COMPASS PATHWAYS, based out of Europe, is going public today today at a $544 million US valuation for its psilocybin-based treatment centres (we first wrote about Compass here in March). Trading will be under the symbol CMPS.
The firm is currently in Phase 2b trials with 216 patients to test its treatment method of administering psilocybin for treatment of depression.
Early results of psilocybin testing have earned the compound breakthrough status in October of 2019 by the FDA, in part due to Compass Pathways’ work.
The current trial is testing the efficacy of COMP360 combined with psychological support from a therapist for a guided trip experience, and aims to determine the optimal dose of COMP360. The final results of this trial looks to be set for late 2021.
Given the appetite for yesterday’s Snowflake IPO, Compass may be entering the market at the right time. Will be interesting to watch this stock today.
Video Introduction of Dr. Stephen D. Barnhill of AION
Following up on our report from September 10th, Aion Therapeutics (CSE:AION) just released a video explaining their robust patent portfolio plans. Dr. Barnhill has a wealth of knowledge on intellectual property, enjoy the video:
One last comment, AION is worth $8.5 million CAD at today’s valuation, and considering their ability to build a patent portfolio, leaders like COMPASS will likely want to defend their large valuations with acquisitions in the future. Keep that in mind when placing your bets.
Disclosure: Writers of this report are long AION shares