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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 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.
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.
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