Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

13. Subsequent events

On November 1, 2021, the Company announced that it priced an underwritten public offering (the "Offering") to sell 35,715,000 shares of common stock at a public offering price of $3.50 per share. In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 5,357,250 shares of common stock at the Offering price, less the underwriting discount. In connection with the Offering, the Company also announced that its common stock would begin trading on the Nasdaq Capital Market under the symbol “CMPX” at the opening of trading on November 2, 2021. The Offering closed on November 4, 2021. The Company received net proceeds from the Offering, after deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company, of approximately $117.3 million.

On November 8, 2021, the Company paid off the balance of its notes, and terminated the Credit Facility (see Note 6). After this pay off, the Company has no additional debt facilities.