Compass Pathways delays COMP360 phase 3 data to Q2 2025; workforce reduction of 30%

COMPASS Pathways plc

2024-Q3 EPS reported -$1.67

COMP005 phase 3 top-line data in TRD now expected Q2 2025; COMP006 data shifted to H2 2026 after unblinding risk.
Workforce reduction of ~30% including senior management roles; non-COMP360 preclinical halted; digital health tools explored for externalization.
Net loss Q3 2024 $38.5M ($0.56 loss per share) vs $33.4M loss ($0.67 loss per share) in Q3 2023.
Cash and equivalents $207M as of Sept 30, 2024; projected to fund operations at least into 2026.
R&D expenses rose to $32.9M in Q3 2024 from $21.5M in Q3 2023, driven by phase 3 clinical costs.

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