COMPASS Pathways

What COMPASS Pathways does

COMPASS Pathways is a clinical-stage biotechnology company founded in 2015 and headquartered in the United Kingdom (Altrincham) with US operations in New York and Baltimore. The company develops COMP360, a proprietary pharmaceutical-grade synthetic psilocybin formulation administered with psychological support in clinical settings, targeting treatment-resistant depression (Phase 3), post-traumatic stress disorder (Phase 2b/3), and anorexia nervosa (Phase 2). The treatment protocol involves a 6-8 hour supervised dosing session, supported by the myPathfinder digital application (Android/iOS) that delivers educational content and collects anonymized behavioral data from participants. COMP360 has received FDA Breakthrough Therapy designation, FDA rolling NDA review, the Commissioner's National Priority Voucher, and UK MHRA Innovative Licensing and Access Pathway designation, with NDA submission targeted for Q4 2026 and potential approval in 2027.

The business model is pharmaceutical product sales: Compass is pre-revenue today but, upon regulatory approval, will sell COMP360 to certified healthcare facilities (hospitals, psychiatric clinics, interventional psychiatry practices) for in-clinic administration. Distribution readiness is being built via partnerships with Osmind (1,000+ interventional psychiatry practices), Journey Clinical (active in 30 states), Sheppard Pratt (Baltimore Centre of Excellence), and South London and Maudsley NHS Foundation Trust / King's College London (Centre for Mental Health Research and Innovation at Maudsley Hospital, opened November 2023). Customer segments are psychiatrists, psychiatric hospitals, mental health clinics, and interventional psychiatry practices; the end market is patients with treatment-resistant depression (approximately 4 million Americans) and PTSD (approximately 13 million Americans), with analysts projecting peak US TRD sales exceeding $1 billion.

Compass is publicly listed on NASDAQ (ticker: CMPS) and organized as a UK public limited company (Compass Pathways plc) with a US subsidiary (Compass Pathways Inc.). It has raised over $1 billion in cumulative funding, including a $285 million private placement in August 2023 (led by TCGX and Aisling Capital) and approximately $350 million in February 2026 (a $150 million public ADS offering plus $200 million from warrant exercises), supplemented by up to $50 million in non-dilutive debt from Hercules Capital. As of March 31, 2026, the company held $466 million in cash, sufficient to fund operations into 2028. The company has reported net losses of $287.9 million in FY2025 and $91.2 million in Q1 2026, with no product revenue to date. Leadership is anchored by CEO Kabir Nath (formerly of Otsuka and Bristol-Myers Squibb) and a board with deep biopharmaceutical experience spanning Johnson & Johnson, Eli Lilly, Sanofi, AbbVie, Sage Therapeutics, and GW Pharmaceuticals.

Name

COMPASS Pathways

Legal name

Compass Pathways plc

Website

https://compasspathways.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

COMPASS Pathways is a UK-headquartered, NASDAQ-listed clinical-stage biotechnology company developing COMP360, a proprietary synthetic psilocybin therapy administered with psychological support for treatment-resistant depression (Phase 3), PTSD, and anorexia nervosa, targeting FDA approval in 2027 with pre-launch distribution built through Osmind and other clinic networks.

Ownership category

akta.pro rank

Product category

Neuropsychiatric Pharmaceuticals

NAICS

Scientific Research and Development Services (5417)

SIC

Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Behavioral Health & Substance Use Remote Monitoring (HLACAFAD)

akta.pro secondary industry

Medication Adherence, Digital Therapeutics & Remote Coaching (condition-specific programs) (HLALAFAF)

Keywords

• Psychedelic therapy
• Psilocybin treatment
• Treatment-resistant depression
• Mental health biotechnology
• Novel neuropsychiatric drugs

Headquarters

HQ city

Altrincham

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Pharmaceutical Product Sales: Pre-revenue company. Upon FDA approval, revenue will be generated from sale of COMP360 psilocybin treatment to healthcare providers and clinics for administration to patients with treatment-resistant depression. The company has received FDA Breakthrough Therapy designation and rolling NDA review, with potential approval in 2027.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

COMPASS Pathways is developing COMP360, a proprietary synthetic psilocybin formulation administered with psychological support in clinical settings as an investigational treatment for serious mental health conditions. The lead indication is treatment-resistant depression (Phase 3), with additional programs in post-traumatic stress disorder (Phase 2) and anorexia nervosa (Phase 2). The treatment consists of a 6-8 hour supervised dosing session paired with the myPathfinder digital app supporting the patient journey.

Product overview

COMPASS Pathways is a biotechnology company developing a single proprietary investigational product — COMP360, a synthetic psilocybin formulation — administered with psychological support for the treatment of serious mental health conditions. The company's clinical development programme spans three indications: COMP360 psilocybin is currently in Phase 3 for treatment-resistant depression (TRD), Phase 2 for post-traumatic stress disorder (PTSD), and Phase 2 for anorexia nervosa. The company also offers a digital health tool called myPathfinder (an app available on Android and iOS and a companion platform) designed to support clinical trial participants through the therapy journey by providing educational content and collecting behavioral data for research purposes.

Differentiator

Problem solved

Functional benefit

Brands

• COMP360: Proprietary synthetic psilocybin formulation being developed for treatment-resistant depression, PTSD, and anorexia nervosa
• myPathfinder

Products and services

• COMP360 Psilocybin Treatment

Quantifiable outcome

• 39% of patients achieved clinically meaningful reduction at Week 6 in Phase 2b trial
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

18 partnerships are on record, tiered core and minor.

• OsmindcoreStrategic or Co-development Partner · 21 April 2026Collaboration to help small-to-medium sized independent clinics prepare for potential future delivery of psychedelic treatments. Osmind operates a network of over 1,000 interventional psychiatry practices, representing one of the largest networks in the US.
• Journey ClinicalminorStrategic or Co-development Partner · 1 January 2024Research collaboration to support scalable delivery of COMP360 psilocybin treatment for treatment-resistant depression. Journey Clinical is the largest psychedelic-assisted psychotherapy platform in the US with over 1 million hours delivered and network active in 30 states.
• Association for Behavioral Health and Wellness (ABHW)minorGTM or Marketing PartnerABHW is the national voice for payers managing behavioral health insurance benefits. Compass is a Silver Corporate Partner, working together to advocate for improved access and quality care in behavioral health.
• AHIPminorGTM or Marketing PartnerAmerican Health Insurance Plans is a US national association whose members provide health care coverage to hundreds of millions of Americans. Partnership focused on affordability aspects of accelerating patient access to innovation in mental health.
• American Psychiatric Association FoundationminorGTM or Marketing PartnerAPA Foundation aims to address critical mental health needs through community-based programs. Compass is on the Corporate Alliance, uniting stakeholders around advancing mental health in communities.
• Depression and Bipolar Support Alliance (DBSA)minorGTM or Marketing PartnerLeading organization focusing on mood disorders including depression and bipolar disorder in the United States. Compass supports DBSA's work in learning more about the experiences of people living with depression.
• NAMI (National Alliance on Mental Illness)minorGTM or Marketing PartnerNation's largest grassroots mental health organization dedicated to improving lives of individuals affected by mental illness. Compass is a corporate sponsor.
• National Council for Mental WellbeingminorStrategic or Co-development PartnerUnifying voice of America's health care organizations delivering mental health and addictions treatment. Partnership to ensure evidence-based innovation offered safely with appropriate supportive care.
• Mental Health AmericaminorGTM or Marketing PartnerLeading national nonprofit dedicated to promotion of mental health, well-being, and illness prevention. Partnership to advance mental health equity and awareness.
• The GetReal InstituteminorStrategic or Co-development PartnerBrings together stakeholders to drive development and adoption of tools for real-world evidence generation. Compass is a founding member with team members on steering committees.
• The Psychiatry ConsortiumminorStrategic or Co-development PartnerStrategic collaboration of medical research charities and pharmaceutical companies focusing on novel drug targets for mental health conditions. Compass joined as a consortium member in November 2020.
• Sustainable Medicines PartnershipminorStrategic or Co-development PartnerNot-for-profit, private-public multi-stakeholder global collaboration. Compass is a founding collaborator working to reduce medicine waste and increase health equity globally.
• South London and Maudsley NHS Foundation TrustcoreStrategic or Co-development PartnerLong-term strategic partnership formed in 2022 with the largest mental health trust in the UK NHS and King's College London. Centre for Mental Health Research and Innovation opened November 2023 at Maudsley Hospital for clinical trials, therapist training, and research.
• Sheppard PrattcoreStrategic or Co-development PartnerCentre of Excellence in Baltimore launched January 2021, modeling the clinic of the future. Research facility and innovation lab generating evidence for therapy models, training therapists, conducting clinical trials, and prototyping digital solutions.
• Institute of Psychiatry, Psychology & Neuroscience at King's College LondoncoreStrategic or Co-development PartnerPartnership for Centre of Excellence and healthy volunteers study. Phase 1 study with 89 healthy volunteers demonstrated feasibility of administering COMP360 psilocybin to up to six participants simultaneously.
• The Aquilino Cancer CenterminorStrategic or Co-development PartnerSpecialist cancer center at Adventist Healthcare Shady Grove Medical Center in Maryland. Compass provided support for investigator-initiated study using COMP360 psilocybin therapy in cancer patients with depression.
• One MindminorGTM or Marketing PartnerLeading mental health non-profit accelerating collaborative research and advocacy. Compass sponsoring three Rising Star Awards to support cutting-edge neuropsychiatric illness research.
• British Neuroscience Association (BNA)minorGTM or Marketing PartnerLargest UK organization representing neuroscience. Compass is a Founding Supporter of BNA's Scholars programme supporting students from under-represented ethnic groups.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Johnson & Johnson (Spravato): Markets Spravato (esketamine), the only FDA-approved psychedelic-adjacent therapy for treatment-resistant depression. J&J is the most direct competitor to Compass in the TRD space and Compass is explicitly planning to leverage existing Spravato clinic networks for COMP360 distribution.
• Atai Life Sciences: Clinical-stage psychedelic medicine company developing psilocybin and other psychedelic therapies for mental health conditions including depression. Competes directly with Compass in the psychedelic TRD space and is one of the most comparable pure-play psychedelic biotech peers.
• Mind Medicine (MindMed): Clinical-stage psychedelic medicine biotech developing LSD-based therapies (MM-120) for anxiety and MDD. Directly comparable to Compass as a public, clinical-stage psychedelic developer targeting the same mental health treatment market.
• GH Research: Clinical-stage biotech developing mebufotenin (5-MeO-DMT) therapies for treatment-resistant depression. Competes with Compass for the TRD market with a different psychedelic compound, making it a direct comparator in psychedelic drug development.
• Cybin: Clinical-stage psychedelic company developing deuterated psilocybin analog (CYB003) for major depressive disorder. Competes directly with Compass in psilocybin-based depression treatment development with Phase 2/3 programs.

Emerging players

• Axsome Therapeutics: Commercial-stage CNS company with Auvelity, an FDA-approved oral treatment for major depressive disorder. Represents a competing therapeutic option for TRD patients and a commercial benchmark — Compass's CCO previously led commercial strategy at Axsome.
• Sage Therapeutics: CNS-focused biotech with Zurzuvae (zuranolone) approved for postpartum depression. Competes for share of the depression treatment market. Compass board member Jeffrey Jonas was former CEO of Sage Therapeutics.

Broad incumbents

• Otsuka Pharmaceutical: Major psychiatric pharma company and a key competitor in CNS therapeutics, including the previously approved Abilify. Compass CEO Kabir Nath is a former Otsuka executive, and Otsuka board representation creates strategic alignment, though Otsuka's broad portfolio dwarfs Compass's single-asset focus.
• Lundbeck: Global pharmaceutical company specializing in psychiatric and neurological disorders, with marketed products for depression. Competes for the same prescriber base and patient population as Compass, though with an established commercial portfolio rather than a single pipeline asset.
• Boehringer Ingelheim: Large pharma with growing CNS pipeline and significant investment in mental health treatments including psychedelic-adjacent programs. Represents a potential big-pharma competitor or acquirer in the psychedelic mental health space where Compass operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/COMPASSPathway
• YouTubeyoutube.com/channel/UCtw-deXbqf0hy8dSNqSUqqA
• LinkedInlinkedin.com/company/compass-pathways

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds9 records

Investors24 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about COMPASS Pathways