Compass Pathways' Psilocybin Therapy Shows Mixed Results From Depression Trial

Compass Pathways plc CMPS has announced results from Phase 2b trial of COMP360 psilocybin therapy for treatment-resistant depression.
The study has achieved its primary endpoint for the highest dose, with a 25mg dose of COMP360 demonstrating a highly statistically significant and clinically relevant reduction in depressive symptom severity after three weeks, with rapid and durable treatment response.
The 10mg vs. 1mg dose did not show a statistically significant difference at week 3.
At least twice the number of patients in the 25mg group showed a response and remission at week 3 and week 12, compared with the 1mg group.
COMP360 was generally well tolerated, with more than 90% of treatment-emergent adverse events being mild or moderate in severity.
The Company plans to start a pivotal phase 3 program in 2022.
Compass posted a Q3 EPS loss of $(0.38) higher than $(1.30) a year ago.
Cash and cash equivalents were $294.0 million.
Price Action: CMPS shares up 7.78% at $39.71 during the premarket session on the last check Tuesday.

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