COMPASS Pathways plc (CMPS) is planning to raise $100 million in an initial public offering (IPO) on Friday, September 18th, IPO Scoop reports. The company will issue 6,700,000 shares at a price of $14.00-$16.00 per share.
COMPASS Pathways plc has a market-cap of $510 million.
Cowen, Evercore ISI and Berenberg served as the underwriters for the IPO and Canaccord Genuity was co-manager.
COMPASS Pathways plc provided the following description of their company for its IPO: ” We are a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. We are motivated by the need to find better ways to help and empower people suffering with mental health challenges who are not helped by existing therapies, and are pioneering the development of a new model of psilocybin therapy, in which psilocybin is administered in conjunction with psychological support. Our initial focus is on treatment-resistant depression, or TRD, a subset of major depressive disorder, or MDD, comprising patients who are inadequately served by the current treatment paradigm. Early signals from academic studies, using formulations of psilocybin not developed by us, have shown that psilocybin therapy may have the potential to improve outcomes for patients suffering with TRD, with rapid reductions in depression symptoms and effects lasting up to six months, after administration of a single high dose. We have developed a proprietary, high-purity polymorphic crystalline formulation of psilocybin, COMP360. In 2019, we completed a Phase I clinical trial administering COMP360, along with psychological support, to 89 healthy volunteers, the largest randomized, controlled trial with psilocybin therapy to date. In this trial, we observed that COMP360 was generally well-tolerated and supported continued progression of Phase IIb studies. “.
COMPASS Pathways plc was founded in 2012 and has 48 employees. The company is located at 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT, United Kingdom and can be reached via phone at +1 (646) 905-3974. or on the web at http://www.compasspathways.com.
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