Replies to post #234695 on Biotech Values

[DewDiligence]

CMPS -26% on purportedly-positive phase-2b in TRD:

https://finance.yahoo.com/news/compass-pathways-announces-positive-topline-120000877.html

In the randomised, controlled, double-blind trial, a single dose of investigational COMP360 psilocybin was given to 233 patients in conjunction with psychological support from specially trained therapists. All patients discontinued antidepressants prior to participation. The trial was powered to compare two active doses of COMP360, 25mg and 10mg, against a comparator 1mg dose.

The 25mg group vs the 1mg group showed a -6.6 difference on the MADRS* depression scale at week 3 (p<0.001). The 25mg group demonstrated statistical significance on the MADRS efficacy endpoint on the day after the COMP360 psilocybin administration (p=0.002). The 10mg vs 1mg dose did not show a statistically significant difference at week 3.

…At least twice the number of patients in the 25mg group showed response and remission* at week 3 and week 12, compared with the 1mg group. The protocol-defined sustained response* up to week 12 was double, with 20.3% of patients in the 25mg group vs 10.1% in the 1mg group.

I.e., the 20.3% sustained response rate at the highest dose was impressive (compared to the 1mg pseudo-placebo) in a relative sense, but not so much in an absolute sense.

Even after today’s drop, the share price is up strongly from its 2020 IPO (#msg-158382160).