COMPASS Pathways (CMPS)

COMPASS Pathways Company information 

COMPASS Pathways is a mental healthcare company founded on 13th June 2016. They aim to provide quicker and more efficient solutions in the mental health sector. The brand seeks to improve the lives of patients who cannot find treatment for their mental illnesses. They do this by providing access to evidence-supported technological innovations.

The company is currently working on a new model of psilocybin therapy using their own synthetic formulation dubbed COMP360. The psilocybin therapy is conducted in conjunction with psychological support from trained medical professionals. 

The Food and Drug Administration has classified COMP360 as a breakthrough therapy in treating and managing mental conditions, especially treatment-resistant depression. 

How does the therapy work?

The whole psilocybin therapy process involves three steps;

Preparation: the patient and therapist get a chance to know each other and form familiarity and trust. This is essential in making the patient more comfortable.

Psilocybin therapy session: the patient lies down and takes a capsule of psilocybin. Their eyes are closed using an eye mask. The patient will listen to focus and concentration-boosting music for 6-8 hours until the psychedelic wear-off effects throughout the session. A therapist and an assistant are present throughout the session. 

Integration: the therapist conducts a one on one session with the patient after the psilocybin treatment. They discuss the experience to make the patient figure out the behavioral and emotional patterns in the depressive loop. With this knowledge, they can actively work on enforcing change gradually. 

Compass pathways is currently conducting a phase IIb clinical trial of this psilocybin-assisted psychotherapy to treat treatment-resistant depression. The trials are conducted in 22 different sites across North America and Europe. 

COMPASS Pathways’ Mission

The brand’s mission is to bridge the gap between what is currently provided in terms of medication and therapies with what patients need for better mental health. 

COMPASS pathways’ team is dedicated to discovering and developing functional and helpful therapies that ultimately bring relief to the patients and their friends & family. 

By changing people’s perception of mental health, new and better treatments will be easily accepted, easing the overstretched healthcare system’s burden. 

Financial News

COMPASS Pathways is preparing to announce its full-year financial results, including the fourth quarter on 9th March 2021. The report will be covering the financial year that ended on 31st December 2020. The company will also report on its business plans and any recent business developments.