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COMPASS Pathways plc (NASDAQ:CMPS ) Q1 2023 Earnings Conference Call May 11, 2023 8:00 AM ET Company Participants Steve Schultz - Senior Vice President of Investor Relations Kabir Nath - Chief Executive Officer Guy Goodwin - Chief Medical Officer Mike Falvey - Chief Financial Officer Conference Call Participants Elemer Piros - EF Hutton Charles Duncan - Cantor Fitzgerald Frank Brisebois - Oppenheimer & Co. Inc. Joshua Schimmer - Evercore ISI Patrick Trucchio - H.C. Wainwright & Co. Ritu Baral - Cowen and Company Neena Bitritto-Garg - Citi Sumant Kulkarni - Canaccord Genuity Operator Good day and thank you for standing by.
COMPASS Pathways, a mental health care company focused on advancing its COMP360 psilocybin therapy for treatment-resistant depression (TRD), posted an earnings beat for the first quarter which sent its shares higher. For the quarter ended in March, the company reported a loss of $24.2 million or a loss per share of $0.57, compared to a loss of $21.2 million or a loss per share of $0.50 in the comparable quarter in 2022.
Psychedelic therapies will soon be representable in medical procedure coding. That coding is a prerequisite for insurance plans to reimburse the therapies.
Imran Khan is Executive Director of the Berkeley Center for the Science of Psychedelics. Research behind psychedelics - way more that we don't know than we do.
Analysts at Canaccord Genuity (TSX:CF, LSE:CF) have reiterated their ‘Buy' rating and US$60 price target for COMPASS Pathways after the mental health care company adjusted the trial design for its COMP360 phase 3 program investigating psilocybin for treatment-resistant depression (TRD). “We are not making any major changes to our model post-4Q22 results,” the analysts wrote in a note to clients.
Biotech stocks are risky, but high-potential plays can pay off big. Compass Pathways is making progress towards commercializing its first therapy.
LONDON, March 02, 2023 (GLOBE NEWSWIRE) -- COMPASS Pathways plc (Nasdaq: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will participate in three upcoming events as follows:
Conference call to be held at 8:00am ET (1:00pm UK) Conference call to be held at 8:00am ET (1:00pm UK)
These stocks are risky. But they just might deliver huge gains if analysts are right.
Psychedelic stocks have seen remarkable progress in recent years, evolving from a fad to mainstream medicine. Several pharmaceutical companies are now investigating their potential therapeutic value.