CMPS - Earnings call 3 2023 | COMPASS Pathways plc

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Operator

Good day, ladies and gentlemen, and welcome to the COMPASS Pathways Third Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode.

As a reminder, this call is being recorded. I would now like to introduce your host for today's call, Stephen Schultz.

You may begin.

Stephen Schultz

and quarter for XXXX you, for us of third our results all thank joining you today Welcome conference call. is COMPASS name Investor my Steve Vice Senior Again, President Relations at Pathways. Schultz, of Nath, Today, I'm our Chief Officer; Financial Chief Officer; Dr. Mary-Rose Interim our and joined Hughes, Executive Kabir by Guy Chief Officer. our Goodwin, Medical me for and we be shortly of and conclusion meaning XXXX after as on is everyone Litigation a of Securities COMPASS days.Before the remind archived XX period call Reform let the the of making The the will Pathways' during being begin, the will will recorded Act Private team the available forward-looking call Investor website that be Relations within statements today, amended. be

Actual or results the those of factors, should filed SEC. materially uncertainties from including by differ implied U.S. subsequent various events in other XX-Q or as Form You undue risks, forward-looking and place the by Commission not under a expressed those filings our could and on forward-looking reliance any in made statements heading COMPASS on and risks with result and Risk uncertainties statements. Exchange with report Factors described Securities the these quarterly

change.I'll our forward-looking not statements represent subsequent even if representing any statements hand as forward-looking estimates and specifically call only now disclaim assumptions should the Kabir We date. Nath. these Additionally, views as today update to be revise or of as upon over any relied views our of any to or obligation our

Kabir Nath

for Steve. Good joining thank day, us. you, everyone, you Thank and

Phase in active August. We've now to updates regulatory call quarter, partner more expect Rose, where our the I finance X and for then finance through executed expect foundation laying CFO the contributions the COMPASS Guy about initiated extensively our respectively. discussions she team mid-XXXX, should in Mike Mary several and our COMPXXX as as and for with over Mary financial instrumental been new for particular, update. strong endpoint programs to and by depression, thank and Financial our team and Rose we the smooth aspects been to finance in led more manages Guy want III you Let and introductory moment. the track, candidates. member. since trials organization call on Rose provide will I the to Investor we're with second she's welcoming exception as our Relations, She's of significant me the subsequent COMPXXX, as Steve. Officer. and our some search financings. and primary all a in to hand and treatment-resistant continue transition to when IPO debt After our TRD an Hughes we with and CFO, XXXX NASDAQ finance begun clinical equity detail joined May Fabi leads or service a business in summer for financing clinical XXXX in and Chief Mary begin has the readout Mary-Rose to in of remain our operation his remarks a will Interim with trial other for TRD, provide in on and third

under of puts year.This $XXX million external will and to XX% of of encouraging. We if that TRD. continued this the need unmet be infrastructure demonstrate quarter, this strong sales approved. also quarter we treatment, centres million other which interventional last delivering the of see growth Spravato esketamine of very name increase run capable a be for of on the well third continues sold in we at over the XXXX, Looking expect compared environment, development, to Spravato, We global to driver important to continue facilities find an sales brand $XXX achieved this rate the an continuing believe for psychiatry COMXXX treatment

to This Board with all investors, attractive a through was a an management XX% with we This XXXX as Chief upfront approximately as planned This Financial experience President Directors. includes financial corporate her their additional of and move management, understanding with Daphne by by biotech confidently A Board a and late Officer group biopharma and our also at financial terrific specialist Currently, Karydas if the is investment dictated COMPASS of to and welcomed our premium new accompanied investment the deep to very her vehicle, industry a Daphne banking. addition quarter, application multiple of premier our foundation private drug experience as proceeds that as programs Flare investor fully Therapeutics, in was exercised. completed if priorities the biotech to ensure involved financing The in upfront for the up structure a supporting the the and strategic clinical by financial placement warrants filing remains investors effectively $XXX million and will $XXX to August, functions readouts.This exercised FDA. investment help on investors runway potential gross proceeds to warrants. well an financing COMPASS in $XXX financing when an COMPASS last forward extends we to firm price. cash ground.Finally, supported financing for up with at are COMPASS additional permits million pivotal and warrant the million sale studies strong

now Guy? our clinical update broad news let on work the XXX a We regulatory quarter. the approved, call patients COMP also Guy with With in if to we're hand need all for equitable successful during to access providing better pre-commercial the and you continue of launch, to to prepared of aim and that, to ensure invest me in treatments.

Guy Goodwin

Kabir. you, Thank

demand both Patient before, and TRD Schedule is countries. I a I of for the you've need also is U.K. sites and through up additional continue These degree we of in and for this the getting this the now recruitment. initiated. licensing heard, DEA At have administrative been clinical our to And III in X/X strong, have working in running of approval trials with recruitment. number is sites COMPXXX and Phase active advance impact of the U.S., As one, sites of the new of given requirements. time, said process a demanding XXX, unmet EU Screening details the early scheduling rates of can complex visits complexities sites. the navigating especially population.As Canada, have

and demand to So eventual the as close expertise track. however, a robust of key and management each paying across implementing strong, the expect, at rates area we the are Schedule in is the and factors we is developed for patient on all to very you to remain would meeting trials clinical competitive ensure advantage. of maximizing our X we the Patient attention psychedelics science, accrual global managing and requirements have complexity site.Looking of of these steps represents

Beyond treatment-resistant fully our is tolerability recruited. open-label depression, II safety evaluating study Phase and post-traumatic in stress disorder,

so line are address any Anorexia a is need today. We follow to solution. so find necessarily full mental highest with is no is do rate difficult before, the year carries presentation and why and health to treatment. for is of one set that expect we of work there challenging. year.As readout nervosa top reason next recognize Patients said we've conditions, important treatments the data mortality this it FDA-approved and available it why not This their to anorexia nervosa it

will financial steps, this I burden Ireland reduce but study, to Mary reduced adding not yet clinical on we the the ready other the and some X call the of on sites in-person overview. Texas, protocol phone-based patient. numbers guidance the completion are including amendments taken screening, now for update of and have to We additional in visits to Rose hand

Mary-Rose Hughes

of net to a $XX.X turn Thank or quarter you, cover our $X.XX the $XX.X of Guy. of compensation XXXX.I including $X.X highlights per prior now of million. share-based the share, noncash I'll per or year results. compared financial of net quarter million the loss third XXXX, will results this last, $X.XX to of million share, for including million quarter second current third $X.X Compared results. to our the compensation for third loss now quarter quarter Comparing was analysis share-based to noncash third

results the financial operations from August Phase $XX.X were million. trials extending quarter financing. continued current the in in in Our advancing used Cash our in treatment-resistant in success encouraging proceeds quarter progress third our the reflect with runway depression and III our cash

for million the guidance received. We $XX.X in Towards $XX.X due being were prior $X.X we this prior quarter. this the was III quarter progression was and expenses a not quarter provided increase to end compared program. in quarter, in $XX.X now share broadly These in the $X.X G&A net quarter $XX.X or range expenses prior quarters the The compensation the Phase external expenses last in $XX.X with to the noncash of results of the compared million were development of with in the due million million in at yet loss million or this share-based anticipate this credit $X.XX tax credit $XX.X higher million consistent include million in quarter. receiving quarter.In prior R&D to per mainly million $X.XX loss and quarter. R&D the related quarter quarter. per fourth our of both share net

facility cash sheet, $XXX $XXX.X the proceeds. upon into million $XX.X And under entered Long-term if agreement balance and securities at we end the was will million cash Hercules our of net closing. an million a investors proceeds debt of third XXXX. by upon receive $XX.X exercise in million of third our increased their we In to received loan warrants, quarter. August, Turning approximately in the purchase quarter additional

million million. in quarter net fourth expect operating financial cash Regarding guidance, $X $XX be used and activities to between we

expecting tax fourth now in are to million credit estimated $XX the quarter. We receive our R&D

to year use and are is between million timing the for uncertain.Turning this in operations we of million. full narrowing guidance, the range financial $XX $XX to cash However,

manage full million with December year late in to to position able of with and August back maintain our spend greater value XX, $XXX have the as to remaining will our pivotal a financial continue continue our runway create year million COMPASS extended XXXX, our XXXX strong programs XXXX. of call which advancing financing we cash in and has Kabir. at compared we important now order turn The believe XXXX, will end milestones equivalents narrowed achieve we you. approach to into cash the and XX, that We I'll September continues to shareholders.Thank with carefully for $XXX.X the forecast accuracy. at range are

Kabir Nath

Mary you, Rose. Thank

Let me grow continue our our data. Phase that countries. numerous in and with III site clinical say a than trials less ongoing in we line We're both pleased III progress. from again Phase year top initiations to are initial

to equitable be psychedelic calls, be this the to continues provision infrastructure of forward for in evolve approved, and to year also important COMPASS, we've closing, updating for services launch will should approach So further We're which psychiatry may expand. you an we and exciting any we of milestone. be treatment as component of balance development interventional infrastructure encouraged XXXX it's and we look that will access The navigate important of contribute TRD need new associated of if both an COMXXX also people XXXX, previous with our medications, awareness ahead rapid-acting well broad growth of COM tracking January living these effective. We market Esketamine to ensuring strong is sheet, X treatment treatments. the XXX, evidence conditions. CPT the code can and these that option an and potential for This for challenging novel, believe with with extensively patients.From discussed patients.In

in We raised funds our wisely. will financing invest the

our participated of August want in are program and indications behalf entire for I Phase financing.Thank On today's those your team, follow-on focus. call. investors again thank Our III you participation treatment-resistant the in who clear in the to depression COMPASS our

Q&A. We to will turn now

hand the call the operator. to back So I'll

Operator

the session. conduct Thank you. we'll At question-and-answer time, this

from Baral Our comes with Ritu Cohen. first question TD

Ritu Baral

as potential of that percentage Spravato right this quick detail appropriate, CoMPXXX. the giving potential or Kabir, potential the And are have centres, a And sites to be clinical could they and you even to enrolment, post number them all training little centres sites, open, what effect, they of completely have follow-up a it to centres. clinical finish to administration a expansion be they your in congrats opening now esketamine. the set you on then Do open ask getting would as have, further you trained as you or you before there been feel have an for existing may for have idea the to and administration act question commercial. centres as flip that, around of more to as XXX commercial that centres if and you up capacity approval, do start

Kabir Nath

esketamine. centres that question, today So that exact of And to are regional administered numbers, the about, it's clearly to that's our some being we've clinics. is larger don't also the hundred but first these within that treatment talked able we the that some systems a several fact within of offer psychiatry are there of belief but have health centre interventional mix

important on systems it's delivery are the we esketamine XX that today as being potentially we more to talking with to doing offering we've those think COM they clinics. work of of for and there we pre-commercial don't is around esketamine I some bring the off-label from those to that grow. XXX, COMP clearly see health for to to the seen were see of again, the are see Com continuing so of and appropriate anywhere is necessarily we economically board. regional distinguish would Part that opportunity potential delivery adaptable have those but of as acquaint offering essentially and those, on the how clearly numbers Spravato, to And just XX.But see that ourselves start sites certainly struggled

sites, terms site for of we the In to XXX few go. to sites initiations and a just of have clarify, up more with again, running majority and now

to So mixture. And a to that believe a Guy truly are a we unique By and a They're clinical and others perspective, training, from support during getting patients able anything we've setting the a obviously, said clearly thoughts. to to expect you number add be is be. from administration specific our a the work of through want because would to different you the rapidly modest also what definition, therapies academic a will setting trial be we're your need commercial commercial.In commercial there but as wouldn't is do scale very necessarily training different comfortable significant we to Psilocybin, one be the expect tailored set. for some that some of we that's may with will commercial trial question sites a then do but terms there intensive of it add is are real-world the absolutely training I very Guy, of different his sites from setting. but I'll for into clinical today as past, setting a continuing in of Clearly, to delivering are to designed comment, that? to mixture whether a ask the

Guy Goodwin

year, it well being training We will that as stimulus it really think to the say trial, program commercialization. I providers work evolved to Just think our evolve continue exactly and has we in last towards in practice. how to the will the move work with about

track So the will I long well in think which we're be beneficial changes, term. on to see

Operator

Our Cantor. next question with Duncan Charles from comes

Charles Duncan

it, more for being are demand. sites enrolled? openings site XXX than, steps of are And for site I'm seeing couple First that in of XXX, with call the the progress I you congratulations those progress to questions. on patient modulator openings. you When all, you believe just perhaps a single a rate limiting than that had you have if opened and bigger consider patient wondering XXX, a

Kabir Nath

more seeing than single certainly We're patients.

quite earliest see sites Some sites, we still the will the few exactly up rate it's picks the early. going wait have run of pretty got well. the over how And next to weeks. And

pretty who confident I But terms have who've where that As are there and earliest early experienced to where good with rate. is are coming got to we're is setup showing tried the sites up difficulty explain, new things. it delays those run a and in most

Charles Duncan

you're given that, for signal yet but see or I'm moving you this that not this. win? That's as Surely, anything a what to seeking, a with it's intrigued p-value And looking the data open-label helpful. like on quite the study open-label PTS, then year would

it you know next and interested would step? call what So to encourage to operationalize

Kabir Nath

a safety Well, it's study.

So well acceptability patients, went went the therapies. will the it the it how be well for number just to question, how

And do the do of that making the obviously be issue with we we'll as much what can the trauma different study, second look what it's It's measures in is, find. tempting, The on across and effect decisions particularly is memory. we're obviously, at studies will compare trials. look we too measures to that of difficult the sizes existing of making, MAP basis with to secondary we we response the

So, next doing forward we're looking to that year.

Charles Duncan

next you PTSD? study in anticipate a operationalizing year Could

Guy Goodwin

will focused for our said, So clearly, But we program that completing might this decisions are how take anorexia. at always we as also point. and we and we've are a we in consider strategy PTSD no are see on unmet science, TRD very but forward. by driven if But there we strong the needs a signal,

Charles Duncan

a that me, through Does guide not XX thinking? contemplate study difference cash the XX%. mid would of a or Kabir, excuse -- that 'XX, or be And

Mary-Rose Hughes

Yes.

virtually as evidence [Indiscernible]. XXXX, it that's would a promising, If study. of but doesn't further We now. So contemplate consider right not that

Operator

with comes question from next Oppenheimer. FranÃ§ois Brisebois Our

FranÃ§ois Brisebois

couple of Just a them.

with sites? or down at that sites What are Spravato. delivers sites COMPXXX said you've those could You from be How about that been pushback potential Spravato there switching potentially discussions going? discussing also allowing currently the that have road

Kabir Nath

as we're settings in very delivering taking steps has patients very in I delivering mean, today interested treatment-resistant that population, have X these economics the COMP in establishing for XXX delayed said, Spravato could COMXXX.Clearly, the with who should that depression, for So physical first I delivering principle, premise anyone also different. is appropriate potentially are be clearly are same taken for the but around be

but month label monitoring time it's So administrations, clinic of much longer just administrations obviously as the shorter a session something less we're is and for and the at a looking dosing, in duration that frequent after fairly COMXXX, in that the but the day the period. With second in reminder, first frequent. Esketamine required of a with on

get feasible are and appropriate these that in the understanding to work Spravato So we the CBT code incentives is we're not for it practice with place these but to X is in of engage it's COXXX. ensure also we part a work on did of that is course, context places deep treat the with the only really important. make with doing the to that And of economics so

FranÃ§ois Brisebois

and can its then sessions centre holes makes sessions, you a it sense multiple economically more that's centre? with And longer have between to profitable the have one then have us to some maybe but session or What maybe help but for understand, for patient. evolving, or practical is economically more

Kabir Nath

seen one is centre. what you've I when one seen So would sensor, you've say

job So that's lot I why to to we as compares that that of Spravato to is build a is [Indiscernible], guess of had that's to our provide And know is centres maybe just part it sure that But of or or on whatever attractive work the deliver. we COMPXX, answer that understand one make this TMS reasons the economically these interventions how other to that. this. and mean I we

FranÃ§ois Brisebois

Can one, the you your had publication a Last elaborate press significance in terms and just you recently. in of release this space? more something AI of mentioned on

Kabir Nath

moment, the mind Well, that in preparing is everyone's in large go looked machine patients processes using obviously learning both and language try of experience we're models top on integrating their and treatment. understand the we and at use to we've the after and also

or us. measures that's tell at a and mean, certainly the we pretty of efforts something that estimate place that to initial I can people be suggests whether make look is treatment, actual non-responders the that thing therapists of essentially our the take confirming this and patient what going subsequently. responders are other Our good the after session between

ways that there actually not to experience, really of using other patient now the and a you we in do interesting. AI these that predictive the to year, And be sense looking some might which more measures it's but next in that probably quite very some also it training, from complex contribute at it's can of models possible think emerge precedes are in point we're those. patient there are constructed.I exploring So about we'll ways whether that bit because treatment, that whether it's understanding presentation and kind tell detail are

Operator

H.C. Trucchio Wainright. Our next comes question with from Patrick

Patrick Trucchio

about question of that in a have I seeing we're dynamics some field. the the

COMP if compounds field? generate And XXX these you see approach as COMP additional to see your anxiety. and could some So compounds? clinical others to treatment on begin depression in of you these provide perspective compared the to psychedelic data I'm what XXX to relative we as wondering advantages

Kabir Nath

will let add start, So Guy and as I'm well. me sure

compound just conducted is and So first we the and psychodetic. generating the exception by delivering potential largest IIb with you reminder, group study evidence most COMP a study a esketamine of we that the regard as robust yet significant psychonomic the are with focused on And Phase if remains done for way, XXX. any

think or really the before others to of scale sort also data of approaches.Again, replicate is to our the durability. as and molecules benefits you more is and not start we dose the view generate got robustness on I across the have same administration same can with know, comparing our data sort So potentially designed of Phase robust much III repeat around generate COMXXX only but with enhance

that So at very comparisons specific ask you there's of the stage I us But don't that. to and think I'm candidly, so Guy address, a on. we're want across making sure or take could to I assets if Patrick,

Patrick Trucchio

as was just data. of compounds that I have there's to these generate started second-generation some curious

about compounds? or TMT we even to CompXXX? ahead perhaps with those with to studies with those do you think X relative CYB How look larger as So

Kabir Nath

would be think good I it a good interest. to with study Well, really, those proper and we see It await great them, would be to Patrick. see

Patrick Trucchio

of companies guess partner strategy health go-to-market you a some mental of emerging part on So the care? in the in with digital COMXXX question How perhaps then envision digital depression? therapeutics just opportunity there And do being an to follow-up I with is the strategy. digital

Kabir Nath

as that therapists. are and launch benefit that digital So patients the a to time to tools potentially I both been regard always think we've clear say at we of

some around described the link understanding as to in what between sessions just we some can now, actually outcomes. While markets understanding Guy we're interesting and patients very doing happened the therapists how work the of

what more validating companion data if need looking not work is tools, well. that digital be at that, lot and place will clearly a sets launch. pathfinder, at we're robust launch about as you is those.So and expectation We do for my like, therapist to a in building Our

challenging I And our se been to think, is outcomes. patients ambition there scale field better we has one mental and help mental pretty get health, to in clearly, seen any digital yet. haven't But a therapeutics with illness really serious per established can be yes, made focus road with see or core the that for that not could or potential some the other now, down for I us. in right progress synergies core working a that. have these priority companies that's a of But

Patrick Trucchio

There's a helpful number might programs? ongoing several idea could of provide I'm our this can next an us you insights which these future these which are year investigator-initiated studies occur indications. give of in do that of you complete think if across wondering studies and or

Guy Goodwin

Yes, primarily I'll next is mean, drawn TRD trauma year, that, interesting in and from to be Patrick. published prehearing was I which the I VA we which -- an one will a system think patients study. lot in have take of have

think certainly looks I data at will specifically. which rather that XXXX. And have one another some probably utility in also We have preliminary

that in addition, be you already probably published but we've think I in later think made of the aware study in fully XXXX. Imperial, you -- anorexia will I

the relevant studies. core But I because our mentioned studies our be TRD and the others the the we of focus. that entirely some that reporting So know -- I predict any the know, relevant, have I we those examples particularly to in they're can't them course, will rather rather not be we finality they're as X detail. probably three some can't properly mean of best.And that of are you predict they're And think are

be very in we'll So interested those.

Operator

with next comes Our from McCarthy Maxim Group. question Jason

Michael Okunewitch

little question the I to you guess if off, I'd could model. just a Francois' AI on to kick regarding expand like bit see

of rather be whether an a analysis dose predictive Will into a would this patient like Given at go you this in study? decision the than needing could response whether a XXX is the you're or look or process evaluating dose only potentially one marker, of repeat something that early part

Kabir Nath

also the on, and At it very that we can not they're but predictive the in how how predictive in back component of is how be to that how quality don't in that the thinking more change record far actually that see. automated, the that, I are doing. want think experimental an it's That's relation moment, it early and we're of acceptable predictive by symptoms patients feed that more why than clear There not patients input therapists can very is measures.So know to clear is I fully to therapy sense we therapists other it's the to far the early outside this we responding be setting. we're question

how training, I about natural we can I that XXX. But in it's we clinical the COM be be key interactions. which purely also, It how very help clearly it. likely arises ecologically administered to someone. therapist as practical to apply sound So our in cautious And to say, not we're think it measures think it's because from launch the it do It may improve understanding. us the way which supports our will refine by we

Michael Okunewitch

help at prep and that there's or I'd like inform on MAPS for direction comment anything could from see And the COMXXX? regulatory possibly your process to strategic just you're if looking you to launch if specifically evaluating

Kabir Nath

I those, we of either is, that. all insights regulatory say, the obviously, what clearly have don't would So that into will be launch any they're either process yes, specific prep. we doing But or watching for

that many same successful, application, physicians. and same do to and assuming the of process they the of an and outcome will there's talk watching it's We sites And indeed, be we assuming many obviously, to launch. how on prepare the of so

Operator

Sumant question comes next from Genuity. with Our Canaccord Kulkarni

Sumant Kulkarni

patients that following It's in IIb time more now? any Phase how the any been you on trial expect some And enrolled additional anecdotes that? on could were some Do there since has be still we that? doing you patients data ended, are but are have might

Kabir Nath

of up follow-up writing Well, the the course, got, in process that we have full. we're of data in

it's following, So but that's people are that data we digested. fully not -- haven't still

follow-ups showing that in We are we There you example. their sponsoring. XXXX. will are imagine, of that, be we that long-term I suspect, conducting as a the PIs These patients, might have interest they in who not quite lot are are and in know for studies Netherlands, individual

great we conclusions we'll So know on. what going deal those we in not about, ones they're And like of interested but they're obviously very a be detail look have studies. those that from

Sumant Kulkarni

And how then Phase be closely monitoring if at you or a all? will III follow-up even data, on XXX program blinded your XXX,

Kabir Nath

third blinded us. We come to It doesn't a don't The definition, comes is, monitor data. data by to party.

Operator

Our with comes question Clark-Gartner Evercore from next Gavin ISI.

Gavin Clark-Gartner

what compares far you and seeing trial? when rate how this just assumptions, your Greenfield wondering the I'm you're design thus to

Kabir Nath

out giving that really not We're of kind afraid. data, I'm

Operator

BTIG. from with Thomas next [Operator Shrader comes Instructions] Our question

Thomas Shrader

is this it really like sites. sense kind the curious if We're the similar actual Are getting you to of you commercial of wondering the it, I'm everybody they're And sense whether if smaller. footprint site many excited expected sites, decide? process, bit But a will say, world, a of where places pick footprint. in questions. CAR this, and is you're which Or about you're final having of want the to your of then much is the involved T power kind look get all a asking sees little I'm physical but getting recruitment

Kabir Nath

guide Yes. see and let on mean I that me a it. start on

large process. would Obviously, I that selection of of very clearly, can are that we we beyond poor of complicated, of results. were and psychiatry Phase I much plenty I significant selection. sites though, site nucleus to that, are where in think thing demand, we second for say. it's that think and commercial so think We're careful IIb are very X next trials a academic knows I there One, about control have And scale is But in mean, careful. in program. one going about to demand site there being I the very the III contributed things core patient are core said, anecdotes sites, Phase the has Guy the right of picking is that say from in interest as on.So successful that to and that. then patient everyone

of do an offer practice a you're that be as COMXX a So potential so trials not sites with in every Spravato therapy. But scale, number seeing others will our obviously, in to deliver continues psychiatrist to could single evolve think and as commercially. on ever-increasing I this position

Guy Goodwin

I I analogy clinical that If with right. difference. the than isn't makes trials difficult more add, are I And could our a do quite CAR-T to really mean practice. just think

talk appetite But do an provide have or who patient they do you clinical good a people they service don't are If of trials. providers [Indiscernible] have to really experience appetite services, to population. an to clinical to

against kind So treatment activity. really we to keen think of but mind, bear dream with a understands offering live when quite very give really a who different in it's be a centre, a And clinical at And investigator trial, don't clinicians, wouldn't many have the you're can that. arm. had of we literally people trial you in chance about the that conversations that to could something And and clinical it's how because high look has their They of to do implementing like are spirit. their offering because human for just of failure control with. really providers

is centres same unusual. treatment trials And real the are Getting in to trial. different easier life, to tough. compared will do deliver those think, So people getting and be clinic I people who

Operator

to session. remarks. time, like At would this management back call the question-and-answer for I the turn closing to concludes That

Stephen Schultz

Thanks very much.

So the strength this vehicle a you we're always said, well, today. to further Again, the And forward of of for with your today's year. we at And significant with execute raised data said, on in financial program Phase attention end as as once to to you III further for position all next that in updating participating very PTSD confidently as we've TRD. milestones for August, much in thank look on year. our We we with everyone, call. the in financing, that's which private again, potential you, continue financing placement thank a has

Operator

program. your Thank This today's conference. conclude in does the participation you for

may You disconnect. now

COMPASS Pathways (CMPS) 2 Nov 232023 Q3 Earnings call transcript