For our weed stocks audience, you may compare COMPASS Pathways PLC (NASDAQ:CMPS) to the Canopy Growth Corp (NASDAQ:CGC, TSE:WEED) of the first cannabis bull run. The bellwether of their industry. COMPASS Pathways has developed a proprietary formulation of Psilocybin (the hallucinogenic magic mushroom) and is leading and advancing the psychedelics field with its research. So when you look at their financial statements, don’t be shocked that the company has a net loss. This clinical-stage company is spending most of its capital on the research that will eventually translate into drugs hitting the market. Psychedelics is still in its infancy, but COMPASS Pathways may well be one of the best shroom boom stocks to sit and wait on to grow your nest egg.
“All eyes, as they should be, are on the end of our phase IIb trial. At the end of the year when we will be reporting out.” – COMPASS Pathways CEO George Goldsmith
This is in reference to the world’s largest psilocybin therapy trial – taking place in 22 sites across 10 countries. The study is unique as patients are undergoing treatment under the care of at least 1 trained professional therapist. The proprietary COMP360 psilocybin therapy has now been given to 233 patients, exceeding the initial 216 target.
Depression and associated disorders are challenging to remedy, and regulators don’t make it easy for companies to secure approval for their drugs to treat them. But, if you believe the next leg of being able to help patients with a variety of mental disorders is through psychedelic compounds, the investor upside could be substantial – especially when looking at COMPASS Pathways’ best-in-class treatments.
To protect this lead, COMPASS Pathways has successfully been granted eight patents. The company also has numerous patent applications under review, including three Patent Cooperation Treaty (PCT) applications.
Watch the full interview to learn more about COMPASS Pathways psychedelics research, its clinical trials target outcomes, and investor milestones to look out for.
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