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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 (CMPS) announced significant progress in its phase IIb COMP360 psilocybin therapy trial for treatment-resistant depression, with 233 patients treated and data expected by the end of 2021. The trial is the largest of its kind globally. The company is also expanding its research portfolio, having established a partnership with major UK institutions to enhance psychedelic research. Financially, COMPASS reported a net loss of $17.5 million for Q2 2021, with cash reserves of $316.3 million post a successful public offering. New leadership appointments were also made to bolster clinical innovation.
COMPASS Pathways (Nasdaq: CMPS) announced key executive changes on July 29, 2021. Professor Guy Goodwin has been appointed as Chief Medical Officer, bringing extensive experience in psychiatry and a history of collaborating with COMPASS on psilocybin therapy trials for treatment-resistant depression. Meanwhile, CFO Piers Morgan will depart for a new role at CellCentric later this year. CEO George Goldsmith praised both Goodwin's expertise and Morgan's contributions, particularly during the company's IPO process.
COMPASS Pathways (Nasdaq: CMPS) announced the appointment of Danielle Schlosser, PhD, as Senior Vice-President of Clinical Innovation. Schlosser, who previously led behavioral health initiatives at Verily Life Sciences, will oversee the Therapy Research and Training team at COMPASS. The company, focused on innovative mental health solutions, is advancing its psilocybin therapy for treatment-resistant depression and is preparing for a phase III clinical trial. COMPASS has expanded its workforce to 100, enhancing its research and digital capabilities.
COMPASS Pathways (CMPS) has successfully completed psilocybin administration to 216 patients in its Phase IIb trial for treatment-resistant depression, the largest of its kind. Participants will be followed for 12 weeks, with final analysis including approximately 230 patients expected by July 8, 2021. The trial compares different doses of COMP360 psilocybin paired with psychological support. CEO George Goldsmith emphasized this achievement as a significant step towards delivering psilocybin therapy to patients. Following recent fund-raising of over $165 million, COMPASS is set to initiate Phase III trials once regulatory approval is obtained.
COMPASS Pathways plc (Nasdaq: CMPS) announces its role as a Founding Supporter of the British Neuroscience Association’s inaugural Scholars programme, aimed at supporting students from under-represented ethnic groups in neuroscience. This initiative aligns with COMPASS's commitment to equity, diversity, and inclusion (EDI) in mental health care. CEO George Goldsmith emphasized the company's dedication to equitable access in research. Along with seven other organizations, COMPASS aims to foster a supportive community through mentorship and networking opportunities.
COMPASS Pathways (Nasdaq: CMPS) announced positive results from a phase I trial of COMP360 psilocybin, showing no clinically-relevant negative effects on cognitive function. Conducted at King’s College London, the study involved 89 healthy volunteers and found trends of improved cognitive performance in patients. The findings support further research into psilocybin therapy for treatment-resistant depression (TRD).
The study's small sample size limits generalizability, but overall safety was confirmed with no serious adverse events reported.
COMPASS Pathways (Nasdaq: CMPS) announced promising findings from an exploratory study published in the New England Journal of Medicine, indicating positive activity of COMP360 psilocybin for major depressive disorder compared to escitalopram. The company raised $144 million in equity financing and is on track to report phase IIb clinical trial data for treatment-resistant depression by year-end 2021. Additionally, COMPASS secured two new patents for its psilocybin formulations. The net loss for Q1 2021 was $12.7 million, showing increased R&D and administrative expenses.
COMPASS Pathways (Nasdaq: CMPS) has announced a public offering of 4,000,000 American Depositary Shares (ADSs) at a price of $36.00 each, aiming for total proceeds of $144 million. This offering, which is expected to close around May 4, 2021, will support the company's mission to innovate in mental health care. An additional 600,000 ADSs may be purchased by underwriters. The offering is managed by Cowen, Evercore ISI, and Berenberg, and is compliant with SEC regulations.
COMPASS Pathways plc (Nasdaq: CMPS) has announced a proposed public offering of 4,000,000 American Depositary Shares (ADSs), each representing one ordinary share. The company may grant underwriters a 30-day option to purchase an additional 600,000 ADSs. The offering is subject to market conditions, and there is no guarantee on completion or terms. Joint book-running managers include Cowen, Evercore ISI, and Berenberg, with Cantor Fitzgerald and BTIG as lead managers. A registration statement is pending with the SEC, and the offering is directed only at Qualified Investors in the Relevant States.
COMPASS Pathways (Nasdaq: CMPS) responded positively to a recent study published in the New England Journal of Medicine on April 14, 2021. The study indicates potential efficacy of COMP360 psilocybin compared to escitalopram for major depressive disorder (MDD) involving 59 participants. While the primary measure showed no significant difference, secondary outcomes favored psilocybin, with 70.2% response rates versus 48.0% for escitalopram. Adverse events were similar across both treatments, primarily transient headaches.
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