British Phase 2 psilocybin biotech COMPASS Pathways files for a $100 million IPO

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.

The article British Phase 2 psilocybin biotech COMPASS Pathways files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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