Not applicable | ||||||||
(State or other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Item 2.02 | Results of Operation and Financial Condition |
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit No. | Description | |||||||||||||
99.1 | ||||||||||||||
104 | Cover page interactive data file (embedded within Inline XBRL document) |
COMPASS PATHWAYS PLC | ||||||||||||||||||||
Date: May 8, 2024 | By: | /s/ Teri Loxam | ||||||||||||||||||
Teri Loxam | ||||||||||||||||||||
Chief Financial Officer | ||||||||||||||||||||
March 31 | December 31, | ||||||||||
2024 | 2023 | ||||||||||
ASSETS | |||||||||||
CURRENT ASSETS: | |||||||||||
Cash and cash equivalents | $ | 262,888 | $ | 220,198 | |||||||
Restricted cash | 389 | 440 | |||||||||
Prepaid income tax | 1,123 | 1,123 | |||||||||
Prepaid expenses and other current assets | 31,115 | 39,535 | |||||||||
Total current assets | 295,515 | 261,296 | |||||||||
NON-CURRENT ASSETS: | |||||||||||
Operating lease right-of-use assets | 3,722 | 4,306 | |||||||||
Deferred tax assets | 3,659 | 3,336 | |||||||||
Long-term prepaid expenses and other assets | 6,097 | 7,049 | |||||||||
Total assets | $ | 308,993 | $ | 275,987 | |||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||
CURRENT LIABILITIES: | |||||||||||
Accounts payable | $ | 9,342 | $ | 5,892 | |||||||
Accrued expenses and other liabilities | 7,680 | 11,301 | |||||||||
Operating lease liabilities - current | 2,380 | 2,411 | |||||||||
Total current liabilities | 19,402 | 19,604 | |||||||||
NON-CURRENT LIABILITIES | |||||||||||
Long-term debt | 29,090 | 28,757 | |||||||||
Operating lease liabilities - non-current | 1,339 | 1,882 | |||||||||
Total liabilities | 49,831 | 50,243 | |||||||||
SHAREHOLDERS' EQUITY: | |||||||||||
Ordinary shares, £0.008 par value; 68,342,534 and 61,943,471 shares authorized, issued and outstanding at March 31, 2024 and December 31, 2023, respectively | 699 | 635 | |||||||||
Additional paid-in capital | 690,222 | 621,645 | |||||||||
Accumulated other comprehensive loss | (16,962) | (16,926) | |||||||||
Accumulated deficit | (414,797) | (379,610) | |||||||||
Total shareholders' equity | 259,162 | 225,744 | |||||||||
Total liabilities and shareholders' equity | $ | 308,993 | $ | 275,987 | |||||||
Three months ended March 31, | |||||||||||
2024 | 2023 | ||||||||||
OPERATING EXPENSES: | |||||||||||
Research and development | $ | 24,901 | $ | 19,035 | |||||||
General and administrative | 13,672 | 12,753 | |||||||||
Total operating expenses | 38,573 | 31,788 | |||||||||
Loss from operations | (38,573) | (31,788) | |||||||||
OTHER INCOME, NET: | |||||||||||
Other income, net | 2,388 | 709 | |||||||||
Interest expense | (1,098) | — | |||||||||
Foreign exchange (losses) gains | (783) | 2,685 | |||||||||
Benefit from R&D tax credit | 3,101 | 4,316 | |||||||||
Total other income, net | 3,608 | 7,710 | |||||||||
Loss before income taxes | (34,965) | (24,078) | |||||||||
Corporate income tax expense | (222) | (130) | |||||||||
Net loss | $ | (35,187) | $ | (24,208) | |||||||
Net loss per share attributable to ordinary shareholders—basic and diluted | $ | (0.55) | $ | (0.57) | |||||||
Weighted average ordinary shares outstanding—basic and diluted | 64,222,178 | 42,725,863 | |||||||||
Net loss | $ | (35,187) | $ | (24,208) | |||||||
Other comprehensive loss: | |||||||||||
Foreign exchange translation adjustment | (36) | (578) | |||||||||
Comprehensive loss | $ | (35,223) | $ | (24,786) | |||||||
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Cover |
May 08, 2024 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | May 08, 2024 |
Entity Registrant Name | COMPASS PATHWAYS PLC |
Entity Incorporation, State or Country Code | X0 |
Entity File Number | 001-39522 |
Entity Address, Address Line One | 33 Broadwick Street |
Entity Address, City or Town | London |
Entity Address, Postal Zip Code | W1F 0DQ |
Entity Address, Country | GB |
Country Region | 1 |
City Area Code | 716 |
Local Phone Number | 676-6461 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | American Depositary Shares, each representing one ordinary share, nominal value £0.008 per share |
Trading Symbol | CMPS |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Amendment Flag | false |
Entity Central Index Key | 0001816590 |
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