Compass Pathways Plc Stock Price, News & Analysis

COMPASS Pathways (CMPS) has successfully completed psilocybin administration to 216 patients in its Phase IIb trial for treatment-resistant depression, the largest of its kind. Participants will be followed for 12 weeks, with final analysis including approximately 230 patients expected by July 8, 2021. The trial compares different doses of COMP360 psilocybin paired with psychological support. CEO George Goldsmith emphasized this achievement as a significant step towards delivering psilocybin therapy to patients. Following recent fund-raising of over $165 million, COMPASS is set to initiate Phase III trials once regulatory approval is obtained.

COMPASS Pathways plc (Nasdaq: CMPS) announces its role as a Founding Supporter of the British Neuroscience Association’s inaugural Scholars programme, aimed at supporting students from under-represented ethnic groups in neuroscience. This initiative aligns with COMPASS's commitment to equity, diversity, and inclusion (EDI) in mental health care. CEO George Goldsmith emphasized the company's dedication to equitable access in research. Along with seven other organizations, COMPASS aims to foster a supportive community through mentorship and networking opportunities.

COMPASS Pathways (Nasdaq: CMPS) announced positive results from a phase I trial of COMP360 psilocybin, showing no clinically-relevant negative effects on cognitive function. Conducted at King’s College London, the study involved 89 healthy volunteers and found trends of improved cognitive performance in patients. The findings support further research into psilocybin therapy for treatment-resistant depression (TRD).

The study's small sample size limits generalizability, but overall safety was confirmed with no serious adverse events reported.

COMPASS Pathways (Nasdaq: CMPS) announced promising findings from an exploratory study published in the New England Journal of Medicine, indicating positive activity of COMP360 psilocybin for major depressive disorder compared to escitalopram. The company raised $144 million in equity financing and is on track to report phase IIb clinical trial data for treatment-resistant depression by year-end 2021. Additionally, COMPASS secured two new patents for its psilocybin formulations. The net loss for Q1 2021 was $12.7 million, showing increased R&D and administrative expenses.

COMPASS Pathways (Nasdaq: CMPS) has announced a public offering of 4,000,000 American Depositary Shares (ADSs) at a price of $36.00 each, aiming for total proceeds of $144 million. This offering, which is expected to close around May 4, 2021, will support the company's mission to innovate in mental health care. An additional 600,000 ADSs may be purchased by underwriters. The offering is managed by Cowen, Evercore ISI, and Berenberg, and is compliant with SEC regulations.

COMPASS Pathways plc (Nasdaq: CMPS) has announced a proposed public offering of 4,000,000 American Depositary Shares (ADSs), each representing one ordinary share. The company may grant underwriters a 30-day option to purchase an additional 600,000 ADSs. The offering is subject to market conditions, and there is no guarantee on completion or terms. Joint book-running managers include Cowen, Evercore ISI, and Berenberg, with Cantor Fitzgerald and BTIG as lead managers. A registration statement is pending with the SEC, and the offering is directed only at Qualified Investors in the Relevant States.

COMPASS Pathways (Nasdaq: CMPS) responded positively to a recent study published in the New England Journal of Medicine on April 14, 2021. The study indicates potential efficacy of COMP360 psilocybin compared to escitalopram for major depressive disorder (MDD) involving 59 participants. While the primary measure showed no significant difference, secondary outcomes favored psilocybin, with 70.2% response rates versus 48.0% for escitalopram. Adverse events were similar across both treatments, primarily transient headaches.

COMPASS Pathways plc (Nasdaq: CMPS) announced a corporate update presentation at the 20th Annual Needham Virtual Healthcare Conference on April 15, 2021, at 8:00 am ET. The update will be delivered by CEO George Goldsmith and President Lars Wilde, along with 1:1 investor meetings. A live audio webcast will be accessible via the COMPASS website, with a 30-day replay available afterward. COMPASS focuses on innovative mental health care solutions, particularly through its psilocybin therapy, COMP360, currently in phase IIb clinical trials for treatment-resistant depression.

COMPASS Pathways (Nasdaq: CMPS) has appointed Dr. Wayne J. Riley to its Board of Directors, aiming to enhance its leadership in the mental health sector. Dr. Riley, with over 25 years of experience in healthcare and academia, is currently the President of SUNY Downstate Health Sciences University. His expertise is expected to support COMPASS's innovation in psilocybin therapy for treatment-resistant depression, which has received Breakthrough Therapy designation from the FDA. This appointment comes as COMPASS conducts a phase IIb clinical trial across 22 sites in Europe and North America.