Psychedelic companies feel that Compass Pathways results validate efforts to develop next-generation medicine for treating mental health issues
Hours after psychedelic leader Compass Pathways (NASDAQ:CMPS) announced Phase IIb results from the largest modern study on a psychedelic substance, the stocks of most psychedelic companies holistically took a nosedive despite generally positive results.
Peter Theil-backed Compass published data revealing that a strong dose of its Comp360 medication (a psiloCybin (NEO:CYBN)-derivative in a crystalline form) helped reduce depression in patients suffering from the treatment-resistant mental health issue.
While overall positive, results indicated that 179 of the 233 participants in the trial experienced treatment-emergent side effects. Compass, however, said that except for 12 patients, the rest experienced mild adverse events like headache, nausea, fatigue, and insomnia.