Mentioned:
CMPS -7.20% ATAI -12.33%
Compass Pathways wants to bring psychedelic derived medicines to the masses. And now, they’re closer than ever before.
What’s happening:
- Compass Pathways (NASDAQ: CMPS) has successfully achieved the primary endpoint for their COMP360 drug in their second Phase III trial for treating individuals with treatment resistant depression
Why it matters:
- COMP360 is a synthetic version of psilocybin that is manufactured as a pharmaceutical grade drug substance for clinical use in patients with treatment resistant depression and is one of the most advanced psychedelic derived drug candidates in the world
Going deeper:
- Compass Pathways proved that two 25mg doses of COMP360 results in a meaningful reduction in depression with 6 weeks in their new Phase III trial
- Compass Pathways previously validated in their first Phase III trial for COMP360 that one single 25mg dose of COMP360 had a greater reduction in depression symptoms than those on placebo after 6 weeks
The intrigue:
- Compass Pathways is co-founded by billionaire investor Christian Angermayer who has been pouring tens of millions of dollars in AtaiBeckley (NASDAQ: ATAI) lately, who also notably owns a significant equity position in Compass Pathways
