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Mar 31, 2023
COMPASS Q1 2023 Earnings Report
Reported financial results for the first quarter of 2023 and provided a business update.
Key Takeaways
COMPASS Pathways reported a net loss of $24.2 million for the first quarter of 2023. The Phase 3 pivotal program for COMP360 is underway, and a CPT III code for in-person psychedelic therapy support has been accepted by the American Medical Association. The company's cash position as of March 31, 2023, was $117.1 million, with an additional $26.9 million raised through an ATM facility to date in the second quarter.
COMP360 Phase 3 pivotal program is underway with patients being treated in both trials.
CPT® III code for in-person psychedelic therapy support accepted by the American Medical Association.
Cash position at 31 March 2023 of $117.1 million, with an additional $26.9 million net cash raised through ATM facility to date in the second quarter.
Phase 3 program continuing in accordance with previously announced study design after FDA feedback received on the COMP 005 and COMP 006 trials.
Forward Guidance
Second quarter 2023 net cash used in operating activities is expected to be in the range of $22 million to $30 million and the full-year 2023 to be in the range of $85 million to $110 million.
Historical Earnings Impact
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