Investigative Journalist Calls Out CEO For Omitting Risks of Mental Health Drug Trial.
0.61 loss per share, during the same period in 2021 (including non-cash share-based compensation expense of $2.2 million).
George Orwell: “Mr. Nath, these results generate a lot of positive sentiment, but I am wondering what is being left out of this announcement? Could you elaborate on what aspects have been omitted or minimized?”
Kabir Nath: “Well, as we in the business know, these benchmarks are based on efforts to optimize financial performance, and we think the public statement captures the essence of that exercise. In short, what is left out is the impact that our efforts to boost long-term value have on more than just the bottom line. For example, the COMP360 phase 3 pivotal program is designed to provide evidence-based evidence that psilocybin therapy is safe and effective for treating treatment-resistant depression—and this will hopefully open the door to broader patient access in the future. However, the financial results don’t capture the full potential of this program and other efforts to increase long-term value.”
George Orwell: “Do you think the implications of COMP360 are being accurately represented in the public statement?”
Kabir Nath: “Well, while it is impossible to realistically capture the full implications in a press release, we believe that COMP360 has the potential to be a game-changer in the field of mental health care. We are confident that it will generate the evidence necessary to support a regulatory filing and open up new areas of care for those suffering from mental health issues. However, it’s important to note that no medical therapy exists without risk—and so, it’s our responsibility to be transparent about any potential risks associated with COMP360.”
George Orwell: “Are there any risks or challenges associated with COMP360 that have not been discussed in the announcement?”
Kabir Nath: “Yes, there are always risks associated with any major program, and we have been as transparent as possible in discussing these risks in the announcement. That said, it is important to understand that any potential risks of COMP360 must be weighed against the potential benefits. Ultimately, we have taken significant measures to ensure the safety, efficacy, and long-term value of COMP360 and we are confident that this program will prove to be beneficial to the mental health care industry in the long run.”
Original Release: https://www.globenewswire.com/news-release/2023/02/28/2616859/0/en/COMPASS-Pathways-Announces-Fourth-Quarter-and-Year-End-2022-Financial-Results-and-Business-Highlights.html