Compass Pathways Raises Price Targets to $21, Secures FDA IND, Prices $150M Offering
LifeSci Capital initiated coverage with a Buy rating and $15 target, while RBC Capital lifted its target to $21 after model updates at the Psychedelics Symposium. Compass secured FDA IND approval for COMP360 PTSD trials and priced a $150 million public offering to fund its late-stage programs.
1. Analyst Ratings and Target Revisions
LifeSci Capital initiated coverage on Compass Pathways with a Buy rating and $15 price target, while RBC Capital raised its target from $16 to $21 and maintained an Outperform rating following recent model updates at the Psychedelics Symposium.
2. FDA IND Approval and Clinical Timeline
Compass Pathways secured FDA IND approval for COMP360 in PTSD, clearing the way for a Phase 2b/3 trial and marking its first expansion beyond treatment-resistant depression, with partnerships and hiring underway to support a potential 2027 launch.
3. Public Offering and Financial Impact
Compass priced a $150 million public offering to bolster its balance sheet, with management noting that operational cash burn remains in line with forecasts despite a GAAP net loss of $137.7 million largely due to warrant accounting treatment.