Compass Pathways plc (NASDAQ: CMPS) has announced the pricing of its public offering of 17,500,000 American Depositary Shares ("ADSs") at a public offering price of $8.00 per ADS. Additionally, certain institutional investors will have the option to purchase up to 1,250,000 pre-funded warrants to buy ADSs at a public offering price of $7.9999 per pre-funded warrant. The underwriters have been granted a 30-day option to purchase up to an additional 2,812,500 ADSs at the public offering price.
The gross proceeds to Compass Pathways from this offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be $150.0 million. The company plans to use the net proceeds from this offering, together with its existing cash and cash equivalents, to fund ongoing comp005 and comp006 phase 3 trials, its phase 2b/3 trial of comp360 in PTSD, acceleration of its commercial readiness activities, and for working capital and general corporate purposes.
Jefferies, TD Cowen, Cantor, and Stifel are acting as joint book-runners for the offering, with H.C. Wainwright & Co. serving as the lead manager for the offering. Lifesci Capital is acting as Compass Pathways' financial advisor.
The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-285297) that was previously filed with the Securities and Exchange Commission (SEC) and became effective on May 7, 2025. It is expected to close on or about February 20, 2026, subject to the satisfaction of customary closing conditions.
Compass Pathways is a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. The company is pioneering a new paradigm for treating mental health conditions focused on rapid and durable responses through the development of its investigational comp360 synthetic psilocybin treatment, which has received breakthrough therapy designation from the U.S. Food and Drug Administration (FDA) and innovative licensing and access pathway (ILAP) designation in the UK for treatment-resistant depression (TRD).
As of the most recent period, Compass Pathways' financial advisor is Lifesci Capital, and the company has granted underwriters a 30-day option to purchase up to an additional 2,812,500 ADSs. The gross proceeds from the offering are expected to be $150.0 million, with the company intending to use the net proceeds for various purposes including funding ongoing trials and commercial readiness activities. As a result of these announcements, the company's shares have moved 0.55% on the market, and are now trading at a price of $7.35. If you want to know more, read the company's complete 8-K report here.
