Compass Pathways launches $150 million public offering

Compass Pathways plc (NASDAQ: CMPS) announced a proposed public offering of $150 million in American Depositary Shares, with each ADS representing one ordinary share. The biotechnology company also plans to offer pre-funded warrants to purchase ADSs to certain institutional investors.

The company expects to grant underwriters a 30-day option to purchase up to an additional $22.5 million of ADSs at the public offering price, minus underwriting discounts and commissions. The proposed offering remains subject to market and other conditions, with no assurance regarding completion, timing, or final terms.

Jefferies, TD Cowen, Cantor and Stifel are serving as joint book-runners for the proposed offering. H.C. Wainwright & Co. is acting as lead manager, while LifeSci Capital serves as the company's financial advisor.

The securities are being offered under a shelf registration statement on Form S-3 that became effective on May 7, 2025. The offering will be conducted through a prospectus supplement and accompanying prospectuses.

Compass Pathways is developing COMP360, an investigational synthetic psilocybin treatment for mental health conditions. The treatment has received Breakthrough Therapy designation from the FDA and Innovative Licensing and Access Pathway designation in the UK for treatment-resistant depression.

The company is headquartered in London with offices in New York.

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