Psychedelic Funding Update: Q1 2026

Psychedelic funding activity in Q1 2026 totaled $348M raised across 11 events, down slightly from Q4 2025. Compass Pathways accounted for most of the inflows with $150M after a second positive Phase 3 readout in February. The public offering priced shares at $8.00 while the stock traded under $6.00 at the time of writing, and Compass also announced about $200M in additional proceeds in late February after roughly 35 million warrants were exercised. The update frames this capital as a major runway extension as Compass continues Phase 3 psilocybin development for treatment-resistant depression and aims to submit a new drug application to the FDA.