COMPASS Pathways Plc American Depository Shares - CMPS STOCK NEWS

COMPASS Pathways plc (Nasdaq: CMPS) has made significant progress with its COMP360 psilocybin therapy. The Phase 3 pivotal program for treatment-resistant depression (TRD) includes two trials, with the first one (COMP 005) expecting data by summer 2024 and the second (COMP 006) by mid-2025. The company's cash position stands at $143.2 million as of December 31, 2022, despite a net loss of $91.5 million for the year. R&D expenses increased to $65.1 million for 2022, reflecting ongoing clinical investigations. Financial guidance for Q1 2023 indicates an operating cash outflow of $24-$32 million.

COMPASS Pathways (Nasdaq: CMPS) announced its plans to release financial results for Q4 and year-end 2022 on February 28, 2023. Alongside the financial results, the company will update investors on recent business developments. A conference call will be held at 8:00 AM ET (1:00 PM UK), where the management team will discuss these updates. The call can be accessed by pre-registering, and a live webcast will also be available on the company's website. COMPASS specializes in mental health innovation, focusing on psilocybin therapy with its proprietary formulation, COMP360, designated as a Breakthrough Therapy by the FDA.

COMPASS Pathways (Nasdaq: CMPS) announced promising results from a recent study on COMP360 psilocybin therapy. In an exploratory open-label study for type II bipolar disorder, 86% of participants achieved remission within three months after a single 25mg dose. Additionally, data from a phase 2b trial for treatment-resistant depression (TRD) was presented, highlighting the correlation between positive psychedelic experiences and reduced depression severity. The therapy has received FDA Breakthrough Therapy designation, signaling its potential in mental health treatment.

LONDON, Nov. 28, 2022 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS) will host a fireside chat at the Evercore ISI HealthCONx Conference at 9:15 am ET on November 30, 2022. A live audio webcast will be available on the COMPASS website's Events page, with a replay accessible for 30 days post-event. The company, focused on mental health innovation, is developing psilocybin therapy with its proprietary formulation, COMP360, which has received Breakthrough Therapy designation from the FDA for treatment-resistant depression. COMPASS also conducts trials for PTSD and anorexia nervosa.

COMPASS Pathways (CMPS) has finalized the design for its Phase 3 pivotal program targeting treatment-resistant depression, set to commence in 2022. The Phase 2b trial data has been published in The New England Journal of Medicine, further validating the program. Financially, the company reported a net loss of $18.4 million for Q3 2022, up from $15.8 million in Q3 2021. Cash reserves stand at $173.1 million. Management remains optimistic as the COMP360 psilocybin therapy advances, with pivotal trial data expected in late 2024 and mid-2025.

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.