Compass Pathways Plc Q2 FY2024 earnings call

New Leaders: Added Lori Englebert as Chief Commercial Officer and Gino Santini as Chairman of the Board. ### Clinical Trials: Making progress on COMP360 Phase 3 trials; 005 readout expected in Q4 2024 but possibly pushing into January, 006 expected mid-2025. Differences in 005 and 006 trial designs; 006 designed to minimize unblinding with active arms and capped recruitment of prior psychedelic users. Collecting safety data including from altered states of consciousness questionnaire. ### Financial: Q2 cash used in operations $34.4M within guidance; Q3 guidance $32M-$38M net cash used in operations; full-year guidance $110M-$130M assuming 2023 R&D tax credit; cash and cash equivalents $228.6M as of 6/30/2024; cash runway to fund operations into 2026.

No specific product segment financial performance data provided in the transcript.

Q3 2024: Net cash used in operations expected between $32M and $38M. ### Full-Year 2024: Cash used in operations expected between $110M and $130M, assuming 2023 R&D tax credit. ### Cash Runway: Expected to fund operations into 2026.

No specific risks detailed in the transcript beyond general risk factors mentioned in the opening related to forward-looking statements and SEC filings.

Q: Ritu Baral asks about DSMB looks, suicidality rate in 005.

A: Guy Goodwin responds that they recently had a DSMB meeting with no changes to trial procedures, and ongoing trial conduct.

Q: Leonid Timashev asks about site performance, suicidality in KOLs.

A: Kabir Nath and Guy Goodwin respond on site retention, suicidality in depressed patients being a core symptom.

Q: Charles Duncan asks about 005 enrollment announcement, AdCom surprises.

A: Kabir Nath says they haven't determined if they'll announce 005 enrollment, and Guy Goodwin states no surprises in AdCom content.

Q: Vikram Purohit asks about longer-term follow-up data, pipeline for PTSD and bipolar.

A: Kabir Nath and Guy Goodwin respond on data release plans, focusing on PTSD and bipolar pipeline.

Q: Gavin Clark-Gartner asks about retreatment rates, rescue therapy use.

A: Guy Goodwin responds on retreatment rate tracking, rescue therapy tracking.

Q: Dan (François Brisebois) asks about FDA commentary on psychotherapy in trials.

A: Guy Goodwin responds on FDA perspective on psychotherapy in trials.

Q: Sumant Kulkarni asks about durability of treatment effect, suicidal ideation in recreational users.

A: Guy Goodwin and Kabir Nath respond on durability monitoring, suicidal ideation in recreational users showing reduced distress.

Q: Tom Shrader asks about unblinding expectations, PTSD data safety.

A: Guy Goodwin responds on unblinding expectations, PTSD data being too early with small sample size.

Q: Elemer Piros asks about number of sites, MDD trial readout.

A: Kabir Nath responds on site numbers and MDD trial readout unlikely before 005.