Compass Pathways raises $200 million from warrant exercises

Compass Pathways plc (NASDAQ: CMPS) announced the exercise of 35,059,448 warrants that raised approximately $200 million in proceeds. The warrants were originally issued on January 13, 2025.

The biotechnology company is issuing 15,160,619 American Depositary Shares and pre-funded warrants to purchase up to 19,898,829 ADSs to certain institutional investors in lieu of additional ADSs following the warrant exercises.

The company plans to use the proceeds to fund ongoing COMP005 and COMP006 Phase 3 trials, its Phase 2b/3 trial of COMP360 in post-traumatic stress disorder, commercial readiness activities, and general corporate purposes.

Combined with approximately $141 million from a recent public offering that closed on February 20, 2026, and existing cash, the company expects the funds will be sufficient to cover operating expenses and capital expenditures into 2028.

Compass Pathways develops COMP360, an investigational synthetic psilocybin treatment for mental health conditions. The treatment has received Breakthrough Therapy designation from the U.S. Food and Drug Administration and Innovative Licensing and Access Pathway designation in the UK for treatment-resistant depression.

The London-based company, which also has offices in New York, focuses on developing treatments for patients with serious mental health conditions not helped by existing therapies.

You May Also Be Interested In