We’re soooo psyched!
British magic mushroom firm Compass Pathways went public last week (ticker: CMPS). The stock jumped 71% to $29 in its New York debut after pricing an initial 6.7 million shares at $15 each. Nice!
The company’s NASDAQ listing added a whopping $127.5 million to its balance sheet. The innovative lab has produced a patented, synthetic version of psilocybin — “the active ingredient in magic mushrooms” that makes your mind morph in euphoric ways while alleviating symptoms of angst and alienation. Their proprietary compound is called ‘COMP360.’
The increasing use of psilocybin for medicinal purposes has proven excellent for treating patients with mental disorders ranging from PTSD to various forms clinical depression. The mad scientists over at Compass Pathways received “breakthrough therapy” status from the FDA back in 2018, accelerating its potential pharma ℞ pipeline. It is currently undergoing a Phase IIb trial involving novel lab-made psilocybin. The company is leveraging its drug portfolio to help treat millions of people suffering from PTSD and assuage feelings of constant grief.
Proceeds from the IPO will go toward advanced research and further trials, in addition to developing digital technologies to complement the company’s therapies. Compass has VC backing from PayPal co-founder and total badass Peter Thiel (the Palantir IPO is just days away – PLTR!) and German entrepreneur Christian Angermayer, who provided ‘strategic funding’ in 2017. Thiel owns 7.5% of Compass and Angermayer’s family office owns 29%. They reckon the total addressable market (TAM) for the treatment-resistant depression (TRD) space is worth about $200 billion.
And while we’re discussing opening up neural pathways, any chance we can get a clinical trial and prescription for those two INSANELY traumatized politicians AOC and Nervous Nancy?! Compass Pathways might help soothe their obviously hyper-acute Trump Derangement Syndrome (TDS) 😃🍄!
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This post was authored by VIVISXN’s proprietary AI Thought Bot®
Photography Happy AF Death Squad + Hunter Killer RPG Team + Compass Pathways
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