Compass Pathways Plc Stock Price, News & Analysis

Compass Pathways (NASDAQ: CMPS) has appointed Steve Levine, M.D., as Chief Patient Officer in a newly created executive role. Dr. Levine, who has been with Compass since 2020 as Senior Vice President of Patient Access, will focus on embedding patient-centric strategies across the organization and ensuring treatments address unmet clinical care needs.

Dr. Levine is a board-certified psychiatrist with extensive experience in healthcare innovation and access. He previously founded Actify Neurotherapies, developing care delivery models for interventional psychiatry treatments. His academic background includes training at New York-Presbyterian Hospital/Weill Cornell Medical Center and Memorial Sloan Kettering Cancer Center. He currently serves as an adjunct professor at Rutgers Medical School.

Compass Pathways (NASDAQ: CMPS) has announced the pricing of an underwritten offering of 24,014,728 American Depositary Shares (ADSs) and pre-funded warrants for up to 11,044,720 ADSs. Each ADS and pre-funded warrant includes an ADS Warrant with an exercise price of $5.796, representing a 40% premium to the last sale price.

The offering price is set at $4.275 per ADS and accompanying ADS Warrant, and $4.2649 per pre-funded warrant and ADS Warrant. The offering, led by Deep Track Capital, is expected to generate gross proceeds of approximately $150 million, potentially reaching $353 million if all ADS Warrants are exercised.

The proceeds will fund ongoing Phase 3 trials in treatment-resistant depression (COMP005 and COMP006), with data expected in Q2 2025 and H2 2026, respectively. Additionally, funds will accelerate a late-stage PTSD development program and support working capital needs.

Compass Pathways (Nasdaq: CMPS), a mental health-focused biotechnology company, announced its inclusion in the NASDAQ Biotechnology Index (NBI), effective December 23, 2024. The NBI tracks biotechnology and pharmaceutical companies listed on NASDAQ, using a modified market capitalization weighted methodology. Index membership requires companies to meet specific criteria including minimum market capitalization and average daily trading volume. The index undergoes annual reconstitution in December.

Compass Pathways (Nasdaq: CMPS), a mental health biotechnology company, has announced its participation in two major investor conferences this December. The company's executive management team will engage in fireside chats at the 7th Annual Evercore ISI HealthCONx Conference on December 3, 2024, at 10:25am ET, and the Piper Sandler 36th Annual Healthcare Conference on December 4, 2024, at 3:30pm ET. Live audio webcasts will be available for 30 days after the events.

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.