November 2, 2022 11:11am

CMPX is trading up +$0.29 (+8.50%) at $3.71

CMPX has entered into a securities purchase agreement with a select group of institutional investors to issue and sell an aggregate of 25 million shares of its common stock at an offering price of $3.21 per share.

CMPX anticipates the gross proceeds from the PIPE to be approximately $80 million, before deducting fees to the placement agents and other offering expenses.

The closing of the financing is expected to occur by November 8, 2022, subject to the satisfaction of customary closing conditions.


This private placement was led by Enavate Sciences, a portfolio company of Patient Square Capital, with participation by Janus Henderson Investors, Braidwell LP, Vivo Capital, Adage Capital Partners LP, OrbiMed, Monashee Investment Management and DAFNA Capital Management LLC, among others.

In connection with the PIPE, Compass has also appointed James P. Boylan, Chief Executive Officer of Enavate Sciences, to its board of directors.


The Bottom Line: utilizing solid investors ensures a positive financing as reflected by stats.

Stats: 52-week high of 4.10 and a low of $1.25

Shares Outstanding: 101.28 M

Float: 59.95 M shares

Percent (%) held by Insiders: 10.94%

Shares Held by Institutions: 61.40%

Total Cash: $132.02M

Debt: $3.5 M