Key facts
- Compass Pathways CEO Kabir Nath transitioned from traditional pharma to lead the psychedelic drug company.
- The company's psilocybin pill, COMP360, is intended for treatment-resistant depression.
- Nearly half of participants in Compass's latest trial saw a 50% reduction in depressive symptoms within six weeks.
- Compass Pathways has expanded its operations and payroll in anticipation of potential FDA approval and market rollout.
Compass Pathways CEO Kabir Nath has taken a significant personal and professional risk by leading the company's effort to bring COMP360, a synthetic psilocybin pill, to market for treatment-resistant depression. Nath, who previously held an executive role at traditional pharmaceutical firm Otsuka, joined Compass Pathways with a personal motivation stemming from his father's suicide. The company is nearing the final stages of its FDA approval process, with a potential market rollout as soon as next year. Compass Pathways has expanded its operations, including hiring 150 new employees and increasing its marketing division, in anticipation of this development. While a subsidiary of Johnson and Johnson received FDA approval for a ketamine-based depression treatment in 2019, Compass's bid faces uncertainty, and failure could lead to bankruptcy. Nath believes approval would be crucial for millions of US patients for whom current antidepressants are ineffective. The company's stock price has fluctuated since its 2020 IPO, currently hovering around $11.