COMPASS Pathways(CMPS)2024-10-31 10:30Clinical Trials and Data - Top-line data for the COMP005 trial in the COMP360 phase 3 program for treatment-resistant depression is now expected in Q2 2025[1] - The company will announce COMP006 data after the 26-week time point, expected in the second half of 2026[3] Financial Performance - The net loss for Q3 2024 was 0.56 loss per share, compared to a net loss of 0.67 loss per share in Q3 2023[5] - Comprehensive loss for Q3 2024 was 34,127 in Q3 2023, indicating a 8.9% increase in comprehensive losses[19] - Net loss for Q3 2024 was 33,389 in Q3 2023, reflecting a 6.3% increase in losses[19] - Net loss per share attributable to ordinary shareholders was 0.67 in Q3 2023[19] Research and Development Expenses - Research and development expenses for Q3 2024 were 21.5 million in Q3 2023, primarily due to late-stage trial advancements[5] - Research and development expenses rose to 21,526 in Q3 2023[19] - The benefit from R&D tax credit was 2,685 in Q3 2023, marking a 52.1% increase[19] Cash and Assets - Cash and cash equivalents stood at 220.2 million at the end of 2023[5] - The total assets decreased to 276.0 million at the end of 2023[17] - Full-year 2024 net cash used in operating activities is expected to be between 120 million[6] Workforce and Strategic Focus - A strategic reorganization will reduce the workforce by approximately 30% to focus on the COMP360 program[4] - The company is exploring potential externalization for its digital health tools as part of its strategic focus[4] Operating Expenses - Total operating expenses for Q3 2024 were 34,062 in Q3 2023[19] Other Income and Gains - The company reported a total other income of 735 in Q3 2023[19] - Interest income for Q3 2024 was 1,015 in Q3 2023, reflecting a 95.0% increase[19] - Foreign exchange gains for Q3 2024 were 1,997 in Q3 2023[19] Shareholder Information - The weighted average ordinary shares outstanding increased to 68,395,343 in Q3 2024 from 49,633,104 in Q3 2023[19]