The company made this prognostication at the Psych Global Symposium, held in London, England, on Thursday, 6 July, 2023. The event describes itself as “home to world-leading psychedelic research institutions and publicly traded companies, with direct access to London’s capital markets.”

As a United Kingdom-domiciled company, the symposium is in the company’s backyard. COMPASS Pathways is headquartered in London, where the event is taking place. The company also has offices in New York and San Francisco.

COMPASS Pathways’ is currently undergoing a phase 3 clinical program of a proprietary psilocybin formula, COMP360, in treatment of treatment resistant depression. It is describer as the largest randomized, controlled, double-blind psilocybin treatment clinical program ever conducted.

Additionally, COMPASS is undertaking concurrent phase 2 clinical studies using COMP360 psilocybin treatment for post-traumatic stress disorder (PTSD) and anorexia nervosa.

In unrelated news, New York investment bank H.C. Wainwright reiterated their ‘Buy’ rating on COMPASS Pathways, while maintaining its $120 per share price target. The implies an approximate 1200% target increase from the current price.