[1][2][3] Its main drug candidate, psilocybin (COMP360), is currently in phase 3 clinical trials for treatment-resistant depression.

[1][2][4] This candidate has received breakthrough therapy status from the U.S. Food and Drug Administration (FDA).

[1] It is the most advanced psychedelic drug candidate in development besides Lykos Therapeutics's midomafetamine (MDMA).

[1][5] In October 2024, after the FDA rejected Lykos Therapeutics's MDMA for post-traumatic stress disorder (PTSD) New Drug Application (NDA), Compass Pathways said that it would lay off 30% of its workforce and narrow its research focus.

[10] The pharmaceutical company has been backed and funded by a number of tech entrepreneurs such as Peter Thiel.