COMPASS Pathways(US:CMPS)2025-11-04 11:30Financial Performance - The net loss for Q3 2025 was $137.7 million, or $1.44 per share, compared to a net loss of $38.5 million, or $0.56 per share, in Q3 2024 [12]. - Net loss for Q3 2025 was $137,717,000, compared to a net loss of $38,502,000 in Q3 2024, indicating a significant increase in losses [20]. - Loss before income taxes for Q3 2025 was $137,947,000, compared to $38,329,000 in Q3 2024, representing a substantial increase in operational losses [20]. - Comprehensive loss for Q3 2025 was $138,322,000, compared to a comprehensive loss of $38,163,000 in Q3 2024 [20]. - Total other income, net for Q3 2025 was a loss of $97,411,000, contrasting with a gain of $9,567,000 in Q3 2024 [20]. - Net loss per share attributable to ordinary shareholders for Q3 2025 was $1.44, compared to $0.56 in Q3 2024 [20]. Cash Position and Assets - The cash position as of September 30, 2025, was $185.9 million, an increase from $165.1 million as of December 31, 2024 [12]. - Full year 2025 net cash used in operating activities is expected to be between $120 million and $145 million, with sufficient cash to fund operations into 2027 [9]. - The total assets as of September 30, 2025, were $255.6 million, compared to $213.7 million as of December 31, 2024 [18]. - The accumulated deficit increased to $728.7 million as of September 30, 2025, from $534.7 million at the end of 2024 [18]. Research and Development - Research and development expenses for Q3 2025 were $27.3 million, down from $32.9 million in Q3 2024, primarily due to decreased development expenses related to the termination of discovery programs [8]. - Research and development expenses decreased to $27,325,000 in Q3 2025 from $32,928,000 in Q3 2024, reflecting a reduction of 17% [20]. - Benefit from R&D tax credit for Q3 2025 was $3,924,000, slightly down from $4,084,000 in Q3 2024 [20]. - The second Phase 3 trial, COMP006, has completed enrollment with 585 participants, and data from this trial is expected in Q1 2026 [6]. - Compass Pathways accelerated its commercial launch plans for COMP360 in Treatment Resistant Depression (TRD) by 9-12 months following the completion of the COMP006 trial enrollment and positive discussions with the FDA [3][5]. - The company plans to disclose 9-week data from COMP006 and 26-week data from COMP005 in Q1 2026 [5][6]. Operating Expenses - General and administrative expenses for Q3 2025 were $13.2 million, down from $15.0 million in Q3 2024, due to decreased personnel and non-cash share-based compensation expenses [8]. - Total operating expenses for Q3 2025 were $40,536,000, a decrease of 15.4% from $47,896,000 in Q3 2024 [20]. - Interest income for Q3 2025 was $1,588,000, a decrease from $1,977,000 in Q3 2024 [20]. - Weighted average ordinary shares outstanding for Q3 2025 were 95,337,993, an increase from 68,395,343 in Q3 2024 [20].