Compass Pathways’ Psilocybin Treatment Shows Promise for Depression

LONDON– London-based mental health care company, Compass Pathways (Nasdaq: CMPS), announced encouraging outcomes from a phase 2 clinical trial investigating the efficacy of its synthetic psilocybin treatment, COMP360, in combination with daily SSRI antidepressants for persistent depression. The study involved 19 individuals with treatment-resistant depression and examined the safety and effectiveness of a single 25mg dose of synthetic psilocybin, administered alongside psychological support and an SSRI.

Initially disclosed in December 2021, the trial’s data has now been published online in the prestigious Nature Journal, Neuropsychopharmacology. The results revealed that 42% of participants experienced a significant reduction in depression severity, achieving response and remission rates within three weeks. These findings align closely with the outcomes of Compass’ previous phase 2b study, where patients discontinued antidepressant use before receiving COMP360.

The study’s findings challenge the prevailing notion that SSRIs may impede the therapeutic potential of psilocybin. According to Guy Goodwin, Chief Medical Officer at Compass Pathways, the data is exciting as it indicates that patients can continue using SSRI antidepressants while still benefiting from COMP360 psilocybin treatment, comparable to those not on SSRIs. Goodwin emphasized that if COMP360 receives regulatory approval for the treatment of persistent depression, these results could offer crucial clinical options for patients.

COMP360, Compass’ proprietary synthetic psilocybin, is administered in conjunction with psychological support. Building on the positive outcomes of the phase 2 trial, Compass is now advancing towards a larger phase 3 clinical program, which is set to be the most extensive study of its kind to date. The company has long maintained that this program holds the potential to drive progress in the field of legal psychedelic-based medicine, offering new avenues of treatment for individuals suffering from persistent depression.

Compass Pathways has attracted substantial support for its endeavors, with Hercules Capital recently investing $50 million in the venture. As of the end of June, more than half of the funding had already been utilized. This financial backing further underscores the growing interest and investment in the potential of psychedelic therapies to address mental health challenges.