Compass Pathways Q3 net loss narrows on lower R&D charges
CMPS•Compass Pathways reported a third-quarter net loss of $9.83 million, with loss per share of $0.31. Operating income was $56.44 million negative, missing analyst expectations, and the company ended the quarter with $444 million in cash, which it expects to fund operations into 2028.
1. Quarterly results and outlook
Compass Pathways said lower clinical-trial and discovery-program expenses reduced research and development costs. The company attributed its narrower net loss mainly to non-cash fair value adjustments related to warrants. Higher selling, general and administrative expenses reflected investments in launch readiness for COMP360. Compass expects to launch COMP360 in the first half of 2027, pending FDA approval, and said the drug may receive accelerated FDA review that could shorten review to one to two months.
