Psyched: DEA Revisits Ban On Two Psychedelics, Farewell Russell Newcombe, Podcast Episode On Kanna & More
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 17 2024
0mins
Source: Benzinga
- DEA Revisiting Classification of Psychedelic Compounds: The DEA is reconsidering the classification of two psychedelic compounds, DOI and DOC, proposing to list them as Schedule I substances under the Controlled Substances Act.
- Passing of Russell Newcombe: April 4 marked the passing of Russell Newcombe, a significant figure in harm reduction advocacy and drug research globally.
- Benzinga Psychedelics Podcast Episode: Stephanie Wang, founder of KA! Empathogenics, discussed alternative mental health approaches using plant medicine like kanna on the Benzinga Psychedelics Podcast.
- Atai Life Sciences Results: Atai Life Sciences shared its Q4 and full-year 2023 results.
- Stock Market Updates: Various companies in the psychedelics sector such as Mind Medicine, COMPASS Pathways, and Atai Life Sciences saw fluctuations in their stock prices according to Benzinga Pro data.
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Analyst Views on CMPS
Wall Street analysts forecast CMPS stock price to rise
7 Analyst Rating
6 Buy
1 Hold
0 Sell
Strong Buy
Current: 13.290
Low
8.00
Averages
18.43
High
40.00
Current: 13.290
Low
8.00
Averages
18.43
High
40.00
About CMPS
Compass Pathways plc is a United Kingdom-based biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. The Company is engaged in treating mental health conditions focused on rapid and durable responses through the development of its investigational COMP360 psilocybin treatment. COMP360 is its psilocybin formulation that includes its pharmaceutical-grade polymorphic crystalline psilocybin, optimized for stability and purity. The Company’s initial focus is on treatment-resistant depression (TRD), comprising patients who are inadequately served by the current treatment paradigm. It commenced its Phase III program evaluating its COMP360 psilocybin treatment in TRD. In addition, the Company has ongoing Phase II trials in PTSD and anorexia nervosa. It also provides support to research institutions conducting investigator-initiated studies with COMP360 psilocybin in areas of serious unmet need.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Compass Pathways Grants Equity Awards to New Employees
- Equity Award Program: Compass Pathways plc granted equity awards on July 1, 2026, to eight newly hired non-executive employees, totaling 63,685 stock options and 30,300 restricted share units, aimed at attracting and retaining key talent, thereby enhancing the company's competitive edge in the mental health sector.
- Option Exercise Price: The granted options have an exercise price of $13.29 per share, matching the closing price of the company's American Depositary Shares on the grant date, which aligns employee interests with company performance and promotes long-term value creation.
- Vesting Schedule: These options will vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting in equal monthly installments, a structure that not only incentivizes long-term employee retention but also enhances team stability and execution capability.
- Regulatory Compliance: In accordance with NASDAQ Listing Rule 5635(c)(4), the equity awards were approved by the Compensation and Leadership Development Committee of the Board, ensuring the company's compliance and transparency in talent attraction efforts.
See More
Rapid Growth in Major Depressive Disorder Treatment Market
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- Clinical Trial Progress: Helus Pharma's HLP003 has surpassed 88% enrollment in the Phase 3 APPROACH study for MDD, with topline data expected in Q4 2026, marking a significant step towards commercialization.
- Significant Efficacy: Phase 2 data for HLP003 demonstrated a ~23-point reduction in MADRS score at 12 months after two 16mg doses, achieving a 100% response rate and 71% remission rate, indicating its potential in treating treatment-resistant depression.
- Strategic Partnerships: Helus Pharma has partnered with TARA Mind to enhance access to mental health treatment for veterans and collaborates with leading mental health organizations to support HLP003 Phase 3 recruitment, further expanding its market impact.
See More
Kailera Appoints New Chief Corporate Affairs Officer
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- Extensive Experience: Tregoning brings over 20 years of global corporate affairs experience, having held executive roles in biopharmaceutical companies, particularly her successful tenures at Cerevel Therapeutics and Sanofi, which will provide Kailera with strategic insights to navigate complex policy and regulatory environments.
- Pipeline Development: Kailera is focused on developing multiple GLP-1-based therapeutic options and is advancing four clinical-stage candidates, including the global Phase 3 trial of KAI-9531, which is expected to offer significant weight loss benefits for obesity patients.
- Market Outlook: As obesity becomes an increasingly pressing issue, Kailera's innovative product portfolio aims to meet the needs of patients and healthcare systems, and Tregoning's addition is expected to enhance the company's competitiveness in this dynamic market, driving its long-term growth strategy.
See More
Helus Pharma's HLP003 Phase 3 Trial Enrollment Surpasses 86%
- Enrollment Milestone: Helus Pharma's HLP003 Phase 3 trial has surpassed 86% enrollment, keeping the FDA Breakthrough-designated program on track for a topline data readout in Q4 2026, indicating the company's potential in the mental health treatment space.
- Clinical Trial Significance: Eric So noted that the continued enrollment progress underscores the execution of the clinical program, bringing them closer to the anticipated topline data release, which could provide a transformative treatment option for patients with major depressive disorder, enhancing the company's position in a competitive market.
- FDA Breakthrough Designation: HLP003 has received FDA Breakthrough Therapy Designation, aimed at expediting development and review, signaling significant improvement potential in treating major depressive disorder, thus boosting investor confidence in the program.
- Strong Market Demand: Major depressive disorder affects hundreds of millions globally, with traditional treatments offering limited relief; if HLP003 can validate its efficacy in Phase 3 trials, it could reshape the management of depression.
See More
Helus Pharma's HLP003 Phase 3 Trial Surpasses 86% Enrollment
- Significant Trial Progress: Helus Pharma's HLP003 Phase 3 trial has surpassed 86% enrollment, keeping the FDA Breakthrough Therapy program on track for a topline data readout in Q4 2026, potentially offering a new treatment option for depression.
- Clinical Data Highlights: HLP003 demonstrated substantial efficacy in Phase 2 trials, with a ~23-point reduction in MADRS scores at 12 months, and an 18-week response rate of 75%, improving to 100% at 12 months, laying a solid foundation for the upcoming Phase 3 trial.
- Strong Market Demand: With millions affected by major depressive disorder and existing treatments often inadequate, HLP003's fast-acting, neuroplasticity-oriented approach could reshape depression management, addressing the urgent need for novel therapies in the market.
- Far-reaching Strategic Implications: The Breakthrough Therapy designation accelerates HLP003's development, positioning Helus Pharma to carve out a niche in a competitive landscape, and successful Phase 3 data could pave the way for future commercialization efforts.
See More
Definium Reports Positive Trial Results, Stock Soars
- Clinical Trial Results: Definium Therapeutics' DT120 demonstrated significant efficacy in the EMERGE study involving 149 patients with moderate to severe depression, where a single 100-microgram dose led to an average improvement of 13.3 points on the MADRS scale, compared to 5.2 points for the placebo group, indicating strong potential for depression treatment.
- Positive Market Reaction: Canaccord Genuity raised its price target for Definium from $38 to $60 while maintaining a 'Buy' rating, highlighting high conviction in the DT120 program and its promising outlook for upcoming late-stage results in generalized anxiety disorder, reflecting strong market recognition of the drug's potential.
- Public Offering Plan: Definium announced plans to sell $500 million in common shares and pre-funded warrants in an underwritten public offering, with underwriters having a 30-day option for an additional $75 million, indicating a strategic move to fund research, potential commercialization of DT120, and general corporate purposes.
- Retail Investor Sentiment: Retail sentiment around DFTX stock surged from 'bullish' to 'extremely bullish' in the past 24 hours, with message volume increasing from 'high' to 'extremely high', despite concerns about upcoming dilution, the overall market sentiment remains optimistic, reflecting investor confidence in the company's future.
See More
Compass Pathways Grants Equity Awards to New Employees
- Equity Award Program: Compass Pathways plc granted equity awards on July 1, 2026, to eight newly hired non-executive employees, totaling 63,685 stock options and 30,300 restricted share units, aimed at attracting and retaining key talent, thereby enhancing the company's competitive edge in the mental health sector.
- Option Exercise Price: The granted options have an exercise price of $13.29 per share, matching the closing price of the company's American Depositary Shares on the grant date, which aligns employee interests with company performance and promotes long-term value creation.
- Vesting Schedule: These options will vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting in equal monthly installments, a structure that not only incentivizes long-term employee retention but also enhances team stability and execution capability.
- Regulatory Compliance: In accordance with NASDAQ Listing Rule 5635(c)(4), the equity awards were approved by the Compensation and Leadership Development Committee of the Board, ensuring the company's compliance and transparency in talent attraction efforts.
See More
Rapid Growth in Major Depressive Disorder Treatment Market
- Market Growth Potential: The global Major Depressive Disorder treatment market is projected to grow from approximately $20 billion in 2026 to nearly $36 billion by 2033, reflecting strong long-term demand and attracting billions in investment.
- Clinical Trial Progress: Helus Pharma's HLP003 has surpassed 88% enrollment in the Phase 3 APPROACH study for MDD, with topline data expected in Q4 2026, marking a significant step towards commercialization.
- Significant Efficacy: Phase 2 data for HLP003 demonstrated a ~23-point reduction in MADRS score at 12 months after two 16mg doses, achieving a 100% response rate and 71% remission rate, indicating its potential in treating treatment-resistant depression.
- Strategic Partnerships: Helus Pharma has partnered with TARA Mind to enhance access to mental health treatment for veterans and collaborates with leading mental health organizations to support HLP003 Phase 3 recruitment, further expanding its market impact.
See More
Kailera Appoints New Chief Corporate Affairs Officer
- Executive Appointment: Kailera Therapeutics has appointed Kathleen Tregoning as Chief Corporate Affairs Officer to advance its obesity clinical trials and navigate the rapidly evolving treatment landscape, thereby enhancing the company's leadership position in obesity care.
- Extensive Experience: Tregoning brings over 20 years of global corporate affairs experience, having held executive roles in biopharmaceutical companies, particularly her successful tenures at Cerevel Therapeutics and Sanofi, which will provide Kailera with strategic insights to navigate complex policy and regulatory environments.
- Pipeline Development: Kailera is focused on developing multiple GLP-1-based therapeutic options and is advancing four clinical-stage candidates, including the global Phase 3 trial of KAI-9531, which is expected to offer significant weight loss benefits for obesity patients.
- Market Outlook: As obesity becomes an increasingly pressing issue, Kailera's innovative product portfolio aims to meet the needs of patients and healthcare systems, and Tregoning's addition is expected to enhance the company's competitiveness in this dynamic market, driving its long-term growth strategy.
See More
Helus Pharma's HLP003 Phase 3 Trial Enrollment Surpasses 86%
- Enrollment Milestone: Helus Pharma's HLP003 Phase 3 trial has surpassed 86% enrollment, keeping the FDA Breakthrough-designated program on track for a topline data readout in Q4 2026, indicating the company's potential in the mental health treatment space.
- Clinical Trial Significance: Eric So noted that the continued enrollment progress underscores the execution of the clinical program, bringing them closer to the anticipated topline data release, which could provide a transformative treatment option for patients with major depressive disorder, enhancing the company's position in a competitive market.
- FDA Breakthrough Designation: HLP003 has received FDA Breakthrough Therapy Designation, aimed at expediting development and review, signaling significant improvement potential in treating major depressive disorder, thus boosting investor confidence in the program.
- Strong Market Demand: Major depressive disorder affects hundreds of millions globally, with traditional treatments offering limited relief; if HLP003 can validate its efficacy in Phase 3 trials, it could reshape the management of depression.
See More
Helus Pharma's HLP003 Phase 3 Trial Surpasses 86% Enrollment
- Significant Trial Progress: Helus Pharma's HLP003 Phase 3 trial has surpassed 86% enrollment, keeping the FDA Breakthrough Therapy program on track for a topline data readout in Q4 2026, potentially offering a new treatment option for depression.
- Clinical Data Highlights: HLP003 demonstrated substantial efficacy in Phase 2 trials, with a ~23-point reduction in MADRS scores at 12 months, and an 18-week response rate of 75%, improving to 100% at 12 months, laying a solid foundation for the upcoming Phase 3 trial.
- Strong Market Demand: With millions affected by major depressive disorder and existing treatments often inadequate, HLP003's fast-acting, neuroplasticity-oriented approach could reshape depression management, addressing the urgent need for novel therapies in the market.
- Far-reaching Strategic Implications: The Breakthrough Therapy designation accelerates HLP003's development, positioning Helus Pharma to carve out a niche in a competitive landscape, and successful Phase 3 data could pave the way for future commercialization efforts.
See More
Definium Reports Positive Trial Results, Stock Soars
- Clinical Trial Results: Definium Therapeutics' DT120 demonstrated significant efficacy in the EMERGE study involving 149 patients with moderate to severe depression, where a single 100-microgram dose led to an average improvement of 13.3 points on the MADRS scale, compared to 5.2 points for the placebo group, indicating strong potential for depression treatment.
- Positive Market Reaction: Canaccord Genuity raised its price target for Definium from $38 to $60 while maintaining a 'Buy' rating, highlighting high conviction in the DT120 program and its promising outlook for upcoming late-stage results in generalized anxiety disorder, reflecting strong market recognition of the drug's potential.
- Public Offering Plan: Definium announced plans to sell $500 million in common shares and pre-funded warrants in an underwritten public offering, with underwriters having a 30-day option for an additional $75 million, indicating a strategic move to fund research, potential commercialization of DT120, and general corporate purposes.
- Retail Investor Sentiment: Retail sentiment around DFTX stock surged from 'bullish' to 'extremely bullish' in the past 24 hours, with message volume increasing from 'high' to 'extremely high', despite concerns about upcoming dilution, the overall market sentiment remains optimistic, reflecting investor confidence in the company's future.
See More
