Compass Pathways launches proposed $150.0 million public offering of American Depositary Shares, with option for an additional $22.5 million

Compass Pathways launches a proposed $150.0 million public offering of American Depositary Shares (ADSs) to support its biotech business. The offering includes ADSs and, in lieu of ADSs, pre-funded warrants for certain institutional investors, with an underwriter option for up to an additional $22.5 million at the public offering price. The company notes completion is subject to market and other conditions. Jefferies, TD Cowen, Cantor, and Stifel act as joint book-runners, and H.C. Wainwright is a lead manager. Compass also reiterates its mental health development focus, including COMP360, its investigational synthetic psilocybin treatment for treatment-resistant depression.