Compass veers off course, delaying phase 3 psychedelic data and laying off 30% of staff
Compass will part ways with approximately 30% of its workforce, including some management positions… one year ago, the company expected to have data from the first phase 3 trial of its COMP360 psilocybin therapy in treatment-resistant depression by the summer of 2024.
Compass CEO Kabir Nath framed that delay in the context of the FDA’s rejection of Lykos Therapeutics’ MDMA therapy. Some of the reasons for the rejection were specific to Lykos, but Nath also noted “a high degree of scrutiny regarding unblinding, which is very relevant to our studies.” Compass is stopping all preclinical work unrelated to COMP360. The biotech is also “exploring a potential externalization” for its digital health tools… the biotech said its runway would last into 2026 when it provided its second-quarter update in August [2024]… Compass’ share price fell 16%…
Original Article (Biospace & Fierce Biotech):
Compass veers off course, delaying phase 3 psychedelic data and laying off 30% of staff & Compass delays pivotal trial readouts for psilocybin in depression, lays off 30% of staff
Artwork Fair Use: R. Henrik Nilsson
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