NASDAQ$CMPS
COMPASS Pathways plc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported financial results for the third quarter 2024 and provided an update on recent business progress.
Compass Pathways reported a net loss of $38.5 million for the third quarter of 2024. The company is prioritizing its COMP360 program and reducing its workforce by approximately 30%. The company's cash and cash equivalents were $207 million as of September 30, 2024.
- Top-line COMP005 data for COMP360 phase 3 pivotal program in treatment-resistant depression now expected in second quarter 2025.
- COMP006 data will now be announced after 26-week time point, expected in the second half of 2026.
- Strategic reorganization to focus all efforts on COMP360 program resulting in reduction of workforce of approximately 30%.
- Cash position of $207 million.
Headline financials
Revenue & EPS history
COMPASS · Revenue · Quarterly
$0
Forward guidance
Fourth quarter 2024 net cash used in operating activities is expected to be in the range of $37 million to $43 million. The full-year 2024 net cash used in operating activities is expected to be in the range of $114 million to $120 million. The cash position at September 30, 2024, is expected to be sufficient to fund operating expenses and capital expenditure requirements at least into 2026.
Tailwinds
- Sufficient cash to fund operations into 2026.
Headwinds
- Net cash used in operating activities is expected to be in the range of $37 million to $43 million for Q4 2024.
- Net cash used in operating activities is expected to be in the range of $114 million to $120 million for full year 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q3 2024
-0.7%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+4.1%
Avg return
30 days after
32%
6 / 19 earnings
Positive
+25.1%
Q2 2022
Best reaction
-23.3%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -5.9% | +12.7% | +29.1% | |
| Q3 2025 | -0.5% | +4.7% | -12.3% | |
| Q1 2025 | +0.5% | +4.3% | +28.3% | |
| Q4 2024 | +5.9% | +4.1% | -20.5% | |
| Q3 2024 | -23.3% | -27.0% | -25.8% | |
| Q1 2024 | +0.0% | -4.9% | -18.7% | |
| Q4 2023 | -7.2% | -12.1% | -32.7% | |
| Q3 2023 | +10.9% | +4.7% | +5.5% | |
| Q2 2023 | -4.7% | -8.8% | +4.2% | |
| Q1 2023 | -4.1% | -2.3% | -8.7% | |
| Q4 2022 | -3.4% | +0.8% | +23.3% | |
| Q3 2022 | +2.0% | -3.9% | +14.4% | |
| Q2 2022 | +25.1% | +18.1% | +4.6% | |
| Q1 2022 | -8.2% | +3.7% | +33.0% | |
| Q4 2021 | +8.1% | +15.5% | -1.1% | |
| Q2 2021 | -5.8% | -8.1% | +5.4% | |
| Q4 2020 | -1.2% | +4.5% | -5.9% | |
| Q4 2019 | -1.2% | +4.5% | -5.9% | |
| Q3 2020 | -0.2% | +1.4% | +61.6% | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
Discussion
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