CMPS - COMPASS Pathways Q3 2023 Results: Cash Injection To Sustain Phase 3 Psilocybin Program | Benzinga
COMPASS Pathways plc (NASDAQ: CMPS), the London-headquartered psychedelics biotech company reported financial results for the third quarter 2023 ended September 30, showing:
-
Cash and cash equivalents of $248.0 million as of Sept. 30, 67% more than that held on last quarter’s closing (June 30,) and 73% than by Dec. 31, 2022.
-
Long-term debt of $28.4 million, vs. $28.1 million by June 30 and $0 million by Dec. 2022.
-
Three and nine month net loss of $33.4 million (or $0.67 per share) and $85.9 million (or $1.81 per share), representing 81.5% and 42.2% increases from the comparable periods in 2022 -$18.4 million (or $0.43 per share) and $60.6 million (or $1.43 per share), respectively.
-
Three and nine month R&D expenses of $21.5 million and $60.4 million respectively, a 53.6% and 33.3% rises as per the comparable 2022 periods ($14.0 million and $45.3 million, respectively.)
-
Three and nine month general and administrative expenses of $12.5 million and $38.1 million respectively, 7.7% and 15.5% increases ...