COMPASS Pathways

Compass Pathways Plc functions as an investment holding company. It operates through its subsidiaries which provide mental health care services. The company was founded by Goldsmith George Jay and Malievaskaia Ekaterina in 2016 and is headquartered in London, the United Kingdom.

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COMPASS Pathways reports Q4 earnings, faces challenges, explores opportunities

COMPASS Pathways showcased progress in its clinical programs, financial performance, and strategic initiatives. Despite challenges in trial protocols and financial losses, the company remains focused on advancing its treatment options and exploring growth opportunities.

COMPASS Pathways advances Phase 3 TRD program amidst financial challenges

COMPASS Pathways is making progress in their Phase 3 TRD program and maintaining a strong financial position for future developments.
Acceptance of new CPT codes and engagement with health systems present growth opportunities for the company.
However, challenges like financial losses, mixed views on commercialization, and operational differences exist.
Overall, COMPASS Pathways is strategically positioned to capitalize on the evolving landscape of psychedelic therapies.

COMPASS Pathways progresses in trials amidst market challenges and opportunities

COMPASS Pathways is advancing well in trials for treatment-resistant depression and strengthening its market position through IP protection and regulatory milestones.
Challenges lie in differentiation from competitors and establishing unique value propositions, but opportunities exist in FDA support, market growth, and funding flexibility.
Overall, the company's performance, financial stability, and strategic moves position it favorably in the evolving landscape of psychedelic therapies.

COMPASS Pathways reports strong Q3 earnings, eyes transformative 2024

COMPASS Pathways demonstrated robust financial performance in Q3 2023, with strong cash reserves and a strategic private placement financing, positioning the company well for upcoming milestones.
While facing challenges in patient recruitment and trial complexities, COMPASS is leveraging AI models and expanding clinical sites to optimize operations and drive therapeutic innovation.
With Phase III data on the horizon and ongoing advancements in research and development, COMPASS Pathways is poised for a transformative year in 2024, capitalizing on growth opportunities and research insights.

COMPASS Pathways advances COMP360 trials amid financial challenges

COMPASS Pathways' financials show investment in research and development despite net losses, with a strong cash position.
Progress in key trials for COMP360 in TRD and positive safety data indicate promising developments in mental health treatment.
Challenges in enrollment, delays in data, and regulatory monitoring require strategic navigation for future success.
Opportunities lie in collaborations, potential indications, and a focused approach to TRD treatment with COMP360.

COMPASS Pathways advances in clinical trials and strategic partnerships

COMPASS Pathways showcased strong clinical and financial performance in Q1 2024 earnings call, emphasizing progress in Phase III trials and positive PTSD study results
While facing challenges in risk mitigation and therapy comparisons, the company's strategic collaborations and upcoming data releases offer promising opportunities for growth

Compass Pathways faces trial delays, strengthens leadership for commercial success

Compass Pathways navigates delays in pivotal trials while focusing on data disclosure and commercial readiness. New leadership strengthens strategic direction and commercial landscape. Challenges include trial complexities and managing attrition rates, with opportunities in leveraging Phase III data and commercial collaborations.

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Compass Pathways Plc is an investment holding company. It operates through its subsidiaries which provide mental health care services. The company was founded by Goldsmith George Jay and Malievaskaia Ekaterina in 2016 and is headquartered in London, the United Kingdom.

LONDON, July 06, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced that the American Medical Association has released the language of its new Current Procedural Terminology (CPT®) III code for Continuous In-Person Monitoring and Intervention During Psychedelic Medication Therapy. The code will go into effect and will be published in the CPT manual on January 1, 2024. The approval of the new category CPT III code, announced in May following an application by COMPASS and MAPS Public Benefit Corporation (MAPS PBC), was supported by the American Psychiatric Association, American Psychological Association and the National Association of Social Workers. Once effective, the new code will provide a mechanism to track and report the delivery of psychedelic treatments and will cover, subject to FDA approval, COMPASS's COMP360 psilocybin treatment, which is currently in late-stage development for treatment-resistant depression, and MAPS' MDMA-AT for post-traumatic stress disorder. The new code, reported in increments of one hour, will cover multiple psychedelic compounds with psychological support models, if approved, as well as variable staffing structures and numbers and credentials of qualified healthcare professionals (QHPs). It will also offer a sub-code for the involvement of non-QHP clinical staff. The use of this category III tracking code will be key to developing optimal permanent and valued category I codes for psychedelic therapies as close as possible to their potential FDA approval.

American Medical Association Releases Language of First New Current Procedural Terminology Code for Psychedelic Therapies

LONDON, July 05, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced that the Company has entered into a term loan agreement with Hercules Capital, Inc. (NYSE: HTGC) for up to $50 million.

COMPASS Pathways Secures Term Loan Facility for Up to $50 Million from Hercules Capital

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LONDON, June 16, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will present at the following investor conferences:

COMPASS Pathways to participate in upcoming Cantor Fitzgerald and HC Wainwright investor conferences

LONDON, June 06, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation, announced today that the US Patent Trial and Appeal Board (PTAB) reaffirmed decisions to uphold ‘257 Patent and ‘259 Patent, key patents covering COMP360 crystalline psilocybin polymorph A, the polymorph being used in the Company's phase 3 clinical trials. The decision can be found on the USPTO website at: https://developer.uspto.gov/ptab-web/#/search/documents?proceedingNumber=PGR2022-00018.

COMPASS Pathways' key patents upheld by the US Patent and Trademark Office

LONDON, May 31, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation, today announced that Co-founder and Chief Innovation Officer Dr. Ekaterina Malievskaia will step down from her executive role effective June 16, 2023. She will remain a member of the COMPASS Pathways Board of Directors, while her executive responsibilities will be carried forward by the existing executive team.

COMPASS Pathways' Co-Founder Ekaterina Malievskaia to Step Down as Chief Innovation Officer

The research conducted at Cedar Clinical Research in Draper is part of the first ever phase 3 program of psilocybin therapy, and the largest of its kind VANCOUVER, BC , May 30, 2023 /PRNewswire/ - Numinus Wellness Inc. (TSX: NUMI) is pleased to announce that Cedar Clinical Research (CCR) has begun studying COMP360 psilocybin therapy, an investigational new therapy for treatment-resistant depression (TRD), as part of the largest-ever international clinical study of psilocybin therapy. Dr. Paul Thielking, Chief Science Officer at Numinus, and the team have begun accepting people with TRD who fulfill certain eligibility criteria to join the study.

Numinus to research COMP360 psilocybin therapy in treatment-resistant depression as part of large phase 3 study

LONDON, May 26, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will present at the Jefferies Healthcare Conference at 3:30 pm ET on June 8, 2023.

COMPASS Pathways to participate in upcoming Jefferies Healthcare Conference

Shares of Compass Pathways PLC climbed on Friday after the U.S.-listed healthcare group announced a successful follow-up study of a psychedelic drug used to treat major depression in cancer patients.

Compass shares jump as study shows psychedelic-based drug improved depression in cancer patients

LONDON, May 26, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced that new long-term efficacy data of investigational COMP360 psilocybin in cancer patients with major depressive disorder will be presented at the Annual Meeting of the American Society of Clinical Oncology (ASCO).

Data Demonstrating Long-Term Improvement in Depression in Cancer Patients Following Single Dose of COMP360 Psilocybin Therapy to be Presented at ASCO 2023

COMPASS Pathways plc (NASDAQ:CMPS ) Q1 2023 Earnings Conference Call May 11, 2023 8:00 AM ET Company Participants Steve Schultz - Senior Vice President of Investor Relations Kabir Nath - Chief Executive Officer Guy Goodwin - Chief Medical Officer Mike Falvey - Chief Financial Officer Conference Call Participants Elemer Piros - EF Hutton Charles Duncan - Cantor Fitzgerald Frank Brisebois - Oppenheimer & Co. Inc. Joshua Schimmer - Evercore ISI Patrick Trucchio - H.C. Wainwright & Co. Ritu Baral - Cowen and Company Neena Bitritto-Garg - Citi Sumant Kulkarni - Canaccord Genuity Operator Good day and thank you for standing by.

COMPASS Pathways plc (CMPS) Q1 2023 Earnings Call Transcript

COMPASS Pathways, a mental health care company focused on advancing its COMP360 psilocybin therapy for treatment-resistant depression (TRD), posted an earnings beat for the first quarter which sent its shares higher.  For the quarter ended in March, the company reported a loss of $24.2 million or a loss per share of $0.57, compared to a loss of $21.2 million or a loss per share of $0.50 in the comparable quarter in 2022.

COMPASS Pathways beats earnings forecast in 1Q; lays commercial groundwork for psilocybin therapy

LONDON, May 11, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, reported its financial results for the first quarter 2023 and gave an update on recent progress across its business.

COMPASS Pathways Announces First Quarter 2023 Financial Results and Business Highlights

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LONDON, May 03, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that it will release financial results for the first quarter 2023, and provide an update on recent business developments on 11 May 2023.

COMPASS Pathways plc to announce first quarter 2023 financial results on 11 May 2023

COMPASS Pathways and MAPS PBC submitted joint application for new code to facilitate access to psychedelic therapy in the US, if approved COMPASS Pathways and MAPS PBC submitted joint application for new code to facilitate access to psychedelic therapy in the US, if approved

American Medical Association to Issue First New Code for Psychedelic Therapies

LONDON, April 10, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will present at the 22nd Annual Needham Virtual Healthcare Conference at 9:30 am ET on April 19, 2023.

COMPASS Pathways to participate in upcoming 22nd Annual Needham Virtual Healthcare Conference

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Analysts at Canaccord Genuity (TSX:CF, LSE:CF) have reiterated their ‘Buy' rating and US$60 price target for COMPASS Pathways after the mental health care company adjusted the trial design for its COMP360 phase 3 program investigating psilocybin for treatment-resistant depression (TRD).   “We are not making any major changes to our model post-4Q22 results,” the analysts wrote in a note to clients.

COMPASS Pathways earns repeat ‘Buy' rating and US$60 price target on adjusted trial design for COMP360

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