“Compass Pathways (CMPS) jumped in its first day of trading on Friday, making it the first psychedelic drug company to go public on a big U.S. exchange. Shares surged 70.6% to close at $29 in the stock market today, lifting the market cap to about $1 billion. The debut comes a day after Compass Pathways announced an upsized pricing for its IPO.

The FDA in 2018 gave breakthrough status to Compass’ therapy regimen, called COMP360. Compass plans to use COMP360, a crystalline form of psilocybin, in conjunction with therapy for treatment-resistant depression.” — IBD

Full disclosure: ATAI is the largest shareholder in Compass (29%), and Future Ventures is an investor in ATAI.

Go 🍄 go!

4 responses to “CONGRATULATIONS to Compass Pathways on their successful IPO today!”

  1. gsikich1 Avatar
    gsikich1

    Interesting news

    Reply
  2. John Tavares Jr Avatar
    John Tavares Jr

    Fascinating development in the business world, as science and pharmacology continues to make progress. I’d think this flow of capital sends a strong message to the public and politicians.

    Reply
  3. jurvetson Avatar
    jurvetson

    Yes… for example, this just in from Shark Tank’s Kevin O’Leary: "As an investor, my approach is quite simple. I always look for solutions and trends with the potential to solve vast problems for large amounts of people. Treating mental health and substance use disorders more effectively may be the largest problem ever. Over a billion people worldwide are suffering from depression, substance abuse, anxiety, or PTSD. Canaccord values the market for psychedelic inspired treatments at up to $100 billion. This tells me that psychedelic medicine might just be a whole new asset class. I think these companies (Compass Pathways, MindMed, and ATAI) are onto something extraordinary, and the impact on society and the millions suffering globally from mental illness and addiction could be profound.

    Our grandchildren will look back on this moment and ask why a substance that had the potential to solve such large problems in society was ever banned in the first place.

    The inventor of LSD, Albert Hoffmann, said before his death that he hoped his "problem child could become a wonderchild." In 2020, the psychedelic medicine industry matured; the next few years will tell whether it can continue to mushroom into a wonderchild."

    Reply
  4. jurvetson Avatar
    jurvetson

    And a new study released today: 50% remission of depression after one group therapy treatment, sustained at 8-week follow up:

    Reply

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