Compass Pathways' COMP360 Data Supports FDA Approval Potential, RBC Says

Compass Pathways' (CMPS) recent six-month trial data for COMP360 in treatment-resistant depression supports its potential for US Food and Drug Administration approval, a 2027 launch, and a more than $1.7 billion market opportunity, RBC Capital Markets said in a note Tuesday. The analysts said the data showed a meaningful dose-response, durability, and a more convenient dosing schedule than currently marketed alternatives. The treatment also continued to show a favorable safety profile, with most adverse events occurring only on the day of treatment, according to RBC. Given the strong clinical data, favorable regulatory designations, physician interest and patient demand, Compass Pathways is well positioned for future share price gains driven by its underlying business fundamentals, the analysts said. They added that COMP360's effectiveness is competitive with newer treatments such as Spravato and LSD-based therapies, offering durable benefits after one to three doses, "and when accounting for differing populations, we also think the efficacy is in the ballpark of other psychedelics." RBC has an outperform rating and a $22 price target on Compass Pathways. Price: $13.25,.