COMPASS Pathways, a British Phase 2 biotech developing a psilocybin-based therapy for depression, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The company is focusing on using its proprietary formulation of psilocybin, COMP360, in conjunction with psychological support as a way to help individuals who have treatment-resistant depression, or TRD, a subset of major depressive disorder, or MDD. COMPASS is currently evaluating COMP360 in conjunction with psychological support in a Phase 2b trial and plans to report data from this trial in late 2021.
The Cheshire, United Kingdom-based company was founded in 2015 and plans to list on the Nasdaq under the symbol CMPS. COMPASS Pathways filed confidentially on July 2, 2020. Cowen, Evercore ISI and Berenberg are the joint bookrunners on the deal. No pricing terms were disclosed.
