Compass Pathways shares surged over 30% on Tuesday after the company announced positive results from COMP006, the second of two pivotal Phase 3 trials for its psilocybin-based therapy COMP360 in treatment-resistant depression.

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Compass Pathways shares surged over 30% on Tuesday after the company announced positive results from COMP006, the second of two pivotal Phase 3 trials for its psilocybin-based therapy COMP360 in treatment-resistant depression.

#CMPS #CMPSStock #COMP360 #CompassPathways #Psychedelics

Compass points to strong psilocybin data in depression Armed with new data, Compass wants to talk to the FDA about filing its psilocybin therapy COMP360 for approval in treatment-resistant depression.

#Psychedelic drug developer #CompassPathways is preparing to talk to the #FDA about filing its #psilocybin therapy COMP360 for approval in treatment-resistant #depression (TRD), after reporting positive results in a pair of phase 3 trials.

Compass Pathways announced that the US FDA has accepted its Investigational New Drug application for COMP360, a psilocybin-based therapy for PTSD.

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COMPASS PATHWAYS FAST-TRACKS COMP360 LAUNCH BY UP TO A YEAR

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Compass Pathways shared updates on its clinical pipeline and regulatory progress, highlighting momentum around its lead candidate COMP360 for treatment-resistant depression (TRD).

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Compass Pathways price target lowered to $7 by BTIG on drug concerns Investing.com - BTIG lowered its price target on Compass Pathways (NASDAQ:CMPS) to $7.00 from $12.00 on Tuesday while maintaining a Buy rating, citing concerns about the company’s COMP360 drug development. For deeper insights into CMPS’s financial health and growth potential, InvestingPro subscribers gain access to detailed valuation metrics, peer comparisons, and expert analysis of biotech sector trends. The research firm expressed worry that COMP360 represents "the very careful development of a mediocre drug relative to other options" in both psychedelic and non-psychedelic pipelines. BTIG noted the latest top-line announcement showed a MADRS reduction from the 25 mg to 1 mg dose of about 4 units, consistent with Phase 2 results. The consistency between Phase 2b and Phase 3 trials was highlighted as impressive in the treatment-resistant depression (TRD) field, where clinical trials are typically challenging. BTIG referenced Lilly’s 2006 Symbyax trials, where one study showed significant benefits while another showed no treatment effects. BTIG indicated the equivalence to SPRAVATO was expected based on prior data, suggesting the market for COMP360 would likely be patients who have already tried some form of ketamine. The firm anticipates this market positioning would persist for several years. The analyst also noted recent compelling treatment effects from private company Gilgamesh’s trial, which raises the possibility that easier-to-use drugs with lighter or no psychedelic effects may prove as effective in treating depression as major hallucinogens like psilocybin and LSD. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.

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PRISM Mid-Day Movers:
#COMPASSPathways ( #CMPS) dives 45%
#wearehims & Hers ( #HIMS) drops 30%
Other PRISM Mid-Day Movers:
• CorMedix Inc. ( #CRMD) up 17.85%
• #skyebioscience , Inc. ( #SKYE) up 28.66%
• Houston American Energy Corp. ( #HUSA) up 43.78%
prismmarketview.com/prism-mid-da...

Compass Pathways stock plunges after Phase 3 trial results Investing.com -- Compass Pathways Plc (NASDAQ:CMPS) stock plunged 35.2% after the biotechnology company announced results from its Phase 3 COMP005 trial for COMP360, its synthetic psilocybin formulation for treatment-resistant depression (TRD). Despite meeting its primary endpoint with a statistically significant reduction in depression symptoms compared to placebo (p<0.001), investors appeared disappointed by the modest clinical benefit. The trial showed a -3.6 point difference in Montgomery-Åsberg Depression Rating Scale (MADRS) scores at week 6 between patients receiving a single 25mg dose of COMP360 and those receiving placebo. The Phase 3 COMP005 trial, which dosed 258 participants across 32 U.S. sites, represents the first study of synthetic psilocybin and the first classic psychedelic to report Phase 3 efficacy data for depression treatment. According to the Data Safety Monitoring Board, safety findings were consistent with previous studies of COMP360 with no new or unexpected safety concerns. Kabir Nath, CEO of Compass Pathways, characterized the results as showing "innovative potential of psilocybin treatment in mental health care," while noting the company anticipates further insights from the full dataset and from the ongoing COMP006 trial, which will explore two fixed doses. The company plans to discuss these preliminary data with the FDA, which has not yet reviewed the results. Compass Pathways continues to position COMP360 as a potential option for patients who have failed multiple currently approved treatments for depression. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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