COMPASS Pathways Plc American Depository Shares - CMPS STOCK NEWS

COMPASS Pathways (CMPS) announced positive results from its phase 2b trial of COMP360 psilocybin therapy for treatment-resistant depression (TRD), published in The New England Journal of Medicine. A single 25mg dose led to a remission rate of 29.1% at week 3, exceeding prior conventional treatments. Sustained response at week 12 was also notable, with 20.3% of patients remaining responsive. The company plans to initiate its phase 3 program by end of 2022, aiming to provide innovative treatment options for the 100 million globally affected by TRD.

COMPASS Pathways (CMPS) announced key updates, including the appointment of Kabir Nath as CEO and the submission of Phase III protocols for COMP360 psilocybin therapy to the FDA. The Phase II study in anorexia nervosa has commenced, addressing a significant unmet medical need. Financially, the company reported a net loss of $21.0 million for Q2 2022, compared to $17.5 million in Q2 2021, with cash reserves of $207.2 million. R&D and G&A expenses increased due to higher headcount and consulting fees, signaling advancing development efforts.

COMPASS Pathways plc (NASDAQ: CMPS) announced the grant of a non-qualified share option for 600,000 ordinary shares to their new CEO, Kabir Nath, as a material inducement for his employment. The option comes with an exercise price of $14.94, the closing price on the grant date, August 1, 2022. It vests over four years. Nath also received 50,000 restricted share units, vesting in equal annual installments. COMPASS focuses on psilocybin therapy for mental health challenges, with promising clinical trial results for treatment-resistant depression.

COMPASS Pathways plc (Nasdaq: CMPS) has initiated a phase II clinical trial to evaluate the efficacy of COMP360 psilocybin therapy in treating anorexia nervosa, a condition currently lacking approved pharmacological solutions. The study will involve 60 participants at four leading research institutes in the UK and US, assessing the impact of two doses of psilocybin with psychological support over a 12-week period. This trial aims to address a critical unmet need, given the high mortality rates associated with anorexia.

COMPASS Pathways plc (Nasdaq: CMPS) will release its financial results for Q2 2022 and provide updates on business developments on August 4, 2022. The management team will host a conference call at 8:00 AM ET, accessible via registration. The live webcast will also be available on the company's website and archived for 30 days.

COMPASS focuses on mental health innovations, particularly psilocybin therapy for treatment-resistant depression (TRD). Their proprietary formulation, COMP360, has received FDA Breakthrough Therapy designation, and positive results were reported from the largest psilocybin therapy clinical trial.

COMPASS Pathways has appointed Kabir Nath as Chief Executive Officer effective August 1, 2022. He succeeds George Goldsmith, who will transition to Executive Chairman until the end of 2022. Nath brings extensive experience from Otsuka Pharmaceutical, focusing on mental health innovations. Goldsmith remains the Chairman, having overseen significant milestones including COMPASS’ IPO and the FDA designation for COMP360 psilocybin therapy aimed at treatment-resistant depression. The leadership shift aims to enhance patient access to innovative mental health care.

COMPASS Pathways plc (Nasdaq: CMPS) reported encouraging results from the largest phase IIb trial of COMP360 psilocybin therapy for treatment-resistant depression (TRD). Conducted with 233 patients, the study revealed that a single 25mg dose led to a significant reduction in depressive symptoms after three weeks (p<0.001), with lasting effects up to 12 weeks. Patients in the 25mg group showed a sustained response rate of 20.3% at week 12, compared to 10.1% in the 1mg group. The therapy was generally well-tolerated, with common mild side effects. The company aims to further investigate the therapy's efficacy in larger trials.

COMPASS Pathways plc (Nasdaq: CMPS), a leader in mental health care innovation, announced participation in two significant events. The first is Citi’s Biopharma Virtual Co-Panel Day on May 18, 2022, focusing on mood disorders at 11:00 am ET. The second is the HC Wainwright Global Investments Conference on May 24, 2022, at 9:00 am ET. A live audio webcast will be accessible on their Investors section, with replays available for 30 days. COMPASS is advancing psilocybin therapy for treatment-resistant depression and PTSD, having completed a landmark phase IIb trial.

COMPASS Pathways (CMPS) reported a net loss of $21.2 million for Q1 2022, up from $12.7 million in Q1 2021. R&D expenses surged to $15.4 million due to advancements in its COMP360 psilocybin therapy for treatment-resistant depression (TRD). Positive FDA meetings and hit milestones include receiving Breakthrough Therapy designation and finalizing plans for a Phase III study. The company's cash position remains strong at $243.7 million, showcasing financial stability as they pursue innovative mental health treatments.