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Mar 31, 2024
COMPASS Q1 2024 Earnings Report
Reported financial results for the first quarter and provided an update on recent business progress.
Key Takeaways
Compass Pathways reported a net loss of $35.2 million, or $0.55 loss per share, for the three months ended March 31, 2024. The company's cash and cash equivalents were $262.9 million as of March 31, 2024.
COMP360 phase 3 pivotal program in treatment-resistant depression (TRD) on track for top-line COMP005 trial data in fourth quarter 2024, COMP006 trial top-line data expected mid-2025
Compass announces positive phase 2 COMP360 data in post-traumatic stress disorder (PTSD)
Michael Gold to join Compass as Head of R&D
Compass enters into additional commercial collaborations, including with Reliant Medical Group, part of Optum Care
Forward Guidance
Second quarter 2024 net cash used in operating activities is expected to be in the range of $32 million to $38 million. The full-year 2024 net cash used in operating activities is expected to be in the range of $110 million to $130 million and assumes the 2023 R&D tax credit is received in 4Q 2024. The cash position at March 31, 2024, is expected to be sufficient to fund operating expenses and capital expenditure requirements into 2026.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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