COMPASS Pathways Plc American Depository Shares - CMPS STOCK NEWS

COMPASS Pathways (Nasdaq: CMPS) has engaged Hamilton Morris as a full-time consultant at the COMPASS Discovery Center in Philadelphia. Morris, a renowned research scientist and filmmaker, will focus on developing new psychedelic compounds for mental health therapies. This collaboration aims to enhance the exploration of psychedelics' medicinal value. COMPASS is known for its innovative psilocybin therapy, COMP360, which has received Breakthrough Therapy designation for treating treatment-resistant depression (TRD) and is currently undergoing a phase IIb clinical trial.

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.