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Jun 30, 2023
COMPASS Q2 2023 Earnings Report
Reported financial results for the second quarter 2023 and provided a business update.
Key Takeaways
COMPASS Pathways reported a net loss of $28.3 million for the second quarter of 2023, with cash and cash equivalents totaling $148.2 million as of June 30, 2023. The company's COMP360 phase 3 trials are ongoing and on track, and they secured a term loan facility of up to $50 million.
COMP360 Phase 3 pivotal program ongoing and on track.
CPT® III code for in-person psychedelic therapy support accepted by the American Medical Association.
Cash position at June 30, 2023 of $148.2 million.
Term loan facility up to $50 million secured.
Forward Guidance
Third quarter 2023 net cash (provided by)/used in operating activities is expected to be in the range of ($2 million) to $18 million. We expect the full-year 2023 net cash used in operating activities to be in the range of $80 million to $90 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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