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Compass Pathways Plc (Nasdaq: CMPS) is a biotechnology company at the forefront of mental health innovation, dedicated to accelerating patient access to evidence-based therapies. Headquartered in London, UK, with offices in New York and San Francisco, Compass is pioneering a new model of psilocybin therapy, specifically targeting treatment-resistant depression (TRD). The company’s flagship product, a proprietary high-purity polymorphic crystalline formulation of synthetic psilocybin known as COMP360, is at the core of their therapeutic approach.
Compass Pathways has made significant strides in mental health care by combining psilocybin treatment with psychological support. This dual approach is designed to provide comprehensive care for patients unresponsive to standard treatments. COMP360 has been designated a 'Breakthrough Therapy' by the U.S. Food and Drug Administration (FDA) and also received the Innovative Licensing and Access Pathway (ILAP) designation in the UK for TRD.
The company's research is supported by robust clinical trials. Compass has commenced a Phase 3 clinical program for COMP360, making it the largest randomized, controlled, double-blind psilocybin treatment clinical program ever conducted. Previous Phase 2b studies have shown that a single 25mg dose of COMP360 can significantly improve depressive symptoms with sustained effects over weeks. In addition to TRD, Compass is exploring the potential of COMP360 for treating post-traumatic stress disorder (PTSD) and anorexia nervosa through ongoing Phase 2 clinical trials.
Recent collaborations with leading healthcare institutions like Hackensack Meridian Health and Journey Clinical are aimed at understanding and optimizing the delivery models for COMP360, should it receive FDA approval. These partnerships also include exploration into therapist training and care reimbursement processes to ensure that the treatment can be integrated smoothly into existing healthcare systems.
Financially, Compass Pathways remains committed to transparency and regular updates to investors through various platforms including their website, social media, and investor relations channels. The company's vision is to create a world where mental well-being is within reach for all.
For the latest news and updates on Compass Pathways, visit www.compasspathways.com.
Compass Pathways (NASDAQ: CMPS) announced key updates in its Q3 2024 financial results. The company reported a delay in its COMP360 phase 3 program, with top-line COMP005 data now expected in Q2 2025 and COMP006 data in H2 2026. The company is implementing a strategic reorganization, including a 30% workforce reduction and discontinuation of non-COMP360 preclinical efforts. Q3 2024 financial results showed a net loss of $38.5 million, with R&D expenses at $32.9 million and G&A expenses at $15.0 million. The company maintains a strong cash position of $207 million, expected to fund operations into 2026.
Compass Pathways (NASDAQ: CMPS), a mental health biotechnology company, announced it will release its third quarter 2024 financial results on October 31, 2024. The company will host a conference call at 8:00 am ET (12:00 pm UK) to discuss financial results and provide business updates. A live webcast will be available on the company's website and archived for 30 days.
Compass Pathways (Nasdaq: CMPS), a biotechnology company focused on mental health innovation, has announced its participation in the Cowen Psychedelics and Novel Mechanisms in Neuropsychiatry Summit. The company's management team will engage in a fireside chat on September 26, 2024, at 1:20pm ET.
This event highlights Compass Pathways' involvement in the growing field of psychedelic-based therapies and novel approaches to neuropsychiatry. Interested parties can access a live audio webcast of the chat through the Events page on the Compass website. The recording will remain available for 30 days following the event, providing an opportunity for those unable to attend live to catch up on the discussion.
Compass Pathways (NASDAQ: CMPS) reported its Q2 2024 financial results and business highlights. Key points include:
1. Top-line data for COMP360 phase 3 pivotal program in treatment-resistant depression expected in Q4 2024.
2. Gino Santini to join as Board Chairman; Lori Englebert named new Chief Commercial Officer.
3. Cash position of $228.6 million, expected to fund operations into 2026.
4. Q2 2024 net loss of $38.1 million ($0.56 per share), compared to $28.3 million ($0.62 per share) in Q2 2023.
5. Positive results from phase 2 post-traumatic stress disorder study.
6. Q3 2024 net cash used in operating activities expected to be $32-38 million; full-year 2024 expected to be $110-130 million.
Compass Pathways has appointed Lori Englebert as Chief Commercial Officer, effective July 8, 2024. Lori joins from Axsome Therapeutics, where she was instrumental in the company's transition from clinical to commercial stage. Her experience includes commercializing CNS-focused assets at Axsome and Amgen. This appointment follows Teri Loxam as CFO and Dr. Michael Gold as Chief R&D Officer earlier this year. CEO Kabir Nath highlights the strengthened leadership team as important for navigating phase 3 trials and potential regulatory approval of COMP360, a psilocybin treatment for treatment-resistant depression.
Compass Pathways plc announced its first quarter 2024 financial results and key business highlights, including positive phase 2 COMP360 data in PTSD, on track phase 3 pivotal program in TRD, new commercial collaborations, appointment of Michael Gold as Head of R&D, and financial updates. The company's cash position was $262.9 million as of March 31, 2024.
Compass Pathways plc (Nasdaq: CMPS) reported top-line results from an open-label phase 2 study evaluating the safety and tolerability of COMP360 psilocybin treatment in 22 patients with PTSD. The study showed durable improvement in symptoms, with a significant reduction in the mean CAPS-5 total score and Sheehan Disability Scale (SDS) score. The administration of COMP360 was well-tolerated, with high response and remission rates observed. The results suggest a potential clinically meaningful benefit for patients with PTSD and open up possibilities for further research.
Compass Pathways plc (CMPS) partners with Mindful Health Solutions (MHS) to develop a cost-effective delivery model for COMP360 psilocybin treatment for treatment-resistant depression. This collaboration aims to understand potential approaches to deliver COMP360 in different care settings. MHS, a top behavioral health care provider in the US, will work with Compass to research patient pathways, therapist training needs, treatment rooms, and reimbursement considerations for psychedelic treatments. The goal is to make innovative treatments accessible to patients living with depression.
Compass Pathways and Journey Clinical have entered into a research collaboration agreement to inform the development of a scalable delivery and healthcare provider training model for COMP360 psilocybin treatment, if approved for treatment-resistant depression (TRD). This collaboration aims to better understand patient care experience, depression patient pathways, and care reimbursement processes, exploring innovative care pathways for TRD patients. Journey Clinical's infrastructure connects medical teams, licensed therapists, and patients for responsible and scalable delivery of psychedelic treatments. This agreement reflects Compass's focus on bringing psychedelic treatments to patients safely and at scale.
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