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Sep 30, 2023
COMPASS Q3 2023 Earnings Report
COMPASS Pathways reported financial results for the third quarter of 2023 and provided a business update.
Key Takeaways
COMPASS Pathways announced its Q3 2023 financial results, highlighting the ongoing Phase 3 program for COMP360, a strong cash position of $248.0 million, and a recent private placement financing of up to $285 million. The company's net loss for the quarter was $33.4 million, or $0.67 loss per share.
COMP360 Phase 3 pivotal program ongoing with expanding European clinical sites
Secured up to $285 million private placement financing with $125 million upfront
Cash position at September 30, 2023 of $248.0 million
Both phase 3 trials, COMP005 and COMP006, are on track, and we expect to have initial top-line data in less than a year for COMP005.
Forward Guidance
Fourth quarter 2023 net cash used in operating activities is expected to be in the range of $9 million to $15 million. Full-year 2023 cash burn guidance downward and expect net cash used in operating activities to be in the range of $79 million to $85 million
Historical Earnings Impact
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