Compass Pathways Plc Stock Price, News & Analysis

COMPASS Pathways (CMPS) reported positive topline results from its phase IIb trial of COMP360 psilocybin therapy for treatment-resistant depression (TRD), indicating a rapid and sustained response from patients after a single 25mg dose. The company has also initiated a phase II study for PTSD and noted promising outcomes from an investigator-initiated study on cancer-related depression. Financially, COMPASS reported a net loss of $15.8 million for Q3 2021, with cash reserves of $294 million. The acquisition of an IP portfolio and new US patent for crystalline psilocybin were highlighted as advancements.

COMPASS Pathways plc (Nasdaq: CMPS) announced the successful results of its phase IIb clinical trial for COMP360 psilocybin therapy, targeting treatment-resistant depression (TRD). The trial involved 233 patients and achieved its primary endpoint, showing a statistically significant reduction in depressive symptoms with a 25mg dose compared to a 1mg dose, as indicated by a -6.6 points difference on the MADRS scale (p<0.001). The therapy was well tolerated, with over 90% of adverse events being mild or moderate. The company plans to initiate a pivotal phase III trial in 2022.

COMPASS Pathways (Nasdaq: CMPS) announced a Phase II clinical trial of COMP360 psilocybin therapy for PTSD on November 3, 2021. This multicenter study aims to evaluate the safety and tolerability of a single 25mg dose administered with psychological support, enrolling 20 adult participants. Conducted at King’s College London, the trial is part of COMPASS’s efforts to address the 40% of PTSD patients who do not respond to existing treatments. The primary endpoint is safety, with secondary endpoints assessing symptom improvement and quality of life.

COMPASS Pathways (CMPS) announced positive topline results from an open-label study of COMP360 psilocybin therapy for major depression in cancer patients. Conducted by Maryland Oncology Hematology, 50% of participants achieved remission in depression symptoms within one week, maintained for eight weeks. The study involved 30 patients, with an average initial MADRS score of 25.9, which dropped by 19.1 points after treatment. COMP360 therapy was well tolerated with no serious adverse events reported. Further research is anticipated to validate these promising results.

COMPASS Pathways plc (Nasdaq: CMPS) announced on 19 October 2021 that it received its fourth patent from the US Patent and Trademark Office, covering the Form A hydrate of psilocybin. This new patent (US Patent No 11,149,044) includes claims related to crystalline psilocybin and its use in treating major depressive disorder. CEO George Goldsmith emphasized the importance of this innovation for developing effective therapies for patients with treatment-resistant depression, as the company continues its phase IIb clinical trial of psilocybin therapy, COMP360, across Europe and North America.

COMPASS Pathways (Nasdaq: CMPS) has acquired an intellectual property portfolio encompassing patent applications for various psychedelic and empathogenic substances. Developed in collaboration with Matthias Grill, CEO of MiHKAL GmbH, this IP will contribute to a new research project aimed at creating innovative product candidates. The portfolio includes prodrugs and novel derivatives that enhance therapeutic effects and safety. COMPASS aims to advance some compounds into clinical development in the next two years, focusing on addressing urgent mental health challenges.

COMPASS Pathways (Nasdaq: CMPS) has engaged Hamilton Morris as a full-time consultant at the COMPASS Discovery Center in Philadelphia. Morris, a renowned research scientist and filmmaker, will focus on developing new psychedelic compounds for mental health therapies. This collaboration aims to enhance the exploration of psychedelics' medicinal value. COMPASS is known for its innovative psilocybin therapy, COMP360, which has received Breakthrough Therapy designation for treating treatment-resistant depression (TRD) and is currently undergoing a phase IIb clinical trial.

COMPASS Pathways (CMPS) announced significant progress in its phase IIb COMP360 psilocybin therapy trial for treatment-resistant depression, with 233 patients treated and data expected by the end of 2021. The trial is the largest of its kind globally. The company is also expanding its research portfolio, having established a partnership with major UK institutions to enhance psychedelic research. Financially, COMPASS reported a net loss of $17.5 million for Q2 2021, with cash reserves of $316.3 million post a successful public offering. New leadership appointments were also made to bolster clinical innovation.

COMPASS Pathways (Nasdaq: CMPS) announced key executive changes on July 29, 2021. Professor Guy Goodwin has been appointed as Chief Medical Officer, bringing extensive experience in psychiatry and a history of collaborating with COMPASS on psilocybin therapy trials for treatment-resistant depression. Meanwhile, CFO Piers Morgan will depart for a new role at CellCentric later this year. CEO George Goldsmith praised both Goodwin's expertise and Morgan's contributions, particularly during the company's IPO process.