COMPASS Pathways Q3 net loss $33.4M; COMP360 Phase 3 on track; cash $248M

COMPASS Pathways plc

2023-Q3 EPS reported -$1.81

Net loss $33.4M ($0.67/share) for Q3 2023 vs $18.4M ($0.43) YoY; R&D expenses rose to $21.5M.
Cash and equivalents $248.0M at Sept 30, 2023; raised $125M upfront from private placement with up to $160M more if warrants exercised.
Phase 3 COMP005 top-line data expected summer 2024; COMP006 top-line expected mid-2025; Phase 2 PTSD data by end of 2023.
Full-year 2023 net cash burn guidance lowered to $79M-$85M; Q4 expected $9M-$15M.
Mike Falvey departed; Mary-Rose Hughes named interim CFO; search for permanent CFO underway.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

COMPASS Pathways plc reported nine months ended September 30, 2023 results: net income $85.9 million, or $1.81 loss per share, EPS $1.81 loss per share.

Period: nine months ended September 30, 2023
Net income: $85.9 million, or $1.81 loss per share
EPS: $1.81 loss per share
Result: reported results

Exact text from the filing

Net loss for the nine months ended September 30, 2023 was $85.9 million, or $1.81 loss per share (including non-cash share-based compensation expense of $13.1 million), compared with $60.6 million, or $1.43 loss per share, during the same period in 2022 (including non-cash-share-based compensation expense of $9.8 million).

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Source: SEC EDGAR

accession 0001628280-23-036181

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