Compass Therapeutics, Inc. is a clinical-stage, oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics to treat multiple human diseases. Compass’ scientific focus is on the relationship between angiogenesis, the immune system and tumor growth. The company was founded in 2014 and is headquartered in Boston, Massachusetts.
Compass has an active portfolio spanning Phase 1 and Phase 2/3 programs. It manages three to five concurrent clinical trials at any given time with two finance team members and one reviewer.
For each active study, the finance team had to gather CRO reports, pull individual site contracts, compare patient activity data from the clinical team, and manually reconcile everything into a single spreadsheet — ticking and tying across multiple workbooks to arrive at an accrual number they could stand behind.
One study, handled thoroughly, consumed a full day of multiple people's time — prep and review combined. With three to five active trials, quarter-end close consumed nearly a week of the finance team's calendar.
Assistant Controller Patrick O’Neill knew the team’s process would not scale as Compass expanded its trial portfolio and prepared to transition from 404A to 404B compliance.
Compass came to Condor through trusted channels — a peer already using the platform and a board member recommendation from another portfolio company. Patrick and his team chose Condor for two reasons.
First, accuracy. Before Condor, speed and precision were in tension: with multiple sites charging different rates for the same visit type, the team used averages to keep the process manageable. Condor eliminated that trade-off. Every accrual now reflects the actual contracted rate for each individual site — site one charges one amount, site two charges another, and the system applies the right number automatically. The manual comparison layer disappeared with it. No more VLOOKUPs pulling from the wrong workbook, no more formulas that didn't fully carry through, no more errors that a reviewer had to catch.
Condor gave Compass an independent estimate to hold against CRO reporting. That capability proved its worth during quarterly reconciliations, when Condor flagged a variance that led the team to identify a string of patient visits invoiced at incorrect amounts. It was the second such error Condor surfaced. The data was always there. Condor made it visible.
Second, productivity. What had previously consumed a full day of multiple people's time — pulling CRO reports, cross-referencing site contracts, manually reconciling patient activity data across workbooks — dropped to half a day per study, including the reviewer. Across three to five concurrent trials, that translated to nearly a full week of close time recovered each quarter.
For a small finance team already managing the breadth of Compass's financial close, that time had real value. It freed Patrick to move deeper into other financial risk areas. As the company's trial portfolio grows, the efficiency gap widens further — Condor helps absorb additional trial volume without requiring Compass to add headcount to keep pace.
“Condor gives clinical finance teams a much more efficient and cost effective way to manage one of the largest costs and financial risk areas in the biotech space. If you're still working off manual spreadsheets, you're doing yourself a disservice."
— Patrick O'Neill, Compass Therapeutics
Patrick is preparing to evaluate Condor's forecasting capabilities. As a biotech managing studies across multiple phase designations, the company currently builds budget estimates from limited historical data — a process that can lead to imprecise results. With a forecasting layer added to the platform, Compass sees a path to getting ahead of that variance before it compounds.
