recorded $10.7 million in selling and marketing expenses in the second quarter of 2026 compared to $4.8 million in the second quarter of 2025. The increase is largely related to is largely related to the higher costs associated with the commercialization and increased awareness initiatives of PEDMARK ® and related expenses to support the expansion of our sales organization. Further, on a comparable basis, there was a reallocation of select general and administrative expenses to selling and marketing expenses in the second quarter of 2026 compared to the second quarter of 2025. General and Administrative (G&A) Expenses – The Company recorded $4.6 million in general and administrative expenses in the second quarter of 2026 compared to $6.5 million in the second quarter of 2025. Thedecrease in general and administrative expenses for the three-month comparable periods due to lower legal and professional fees as select litigation activities concluded. Further, on a comparable basis, there was a reallocation of select general and administrative expenses to selling and marketing expenses in the second quarter of 2026 compared to the second quarter of 2025. Non-GAAP adjusted EBITDA – The Company recorded $2.8 million in non-GAAP adjusted EBITDA in the second quarter of 2026 compared to non-GAAP adjusted EBITDA loss of $1.2 million for the same period in the prior year. A table reconciling non-GAAP measures is included in this press release for reference. Cash Position – Cash and cash equivalents were $41.2 million as of June 30, 2026 compared to $40.1 million as of March 31, 2026. We anticipate that our cash, cash equivalents and investment securities as of June 30, 2026, combined with the projected revenues from PEDMARK ® , will be sufficient to fund our business based on our current operating plan. Second Quarter 2026 Conference Call Information Date: Tuesday, August 11, 2026 Time: 8:30 a.m. Eastern Time Webcast Link: Participant Link: Financial Update The selected financial data presented below is derived from our unaudited condensed consolidated financial statements, which were prepared in accordance with U.S. generally accepted accounting principles. The complete unaudited condensed consolidated financial statements for the period ended June 30, 2026, and management's discussion and analysis of financial condition and results of operations will be available via and All values are presented in thousands unless otherwise noted. Unaudited Condensed Consolidated Statements of Operations: (U.S. Dollars in thousands except share and per share amounts) Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2026 2025 2026 2025 Revenue PEDMARK product sales, net $ 17,164 $ 9,652 $ 32,272 $ 18,403 Other revenue 710 — 710 — Total revenue 17,874 9,652 32,982 18,403 Operating expenses: Cost of product sales 721 967 1,291 1,340 Research and development 118 107 167 201 Selling and marketing 10,659 4,784 22,081 8,011 General and administrative 4,639 6,526 7,825 12,391 Total operating expenses 16,137 12,384 31,364 21,943 Income/(loss) from operations 1,737 (2,732 ) 1,618 (3,540 ) Other (expense)/income Unrealized foreign exchange (loss)/gain (6 ) 17 (18 ) 30 Amortization expense — (13 ) — (26 ) Unrealized loss on securities — (1 ) — (2 ) Interest income 287 171 626 407 Interest expense (3 ) (594 ) (10 ) (1,186 ) Total other expense 278 (420 ) 598 (777 ) Income/(loss) before provision for income taxes 2,015 (3,152 ) 2,216 (4,317 ) Provision for income taxes 42 — 42 — Net income/(loss) $ 1,973 $ (3,152 ) $ 2,174 $ (4,317 ) Basic net income/(loss) per common share $ 0.06 $ (0.11 ) $ 0.06 $ (0.16 ) Diluted net income/(loss) per common share $ 0.05 $ (0.11 ) $ 0.06 $ (0.16 ) Weighted-average number of common shares outstanding basic 34,545 27,664 34,596 27,621 Weighted-average number of common shares outstanding diluted 36,430 27,664 37,410 27,621 Fennec Pharmaceuticals Inc. Balance Sheets (U.S. Dollars and shares in thousands) June 30, December 31, 2026 2025 Assets Current assets Cash and cash equivalents $ 41,249 $ 36,788 Accounts receivable, net 23,266 23,221 Prepaid expenses 3,635 3,738 Inventory 2,374 1,565 Other current assets 1,976 1,731 Total current assets 72,500 67,043 Non-current assets 3,253 3,508 Total assets $ 75,753 $ 70,551 Liabilities and stockholders’ deficit Current liabilities: Accounts payable $ 5,516 $ 4,635 Accrued liabilities 3,696 5,635 Contract liability-current 3,182 248 Total current liabilities 12,394 10,518 Long-term liabilities Contract liability - long-term 20,917 24,561 Total long-term liabilities 20,917 24,561 Total liabilities 33,311 35,079 Stockholders’ deficit: Common stock, no par value; unlimited shares authorized; 35,034 shares issued and outstanding (2025 ‑34,163) 193,190 189,906 Additional paid-in capital 75,257 73,745 Accumulated deficit (227,248 ) (229,422 ) Accumulated other comprehensive income 1,243 1,243 Total stockholders’ deficit 42,442 35,472 Total liabilities and stockholders’ deficit $ 75,753 $ 70,551 Reconciliation of Net Income/(Loss) to Adjusted EBITDA (Non-GAAP) (U.S. Dollars in thousands) Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2026 2025 2026 2025 Net income $ 1,973 $ (3,152 ) $ 2,174 $ (4,317 ) Provision for income taxes 42 - 42 - Other revenue (a) (710 ) - (710 ) - Interest income (287 ) (171 ) (626 ) (407 ) Interest expense 3 594 10 1,186 Depreciation and amortization - 13 - 26 Share based compensation expense (b) 1,774 1,494 2,764 2,292 Unrealized loss on securities - 1 - 2 Unrealized foreign exchange gain/(loss) 6 (17 ) 18 (30 ) Adjusted EBITDA $ 2,801 $ (1,238 ) $ 3,672 $ (1,248 ) (a) Represents the portion of GAAP revenue related to “material rights” under the Company’s PEDMARK ® license with Norgine that is non-cash in the current period and was previously recorded as deferred licensing revenue. Under ASC 606, a portion of the upfront consideration received under this agreement was allocated to a material right and recorded as deferred revenue (contract liability), which is subsequently recognized as revenue as PEDMARK ® units are shipped to Norgine and the related material right is satisfied. These amounts are included in GAAP revenue in the periods presented, and the Company continues to apply GAAP recognition and measurement for all revenue, including this component. The adjustment is intended solely to remove this non-cash amortization of previously deferred licensing revenue from Adjusted EBITDA, as management believes excluding this item provides a more comparable view of period-over-period cash operating performance from the Company’s commercial activities. (b) Represents share-based compensation expense to account for stock options, restricted stock, and other stock awards over their respective vesting periods. About Cisplatin-Induced Ototoxicity Cisplatin and other platinum-based chemotherapies are widely used to treat solid tumors and have been vital in improving survival rates. Unfortunately, these life-saving treatments often result in permanent, irreversible hearing loss, also known as ototoxicity. 1 Hearing loss from cisplatin treatment is not rare. Studies show that between 60-90% of patients treated with cisplatin may develop hearing loss, depending upon the dose and duration of chemotherapy. 2 Many of those treated with cisplatin will require lifelong hearing aids or cochlear implants, which can be helpful for some, but do not reverse the hearing loss and can be costly over time. 3 Treatment-induced hearing loss can reduce quality of survivorship as it impacts many aspects of life, such as speech and language skills, academic performance, social-emotional development, career potential and the ability to live independently. 4 , 5 While audiologic monitoring is recommended to help manage ototoxicity, it is currently underutilized in certain cancer patient populations. PEDMARK ® (sodium thiosulfate injection) PEDMARK ® is the first and only U.S. Food and Drug Administration (FDA) approved therapy indicated to reduce the risk of ototoxicity associated with cisplatin treatment in pediatric patients 1 month of age and older with localized, non-metastatic, solid tumors. It is a unique formulation of sodium thiosulfate in single-dose, ready-to-use vials for intravenous use in pediatric patients. PEDMARK is also the first and only therapeutic agent with proven efficacy and safety data with an established dosing regimen, across two open-label, randomized Phase 3 clinical studies, the Children’s Oncology Group (COG) Protocol ACCL0431 and SIOPEL 6. Additionally, PEDMARK ® is recommended for the adolescent and young adult (AYA) population by the National Comprehensive Cancer Network, or NCCN, with a 2A endorsement. Approximately 500,000 patients in the U.S. are diagnosed annually with cancers that could be treated with a platinum-based chemotherapy. 6 , 7 The incidence of ototoxicity depends upon the dose and duration of chemotherapy, and many of those treated will require lifelong hearing aids. Until the FDA approval of PEDMARK, there were no preventative agents for this hearing loss. Patients with hearing loss resulting from cancer treatment have a statistically significant worse quality of life compared with peers who have no hearing loss. 8 , 9 PEDMARK has been studied by co-operative groups in two Phase 3 clinical studies of survival and reduction of ototoxicity, COG ACCL0431 and SIOPEL 6. Both studies have been completed. The COG ACCL0431 protocol enrolled childhood cancers typically treated with intensive cisplatin therapy for localized and disseminated disease, including newly diagnosed hepatoblastoma, germ cell tumor, osteosarcoma, neuroblastoma, medulloblastoma, and other solid tumors. SIOPEL 6 enrolled only hepatoblastoma patients with localized tumors. Indications and Usage PEDMARK ® (sodium thiosulfate injection) is indicated to reduce the risk of ototoxicity associated with cisplatin in pediatric patients 1 month of age and older with localized, non-metastatic solid tumors. Limitations of Use The safety and efficacy of PEDMARK have not been established when administered following cisplatin infusions longer than 6 hours. PEDMARK may not reduce the risk of ototoxicity when administered following longer cisplatin infusions, because irreversible ototoxicity may have already occurred. Important Safety Information PEDMARK is contraindicated in patients with history of a severe hypersensitivity to sodium thiosulfate or any of its components. Hypersensitivity reactions occurred in 8% to 13% of patients in clinical trials. Monitor patients for hypersensitivity reactions. Immediately discontinue PEDMARK and institute appropriate care if a hypersensitivity reaction occurs. Administer antihistamines or glucocorticoids (if appropriate) before each subsequent administration of PEDMARK. PEDMARK may contain sodium sulfite; patients with sulfite sensitivity may have hypersensitivity reactions, including anaphylactic symptoms and life-threatening or severe asthma episodes. Sulfite sensitivity is seen more frequently in people with asthma. PEDMARK is not indicated for use in pediatric patients less than 1 month of age due to the increased risk of hypernatremia or in pediatric patients with metastatic cancers. Hypernatremia occurred in 12% to 26% of patients in clinical trials, including a single Grade 3 case. Hypokalemia occurred in 15% to 27% of patients in clinical trials, with Grade 3 or 4 occurring in 9% to 27% of patients. Monitor serum sodium and potassium levels at baseline and as clinically indicated. Withhold PEDMARK in patients with baseline serum sodium greater than 145 mmol/L. Monitor for signs and symptoms of hypernatremia and hypokalemia more closely if the glomerular filtration rate (GFR) falls below 60 mL/min/1.73m 2 . Administer antiemetics prior to each PEDMARK administration. Provide additional antiemetics and supportive care as appropriate. The most common adverse reactions (≥25% with difference between arms of >5% compared to cisplatin alone) in SIOPEL 6 were vomiting, nausea, decreased hemoglobin, and hypernatremia. The most common adverse reaction (≥25% with difference between arms of >5% compared to cisplatin alone) in COG ACCL0431 was hypokalemia. Please see full Prescribing Information for PEDMARK ® at: . About Fennec Pharmaceuticals Fennec Pharmaceuticals Inc. is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK ® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom (U.K.) approval in October 2023 under the brand name PEDMARQSI Ò . In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, will commercialize PEDMARQSI ® in Europe, U.K., Australia and New Zealand. PEDMARQSI is now commercially available in multiple countries. PEDMARK has received Orphan Drug Exclusivity in the U.S. and PEDMARQSI has received Pediatric Use Marketing Authorization in Europe which includes eight years plus two years of data and market protection. Further, Fennec has patents providing protection for PEDMARK until 2039 in both the U.S. and internationally. For more information, please visit and follow on LinkedIn . Forward Looking Statements Except for historical information described in this press release, all other statements are forward-looking. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include statements about our business strategy, business model, timelines and other goals, plans and prospects, including our commercialization plans respecting PEDMARK ® / PEDMARQSI ® , the market opportunity for and market impact of PEDMARK ® / PEDMARQSI ® , its potential impact on patients and anticipated benefits associated with its use, future commercial and regulatory milestone and royalty payments from Norgine, anticipated growth, and the sufficiency of our current financial resources. . Forward-looking statements are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including the risks and uncertainties that regulatory and guideline developments may change, scientific data and/or manufacturing capabilities may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, unforeseen global instability, including political instability, or instability from an outbreak of pandemic or contagious disease, such as the novel coronavirus (COVID-19), or surrounding the duration and severity of an outbreak, protection offered by the Company’s patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market or future demand for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, our ability to obtain necessary capital when needed on acceptable terms or at all, the Company may not meet its future capital requirements in different countries and municipalities, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 2025. Fennec disclaims any obligation to update these forward-looking statements except as required by law. For a more detailed discussion of related risk factors, please refer to our public filings available at and . PEDMARK ® PEDMARQSI ® and Fennec ® are registered trademarks of Fennec Pharmaceuticals Inc. ©2025 Fennec Pharmaceuticals Inc. All rights reserved. For further information, please contact: Investors: Robert Andrade Chief Financial Officer Fennec Pharmaceuticals Inc. +1 919-246-5299 Corporate and Media: Lindsay Rocco Elixir Health Public Relations +1 862-596-1304 lrocco@elixirhealthpr.com ___________________________________ 1 Sheth S et al. Mechanisms of Cisplatin Ototoxicity and Progress in Otoprotection. Frontiers in Cellular Neuroscience . 2017, Vol. 11. 2 Langer T, am Zehnhoff-Dinnesen A, Radtke S, Meitert J, Zolk O. Understanding platinum-induced ototoxicity. Trends Pharmacol Sci . 2013;34(8):458-469 3 Landier W. Ototoxicity and Cancer Therapy. Cancer . June 2016 Vol. 122, No.11: 1647-1658. 4 Clemens E, van den Heuvel-Eibrink MM, Mulder RL, et al. Recommendations for ototoxicity surveillance for childhood, adolescent, and young adult cancer survivors: a report from the International Late Effects of Childhood Cancer Guideline Harmonization Group in collaboration with the PanCare Consortium. Lancet Oncol . 2019;20(1):e29-e41 5 Bass JK, Knight KR, Yock TI, Chang KW, Cipkala D, Grewal SS. Evaluation and management of hearing loss in survivors of childhood and adolescent cancers: a report from the children’s oncology group. Pediatr Blood Cancer . 2016;63(7):1152-1162. 6 Chattaraj A et al. Cisplatin-Induced Ototoxicity: A Concise Review of the Burden, Prevention, and Interception Strategies. JCO Oncol Pract . 2023;19 7 Freyer DR et al. Effects of sodium thiosulfate versus observation on development of cisplatin-induced hearing loss in children with cancer (ACCL0431): a multicentre, randomised, controlled, open-label, phase 3 trial. Lancet Oncol . 2017;18(1):63-74. 8 Rajput K, Edwards L, Brock P, Abiodun A, Simpkin P, Al-Malky G. Ototoxicity-induced hearing loss and quality of life in survivors of paediatric cancer . Int J Pediatr Otorhinolaryngol . 2020;138:110401. doi:10.1016/j.ijporl.2020.110401 9 Bass JK, Knight KR, Yock TI, Chang KW, Cipkala D, Grewal SS. Evaluation and management of hearing loss in survivors of childhood and adolescent cancers: a report from the children’s oncology group. Pediatr Blood Cancer. 2016;63(7):1152-1162.

The Company expects feedback from the FDA this quarter regarding the COMPANION-002 Phase 2/3 data for tovecimig (DLL4 x VEGF-A bispecific antibody) in patients with biliary tract cancer (BTC), prior to a potential BLA filing later this year. Tovecimig data from this study has also been selected for an oral presentation at the 2026 European Society for Medical Oncology (ESMO) Congress in October. CTX-8371 (PD-1 x PD-L1 bispecific antibody) Phase 1 cohort expansions are actively enrolling patients with triple-negative breast cancer, Hodgkin lymphoma and non-small cell lung cancer based on earlier responses in these indications. Data from the dose-escalation portion of this study were presented at the ASCO 2026 Annual Meeting in June. The first patients in the Phase 1 study for CTX-10726 (PD-1 x VEGF-A bispecific antibody) have been dosed and the study is actively enrolling, with initial data expected in Q4. The Phase 2 study of CTX-471 (CD137 agonist antibody) in patients with tumors expressing NCAM (CD56) will be initiated in Q3. $180 million in cash and marketable securities at the end of Q2 2026, which is expected to fund operations into 2028. BOSTON, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Compass Therapeutics, Inc. (Nasdaq: CMPX), a clinical-stage, oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics to treat multiple human diseases, today reported second quarter 2026 financial results and provided a business update. “We are increasingly encouraged by the strength and consistency of the tovecimig data as we deepen our analyses ahead of engaging FDA later this month, and we are pleased the full dataset has been selected for an oral presentation at ESMO in October. This enthusiasm is echoed in feedback we’ve received from leading BTC clinicians, which reinforces our belief that tovecimig will be an important treatment option for so many patients with BTC. In the coming weeks, we will be focused on engaging constructively with the FDA and incorporating any feedback as we advance towards a potential BLA filing,” said Thomas Schuetz, MD, PhD, Chief Executive Officer and Vice Chairman of the Board of Directors. “Building on our progress with tovecimig, we continued to advance our broader clinical pipeline this quarter. CTX-8371, our novel PD-1 x PD-L1 checkpoint inhibitor, continues to generate strong and durable clinical activity, some of which was presented at ASCO, and we are well underway with cohort expansions. We also continue to enroll patients in the Phase 1 study of CTX-10726, our differentiated PD-1 x VEGF-A bispecific antibody. We look forward to sharing a series of meaningful updates in the remainder of 2026, including FDA feedback shortly, that demonstrate our continued execution across the portfolio and our ability to translate novel science into differentiated clinical products.” Pipeline Updates: ezstandalone.cmd.push(function () { ezstandalone.showAds(131); }); Tovecimig (DLL4 x VEGF-A bispecific antibody) In April 2026, the Company announced positive data from its Phase 2/3 study of tovecimig, which it plans to include in a BLA submission later this year. The company expects to receive feedback from the FDA on these data in Q3 2026. In the final data analysis, the overall response rate (ORR), the primary endpoint in the study, improved to 18.0% (20/111 patients) in the tovecimig combination arm from a previously reported 17.1%. One patient initially characterized as “Non-CR / Non-PD” due to target lesion characteristics was ultimately adjudicated by blinded independent central review (BICR) to be a partial response. With this change, the p-value improved to 0.0228 compared to paclitaxel alone (ORR of 5.3% in the paclitaxel arm). The investigator sponsored trial (IST) of tovecimig in combination with the current first-line, standard-of-care regimen of gemcitabine, cisplatin, and durvalumab in patients with BTC ( NCT06548412 ) is ongoing with expansion to additional sites expected. Additional ISTs of tovecimig have been initiated, including a study of tovecimig plus FOLFIRI in patients with colorectal cancer in the second line setting ( NCT07662031 ); and a novel-novel combination study of tovecimig plus CTX-471 in patients with glioblastoma in the second line setting ( NCT07392957 ). The Company is evaluating additional studies for tovecimig in other indications, including both ISTs and Company-sponsored studies. CTX-8371 (PD-1 x PD-L1 bispecific antibody) Cohort expansions for CTX-8371 are actively enrolling patients with triple-negative breast cancer (n=28), non-small cell lung cancer (n=28), and Hodgkin lymphoma (n=12) in the post-checkpoint inhibitor setting. These indications were selected based on the deep and durable responses observed in these indications in the dose escalation portion of the study. Half of the patients with each tumor type will be dosed at 3.0 mg/kg and half will be dosed at 10.0 mg/kg. Phase 1 data from the dose-escalation portion of the study was presented at ASCO 2026 . Additional data from the cohort expansions are expected in Q4 2026. CTX-10726 (PD-1 x VEGF-A bispecific antibody) The first patients have been dosed in the Phase 1 study, and the study is actively enrolling, with initial clinical data expected in Q4 2026. The Phase 1 multiple ascending dose-escalation study will include four doses (0.3, 1.0, 3.0, and 10.0 mg/kg) in a 3+3 dose-escalation design. The multi-center study will enroll patients with a prioritized set of solid tumor indications, including patients with locally advanced, unresectable or metastatic renal cell carcinoma, gastroesophageal cancer, hepatocellular carcinoma, and endometrial cancer, in whom standard of care therapies have failed. CTX-10726 is a tetravalent PD-1 x VEGF-A bispecific antibody discovered and engineered by the Company. CTX-10726 exhibits more potent PD-1 blockade compared with data reported for other drugs in the class. CTX-471 (CD137 or 4-1BB agonist antibody) The Phase 2 trial of CTX-471 in patients with tumors expressing NCAM (CD56) will be initiated in Q3 2026. Financial Results Net loss for the quarter ended June 30, 2026, was $25.2 million or $0.13 per common share, compared to $19.9 million or $0.14 per common share for the same period in 2025. Net loss for the six months ended June 30, 2026, was $43.5 million or $0.23 per common share, compared to $36.5 million or $0.26 per common share for the same period in 2025. Research and Development (R&D) Expenses R&D expenses were $19.6 million for the quarter ended June 30, 2026, as compared to $16.4 million for the same period in 2025, an increase of $3.2 million or 19%. This was primarily driven by an increase of $2.6 million of expenses related to tovecimig. R&D expenses were $33.0 million for the six months ended June 30, 2026, as compared to $29.5 million for the same period in 2025, an increase of $3.5 million or 12%. This was primarily driven by an increase of $2.5M of stock compensation expense and $1.3M of manufacturing expense. General and Administrative (G&A) Expenses G&A expenses were $7.4 million for the quarter ended June 30, 2026, as compared to $4.7 million for the same period in 2025, an increase of $2.7 million or 59%. This was primarily driven by an increase of $1.4 million of pre-commercialization expenses and $0.8 million of higher stock compensation expense. G&A expenses were $14.3 million for the six months ended June 30, 2026, as compared to $9.6 million for the same period in 2025, an increase of $4.7 million or 50%. This was primarily driven by an increase of $3.1 million of pre-commercialization expenses and $2.1 million of higher stock compensation expense. Cash Position As of June 30, 2026, cash and marketable securities were $180 million as compared to $209 million as of December 31, 2025, a decrease of $29 million, with an anticipated cash runway into 2028. During the first six months of 2026, $32 million net cash was used in operating activities, which was partially offset by cash provided by financing activities of $3 million. About Compass Therapeutics Compass Therapeutics, Inc. is a clinical-stage oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics to treat multiple human diseases. The company’s scientific focus is on the relationship between angiogenesis, the immune system, and tumor growth. Compass has built a robust pipeline of novel product candidates designed to target multiple critical biological pathways required for an effective anti-tumor response. These pathways include modulation of the microvasculature via angiogenesis-targeted agents, induction of a potent immune response via activators on effector cells in the tumor microenvironment, and alleviation of immunosuppressive mechanisms used by tumors to evade immune surveillance. The company plans to advance its product candidates through clinical development as both standalone therapies and in combination with proprietary pipeline antibodies based on supportive clinical and nonclinical data. The Company was founded in 2014 and is headquartered in Boston, Massachusetts. For more information, visit the Compass Therapeutics website at Forward-Looking Statements This press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to Compass’s financial position to continue advancing its product candidates, expectations about cash runway, business and development plans, and statements regarding Compass’s product candidates, including their development and clinical trial milestones such as the expected trial design, timing of enrollment, patient dosing and data readouts, regulatory plans, interactions, and potential pathways with respect to Compass’s product candidates and the therapeutic potential thereof. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, Compass’s ability to raise the additional funding it will need to continue to pursue its business and product development plans, the inherent uncertainties associated with developing product candidates and operating as a development stage company, Compass’s ability to identify additional product candidates for development, Compass’s ability to develop, complete clinical trials for, obtain approvals for and commercialize any of its product candidates, competition in the industry in which Compass operates and market conditions. These forward-looking statements are made as of the date of this press release, and Compass assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents Compass files with the U.S. Securities and Exchange Commission (SEC) available at .gov, including without limitation Compass’s latest Annual Report on Form 10-K, Quarterly Report on Form 10-Q and subsequent filings with the SEC. Investor Contact ir@compasstherapeutics.com Media Contact Anna Gifford, Chief of Staff media@compasstherapeutics.com 617-500-8099 Compass Therapeutics, Inc. and Subsidiaries Consolidated Statement of Operations (In thousands, except per share data) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Operating expenses: Research and development $ 19,576 $ 16,415 $ 32,968 $ 29,476 General and administrative 7,403 4,651 14,310 9,556 Loss from operations (26,979 ) (21,066 ) (47,278 ) (39,032 ) Interest income 1,825 1,185 3,807 2,518 Net loss $ (25,154 ) $ (19,881 ) $ (43,471 ) $ (36,514 ) Net loss per share - basic and diluted $ (0.13 ) $ (0.14 ) $ (0.23 ) $ (0.26 ) Basic and diluted weighted average shares outstanding 186,798 138,282 186,600 138,259 Compass Therapeutics, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (In thousands) June 30, 2026 December 31, 2025 (unaudited) Assets Current assets: Cash and cash equivalents $ 35,453 $ 30,643 Marketable securities 144,426 178,263 Prepaid expenses and other current assets 1,011 913 Total current assets 180,890 209,819 Property and equipment, net 324 102 Operating lease, right-of-use ("ROU") asset 8,391 9,099 Other assets 568 568 Total assets $ 190,173 $ 219,588 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,906 $ 1,585 Accrued expenses 11,585 11,383 Operating lease obligations, current portion 1,637 1,000 Total current liabilities 16,128 13,968 Operating lease obligations, long-term portion 7,996 8,829 Total liabilities 24,124 22,797 Total stockholders' equity 166,049 196,791 Total liabilities and stockholders' equity $ 190,173 $ 219,588