The Billion-Dollar Magic Mushroom Enterprise | COMPASS Pathways (CMPS)
COMPASS Pathways PLC (NASDAQ:CMPS) is a mental healthcare company focused on accelerating patient access to evidence-based medical innovation. That is a fancy way of saying the company is using magic mushrooms to treat what is largely untreatable; depression and specifically treatment-resistant depression (TRD).
There is an ongoing crisis in mental health, exasperated by the pandemic. New approaches to helping mental health issues are required because current medicines aren’t effective for enough people. Psilocybin, coupled with psychological support, has been proven to become a new tool that can actually help patients.
But, that requires evidence. COMPASS is undergoing the largest trials ever conducted in psychedelics in 10 different countries 22 sites.
If COMPASS successfully demonstrates its proprietary formulations can aid patients with depression in its ongoing Phase II and, eventually, Phase III clinical trials, the potential for the company huge. Results of its Phase IIB clinical trials are expected to be released at the end of FY 2021.
“Psilocybin was numerically superior on many dimensions on anxiety and depression, but also well being, a sense of flourishing, with a really different side effect profile. We are really focused on seeing what happens when we have the industrial-strength study that will out at the end of the year. But, a lot of promising signals” – COMPASS Pathways PLC CEO George Goldsmith
Watch the full interview to see why CEO George Goldsmith is so passionate about the psychedelic space, the need for new medical innovations, and its current COMP360 psilocybin clinical trials.
00:51 – Business of COMPASS Pathways
02:05 – Timeframe before psilocybin can be prescribed
03:12 – What drove shift in regulators approach to psychedelic drugs
05:30 – How COMPASS Pathways got involved with psychedelics
07:15 – Psilocybin results to treat depression
09:51 – Capital raises & expenses for further research
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