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Dec 31, 2023
COMPASS Q4 2023 Earnings Report
Reported financial results for the fourth quarter of 2023 and provided an update on recent progress across its business.
Key Takeaways
Compass Pathways reported a net loss of $32.5 million for the three months ended December 31, 2023, compared to a net loss of $30.9 million for the same period in 2022. Cash and cash equivalents were $220.2 million as of December 31, 2023.
COMP360 phase 3 pivotal program ongoing; COMP005 trial top-line data now expected in fourth quarter 2024, COMP006 remains on track for top-line data in mid-2025
Teri Loxam to assume Chief Financial Officer role on March 1, 2024
Cash position of $220.2 million at December 31, 2023, additional $31.4 million net cash raised to date in first quarter 2024
Net loss for the three months ended December 31, 2023, was $32.5 million
Forward Guidance
First quarter 2024 net cash used in operating activities is expected to be in the range of $17 million to $23 million. The full-year 2024 net cash used in operating activities is expected to be in the range of $110 million to $130 million. The cash position at December 31, 2023, together with the net cash raised to date in the first quarter, is expected to be sufficient to fund operating expenses and capital expenditure requirements into late 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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