COMPASS Pathways plc
CMPS evidence brief
What we can confirm
- BioSniper Score:
- 6.0 / 10
- Market Cap:
- $1.94B
- Lead Asset:
- COMP360 (Phase 3)
What it means
What to watch
Prepared research question
What matters most for CMPS—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CMPS
COMPASS Pathways plc (CMPS) is a late-stage clinical biotechnology company focused on accelerating patient access to evidence-based innovation in mental health, with its lead program being COMP360, a proprietary psilocybin formulation for treatment-resistant depression (TRD) [sec · filed 2026-04-15].
Key risk: Regulatory and DEA scheduling risks
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$1.94B
Cash Runway
—
Lead Asset
COMP360 (Phase 3)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 5 clinical trials for COMPASS Pathways plc.
COMPASS Pathways plc (CMPS) is a late-stage clinical biotechnology company focused on accelerating patient access to evidence-based innovation in mental health, with its lead program being COMP360, a proprietary psilocybin formulation for treatment-resistant depression (TRD) [sec · filed 2026-04-15].
- COMPASS Pathways is a late-stage clinical biotechnology company dedicated to mental health innovation, with an initial focus on treatment-resistant depression (TRD) [sec · filed 2026-04-15].
- The company's lead program, COMP360, is a proprietary psilocybin formulation that received Breakthrough Therapy designation from the FDA for TRD in 2018 [sec_mda · as of 2026-08-05].
- COMPASS completed enrollment for its Phase 3 clinical program in TRD in 2025, consisting of two pivotal trials, and achieved the primary endpoint in the first trial in June 2025 [sec · filed 2026-04-15].
- As of 2026-06-30, the company reported cash & equivalents of $433.3M and a net income of -$253.8M [sec].
- The company is advancing a rolling NDA submission for COMP360 in TRD, targeting a potential launch in the first half of 2027 [news · published 2026-08-05].
What works
- COMPASS Pathways has a strong cash position of $433.3M as of 2026-06-30, providing a substantial runway to fund ongoing clinical programs and pre-commercial activities [sec].
- The company achieved the primary endpoint in the first of two pivotal Phase 3 trials for COMP360 in TRD in June 2025, a key milestone for a psilocybin agent [sec · filed 2026-04-15].
- COMP360 has received Breakthrough Therapy designation from the FDA for TRD, which may facilitate a more efficient regulatory review process [sec_mda · as of 2026-08-05].
- The company is expanding its pipeline with a Phase 2b/3 trial in PTSD, for which the FDA has accepted its IND, indicating potential for a second major indication [sec · filed 2026-04-15].
What to weigh
- The company reported a net loss of -$253.8M as of 2026-06-30, reflecting significant operating losses that are expected to continue as it completes its Phase 3 program and prepares for commercial launch [sec].
- The successful development and commercialization of COMP360 is highly uncertain due to numerous risks, including regulatory hurdles, DEA scheduling decisions, and the need to establish a network of clinics for administration [sec_mda · as of 2026-08-05].
- COMPASS Pathways has a negative shareholders' equity of $84.5M as of 2026-06-30, indicating that liabilities exceed assets [sec].
- The company faces the challenge of needing to raise additional capital on favorable terms to sustain operations until it can generate revenue from COMP360 sales, if ever [sec_mda · as of 2026-08-05].
From the filings
Quoted directly from source documents.
COMPASS Pathways is a late-stage clinical biotechnology company focused on mental health.
“We are a late-stage, clinical biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health.”
SEC filings · April 15, 2026
COMP360 received Breakthrough Therapy designation from the FDA for TRD in 2018.
“In 2018, we received Breakthrough Therapy designation from the U.S. Food and Drug Administration, or the FDA for COMP360 for the treatment of TRD.”
SEC MD&A · August 5, 2026
The company achieved the primary endpoint in the first Phase 3 trial for COMP360 in TRD in June 2025.
“We successfully achieved the primary endpoint in the first of these two pivotal trials in June 2025.”
SEC filings · April 15, 2026
Catalyst timeline
- 2022-06-10 · Phase 2 Start: The Safety and Tolerability of COMP360 in Participants With Post-traumatic Stress Disorder — Initiation of a Phase 2 trial for COMP360 in PTSD, expanding the pipeline beyond TRD.
- 2023-01-24 · Phase 3 Start: A Phase III, Multicentre, Randomised, Double-blind, Placebo-controlled Study to Investigate the Efficacy, Safety, and Tolerability of COMP360 in Participants With Treatment-resistant Depression — Start of the first pivotal Phase 3 trial for COMP360 in TRD.
- 2023-01-30 · Phase 2 Start: A Phase II, Multicentre, Randomised, Double-blind, Controlled Study to Investigate the Safety, Tolerability, Pharmacokinetics, and Efficacy of COMP360 in Participants With Recurrent Major Depressive Disorder — Initiation of a Phase 2 trial for COMP360 in recurrent major depressive disorder.
- 2023-02-14 · Phase 3 Start: A Phase III, Multicentre, Randomised, Double-blind, Controlled Study to Investigate the Efficacy, Safety, and Tolerability of COMP360 in Participants With Treatment-resistant Depression — Start of the second pivotal Phase 3 trial for COMP360 in TRD.
Risks & what to watch (4)›
Key risks
- Regulatory and DEA scheduling risks — Commercialization of COMP360 requires DEA scheduling decisions and regulatory approvals, which are uncertain [sec_mda · as of 2026-08-05].
- Financial sustainability — The company has a net loss of -$253.8M and negative equity, with expectations of continued losses until revenue generation [sec].
- Clinical trial execution — Successful completion of Phase 3 trials in TRD and the Phase 2b/3 PTSD trial is uncertain [sec_mda · as of 2026-08-05].
- Commercial infrastructure — Establishing a network of clinics for COMP360 administration is a significant operational challenge [sec_mda · as of 2026-08-05].
What to watch
- Completion of the rolling NDA submission for COMP360 in TRD, targeting a first-half 2027 launch [news · published 2026-08-05].
- Progress and results of the Phase 2b/3 clinical trial for COMP360 in PTSD, for which an IND has been accepted [sec · filed 2026-04-15].
- Cash runway management and any future capital raises, given the company's significant operating losses [sec].
- DEA scheduling decisions and state-level regulatory actions that will impact commercialization of COMP360 [sec_mda · as of 2026-08-05].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated October 9, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 4.97 · 0% dilution
Lead: Phase 3
2 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
191
Total value held
$514.8M
| Holder | Shares | Value |
|---|---|---|
| deep track capital, lp | 12,161,496 | $67.3M |
| rtw investments, lp | 10,632,390 | $58.8M |
| marshall wace, llp | 4,038,335 | $22.3M |
| tang capital management llc | 4,002,200 | $22.1M |
| bit capital gmbh | 3,491,234 | $19.3M |
| ark investment management llc | 3,301,050 | $18.3M |
| millennium management llc | 3,138,522 | $17.4M |
| gmt capital corp | 3,078,536 | $17.0M |
| two sigma investments, lp | 2,583,499 | $14.3M |
| dafna capital management llc | 2,418,882 | $13.4M |
Showing top 10 of 191 institutional holders of COMPASS Pathways plc. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 7.3%
- Days to cover
- 2.0
- Shares short
- 9,766,544
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CMPS short interestGovernance
Frequently asked questions
What is the AI investment thesis for COMPASS Pathways plc?
COMPASS Pathways plc (CMPS) is a late-stage clinical biotechnology company focused on accelerating patient access to evidence-based innovation in mental health, with its lead program being COMP360, a proprietary psilocybin formulation for treatment-resistant depression (TRD) [sec · filed 2026-04-15].
What is COMPASS Pathways plc's lead drug candidate?
COMPASS Pathways plc's most advanced tracked candidate is COMP360 (Phase 3) for PTSD - Post Traumatic Stress Disorder.
Who is the CEO of COMPASS Pathways plc?
Mr. Kabir Kumar Nath M.A., M.B.A. is the chief executive officer of COMPASS Pathways plc (CMPS).
Where is COMPASS Pathways plc headquartered?
COMPASS Pathways plc (CMPS) is headquartered in London, United Kingdom.
What therapeutic areas does COMPASS Pathways plc focus on?
COMPASS Pathways plc develops therapies across Neurology, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.