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Compass Pathways’ Psilocybin Therapy Hits Phase 3 Goal in Treatment-Resistant Depression

The company plans to seek FDA review later this year following the positive late-stage result.

Overview

  • The latest Phase 3 study found two 25 mg doses given three weeks apart produced a 3.8-point greater six-week reduction on the MADRS scale versus 1 mg.
  • Compass reported the therapy was generally well tolerated across both late-stage studies with no new safety concerns identified.
  • In June 2025, the first Phase 3 study reported a 3.6-point improvement after a single 25 mg dose.
  • The company has requested a meeting with the U.S. Food and Drug Administration and said it plans to submit the therapy for approval later this year.
  • Compass Pathways’ shares rose nearly 23% after the update.